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Lomiko Metals Inc. (Toronto Stock Exchange:LMR, Over-the-counter transactions:LMRMF, FSE: DH8C)) (“Lomiko Metals” or the “Company”) announced that, following its management information notice (the “Notice”) dated November 4, 2021 and submitted to SEDAR, it hopes to provide more information to its shareholders. More information regarding the extension of the sale of the company’s wholly-owned subsidiary Lomiko Technologies Inc., according to Business company law (BC), to Promethieus Technologies Inc.
The circular mentions that the share purchase agreement was signed on July 31, 2020. The company hopes to correct this information because the agreement was actually signed on July 31, 2019. The shareholders initially approved the transaction at the 2019 general meeting of shareholders. The share purchase agreement was subsequently revised, and the revised agreement dates were December 10, 2019, June 20, 2020, and October 5, 2021. Due to Brexit and Covid-19, the transaction has never been completed, so shareholders are invited to consider and approve a special resolution authorizing the renewal of the share purchase agreement in the circular to the new deadline of November 30, 2022.
The independent directors who approved the share purchase agreement in 2019 and the extension in 2020 are Julius Galik and Gabriel Erdelyi. Mr. Galik’s resignation as a director will take effect on December 17, 2020. Mr. Gregg Jensen succeeded Mr. Galik as the independent director overseeing the transaction and has approved the circular. The independent directors have confirmed that the economics of the transaction have remained unchanged since the signing of the share purchase agreement in 2019.
For more information about the transaction, please refer to the circular. The company also wants to remind shareholders that its annual extraordinary general meeting will be held on Monday, December 6, 2021, at 11 a.m. (Eastern Time).
Year-end finance
The company announced that it has submitted the year-end financial statements and management discussion and analysis on July 31, 2021 www.sedar.com.
Lomiko Metals is committed to supporting the decarbonization of our economy, and continues to work and actively work to advance the La Loutre graphite project from the preliminary economic assessment (“PEA”) to the pre-feasibility stage (“PFS”) stage and continue to explore Bouurier lithium Projects to support the growth and development of Canada’s critical mineral supply chain.
About Lomiko Metals Inc.
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