InvestmentPitch Media Video Discusses Lomiko Metals' Completion of Private Placement and La Loutre Flake Graphite Property in Quebec - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - November 8, 2018) - Lomiko Metals (TSXV: LMR) (OTCQB: LMRMF) (FSE: DH8C) closed its current non-brokered private placement. The company raised gross proceeds of $620,000 from the placement of 12,400,000 units priced at $0.05 per unit, with each unit consisting of one share and one warrant, with each warrant exercisable at $0.10 for 24 months.
InvestmentPitch.com has produced a "video" which discusses this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Lomiko" in the search box.
Cannot view this video? Visit:
http://www.investmentpitch.com/video/0_3l9o7fo4/Lomiko-closes-private-placement--exploration-planned-on-graphite-property-in-Quebec-prior-to-completing-PEA
Lomiko's main asset is its 80% owned La Loutre property. The 2,867 hectare La Loutre flake graphite property in Quebec is located approximately 53 kilometres east of Imerys Carbon and Graphite's Lac-des-Îles Mine, North America's only operating graphite mine, and 117 kilometres northwest of the International Sea Port of Montreal.
The March 2016 Technical Report and Mineral Resource Estimate on La Loutre Flake Graphite Property reported 18.4 million tonnes of 3.19% Indicated and 16.7 million tonnes at 3.75% Flake Graphite Inferred with a cut-off of 1.5%. The sensitivity table also features 4.1 million tonnes of 6.5% Indicated and 6.2 million tonnes at 6.1% Flake Graphite Inferred with a cut-off of 3%.
Further exploration in the Refractory Zone will be conducted before completing a Pre-economic Assessment. Lomiko currently has a drill permit in place and a planned 25 hole program, with only 2 of 10 identified anomalies at La Loutre having been drilled.
A Paul Gill, President and CEO, recently stated: "It takes 10-15 times more graphite than lithium to create a lithium-ion battery for any number of uses including electric vehicle batteries. Leading analyst Industrial Minerals has indicated that Chinese suppliers of graphite to the electric vehicle market are 'sold out' of material indicating possible that stockpiling of the material is occurring."
Demand for graphite to be used in the battery sector is expected to grow between now and 2020, driven by a positive outlook and rapid development of the downstream battery industry, according to Fabrizio Corti, business director for synthetic graphite at Imerys Graphite & Carbon.
For more information, please visit the company's website, www.lomiko.com, contact A. Paul Gill, President and CEO at 604-729-5312 or email info@lomiko.com.
About InvestmentPitch Media
Investmentpitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
CONTACT:
InvestmentPitch Media
Barry Morgan, CFO
bmorgan@investmentpitch.com