Lomiko Metals Inc. (TSX.V: LMR) (the “Company” or
“Lomiko”) is announcing the grant of stock options to management
and advisors as part of a long-term incentive program as determined
by the Board, and RSUs and deferred share units (“DSUs”) to the
Board in accordance with the Company’s 2022 Omnibus Equity
Incentive Plan adopted at the Annual General Meeting (“AGM”).
Grants under the 2022 Omnibus Equity Incentive Plan
On the recommendation of the Compensation, Corporate Governance
and Nominating Committee (“CCGNC”), the Board has approved the
grant of 3,000,000 RSUs, and 4,000,000 DSUs to directors of the
Company. Management and advisors of the Company have been granted
10,940,000 stock options.
The 2022 Omnibus Equity Incentive Plan’s objective is to create
an incentive compensation program that is aligned with the
Company’s long-term objectives. Stock options, DSUs, RSUs and PSUs
are granted in accordance with Policy 4.4 – Security Based
Compensation of the TSX Venture Exchange (the “Exchange”) and the
terms and conditions of the 2022 Omnibus Equity Incentive Plan.
RSUs: Each vested RSU can be redeemed for one fully paid
and non-assessable common share of Lomiko issued from treasury.
RSUs are vested by February 24, 2024. The number of RSUs granted
was calculated based on the compensation to be paid to the
director, as recommended by CCGNC and approved by the Board, and
was calculated using a price of $0.05 per common share.
DSUs: Each vested DSU can be redeemed for one fully paid
and non-assessable common share of Lomiko issued from treasury. For
directors, the DSUs granted vest on February 24, 2024, and are
settled on a director’s retirement from the board. The number of
DSUs granted was calculated based on the compensation to be paid to
the director, as recommended by CCGNC and approved by the Board,
and was calculated using a price of $0.05 per common share.
Stock options: Stock options to management and advisors
were granted with a 5-year term in accordance with the following
vesting schedule: 1/3 of the stock options vesting one year
following the grant date; 1/3 of the stock options vesting the two
years following the grant date and the remaining 1/3 of the options
vesting three years following the grant date. The exercise price is
$0.05 per common share.
Participation at the PDAC
Lomiko is pleased to present and participate at the PDAC
Conference in Toronto from March 5th to 8th, 2023. The management
team will be available at booth 2547 and presenting at the
conference at several events. Please check the Company’s social
media for participation and details.
The Company’s updated investor presentation and website can be
found on www.lomiko.com.
About Lomiko Metals Inc.
The Company holds mineral interests in its La Loutre graphite
development in southern Quebec. The La Loutre project site is
located within the Kitigan Zibi Anishinabeg (KZA) First Nation’s
territory. The KZA First Nation is part of the Algonquin Nation and
the KZA traditional territory is situated within the Outaouais and
Laurentides regions. Located 180 kilometres northwest of Montreal,
the property consists of one large, continuous block with 76
mineral claims totalling 4,528 hectares (45.3 km2).
The property is underlain by rocks belonging to the Grenville
Province of the Precambrian Canadian Shield. The Grenville was
formed under conditions that were very favourable for the
development of coarse-grained, flake-type graphite mineralization
from organic-rich material during high-temperature
metamorphism.
Lomiko Metals published a July 29, 2021 Preliminary Economic
Estimate (PEA) which indicated the project had a 15-year mine life
producing per year 100,000 tonnes of graphite concentrate at 95% Cg
or a total of 1.5Mt of graphite concentrate. This report was
prepared as National Instrument 43-101 Technical Report for Lomiko
Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem
Inc., Moose Mountain Technical Services, and Metpro Management
Inc., collectively the Report Authors.
On behalf of the Board, Belinda Labatte CEO and Director, Lomiko
Metals Inc.
For more information on Lomiko Metals, review the website at
www.lomiko.com.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within
the meaning of the applicable Canadian securities legislation that
is based on expectations, estimates, projections and
interpretations as at the date of this news release. The
information in this news release about the Company; and any other
information herein that is not a historical fact may be
"forward-looking information" (“FLI”). All statements, other than
statements of historical fact, are FLI and can be identified by the
use of statements that include words such as "anticipates",
"plans", "continues", "estimates", "expects", "may", "will",
"projects", "predicts", “proposes”, "potential", "target",
"implement", “scheduled”, "intends", "could", "might", "should",
"believe" and similar words or expressions. FLI in this new release
includes, but is not limited to: the Company’s objective to become
a responsible supplier of critical minerals, exploration of the
Company’s projects, including expected costs of exploration and
timing to achieve certain milestones, including timing for
completion of exploration programs; the Company’s ability to
successfully fund, or remain fully funded for the implementation of
its business strategy and for exploration of any of its projects
(including from the capital markets); any anticipated impacts of
COVID-19 on the Company’s business objectives or projects, the
Company's financial position or operations, and the expected timing
of announcements in this regard. FLI involves known and unknown
risks, assumptions and other factors that may cause actual results
or performance to differ materially. This FLI reflects the
Company’s current views about future events, and while considered
reasonable by the Company at this time, are inherently subject to
significant uncertainties and contingencies. Accordingly, there can
be no certainty that they will accurately reflect actual results.
Assumptions upon which such FLI is based include, without
limitation: current market for critical minerals; current
technological trends; the business relationship between the Company
and its business partners; ability to implement its business
strategy and to fund, explore, advance and develop each of its
projects, including results therefrom and timing thereof; the
ability to operate in a safe and effective manner; uncertainties
related to receiving and maintaining exploration, environmental and
other permits or approvals in Quebec; any unforeseen impacts of
COVID-19; impact of increasing competition in the mineral
exploration business, including the Company’s competitive position
in the industry; general economic conditions, including in relation
to currency controls and interest rate fluctuations.
The FLI contained in this news release are expressly qualified
in their entirety by this cautionary statement, the
“Forward-Looking Statements” section contained in the Company’s
most recent management’s discussion and analysis (MD&A), which
is available on SEDAR at www.sedar.com, and on the investor
presentation on its website. All FLI in this news release are made
as of the date of this news release. There can be no assurance that
such statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking information. The Company does not
undertake to update or revise any such forward-looking statements
or forward-looking information contained herein to reflect new
events or circumstances, except as may be required by applicable
securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release. No stock exchange, securities
commission or other regulatory authority has approved or
disapproved the information contained herein.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230224005441/en/
Vincent Osbourne, 647-528-1501 Belinda Labatte, 647-402-8379 or
1-833-456-6456 or 1-833-4-LOMIKO info@lomiko.com
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