Lomiko Metals Inc. has secured additional shareholder support representing approximately 4.7% of its issued and outstanding shares for its proposed cash acquisition by Global Battery Materials Corp.

Under the court-approved plan of arrangement under the Business Corporations Act of British Columbia, Global Battery Materials is set to acquire all common shares of Lomiko Metals for cash consideration of C$0.13 per share, subject to customary closing conditions. With the latest agreements covering 3,747,444 shares, securityholders holding an aggregate of approximately 22.9% of the issued and outstanding shares have now agreed to vote in favour of the transaction.

As part of the funding arrangements tied to the acquisition, Lomiko Metals has clarified the terms of its senior secured bridge loan facility with the purchaser. The facility bears interest at a rate of 8.0% per annum and permits the company, at its option, to satisfy monthly interest obligations by capitalizing accrued and unpaid interest into the principal balance. Any future settlement of interest through equity issuance remains subject to prior written acceptance from the TSX Venture Exchange and must be completed at a price no lower than the market price of the company shares at that time. Lomiko Metals has received conditional approval from the TSX Venture Exchange for the loan facility and intends to proceed with an initial drawdown on August 7, 2026.

Lomiko Metals originally acquired the Yellow Fox project in January 2025 to diversify its critical minerals portfolio from graphite into antimony. The company has also acknowledged support from the Provincial Junior Exploration Assistance program by the Government of Newfoundland and Labrador for the project, providing funding rebates of up to $96,118 for eligible exploration activities within a broader $3.9 million provincial budget.

To advance the transaction toward completion, Lomiko Metals expects to mail a management information circular and hold a special meeting of securityholders for a vote on the acquisition.

Read the full announcement: Lomiko Metals Provides Update on Arrangement With Global Battery Materials, Loan Facility and Funding of the Yellow Fox Project