Lomiko Metals has filed and begun mailing its management information circular to securityholders ahead of a September 23, 2026, special meeting to vote on its proposed all-cash acquisition by Global Battery Materials Corp.

Under the terms of the transaction, Global Battery Materials Corp. will acquire all outstanding shares of Lomiko Metals for $0.13 per share in a court-approved plan of arrangement under the Business Corporations Act of British Columbia. The Supreme Court of British Columbia has granted an interim order authorizing the meeting, setting the record date for August 19, 2026, and establishing procedural requirements for the vote.

Securityholders must submit completed proxy forms to the company's transfer agent by September 21, 2026, at 10:00 a.m. Vancouver time. Approval requires at least two-thirds of the votes cast by shareholders and securityholders voting together as a single class, alongside a simple majority of minority shareholder votes excluding interested parties under applicable rules.

Subject to receiving securityholder approval, a final court order, and other customary closing conditions, the arrangement is expected to close in the fourth quarter of 2026. Upon completion, Global Battery Materials Corp. will hold 100% of the company's shares, cause them to be delisted from the TSX Venture Exchange, and have Lomiko Metals cease to be a reporting issuer under applicable Canadian securities laws.

The upcoming corporate transaction follows the filing of a pre-feasibility study for the La Loutre graphite project in May 2026, which reported an after-tax net present value of $617.4 million and probable mineral reserves of 46.8 million tonnes at an average grade of 4.79% graphitic carbon.

Meanwhile, broader regional developments in the graphite sector continue to unfold in the surrounding district, where Northern Graphite Corporation reported on August 19, 2026, that the timing of the restart at its Lac des Iles graphite mine has been affected by a mining lease suspension notice, alongside receiving authorization to begin mining activities for a pit expansion.

Read the full announcement: Lomiko Metals Announces Receipt of Interim Court Order and Mailing of Management Information Circular Relating to Arrangement With Global Battery Materials