06:18:57 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Lomiko Metals Inc
Symbol LMR
Shares Issued 44,268,445
Close 2010-11-19 C$ 0.08
Market Cap C$ 3,541,476
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Lomiko investor Inwentash buys two million shares

2010-11-22 14:02 ET - News Release

Mr. Sheldon Inwentash reports

INWENTASH ACQUIRES SECURITIES OF LOMIKO METALS INC.

On Nov. 16, 2010, Sheldon Inwentash acquired ownership of two million common shares and one million common share purchase warrants of Lomiko Metals Inc.

Each warrant entitles the holder thereof to acquire one additional common share at a price of 10 cents until Nov. 2, 2011. In the event that the warrants are fully exercised, these holdings represent approximately 6.7 per cent of the total issued and outstanding common shares of Lomiko as of Nov. 16, 2010, calculated on a partially diluted basis, assuming the exercise of the warrants.

As a result of this transaction, Mr. Inwentash and his joint actors collectively held, as at Nov. 16, 2010, a total of 7,299,666 common shares of Lomiko, including the common shares and rights to acquire an additional 3,083,332 common shares of Lomiko upon the exercise of convertible securities, including the warrants. Of these totals, Mr. Inwentash owns 3.92 million common shares, including the common shares and the warrants directly. In the event that the convertible securities are fully exercised, the holdings of Mr. Inwentash and his joint actors represents a total of 10,382,998 common shares of Lomiko, or approximately 22.0 per cent of all issued and outstanding common shares as at Nov. 16, 2010, calculated on a partially diluted basis, assuming the exercise of the convertible securities only. In the event that the warrants are fully exercised, the direct holdings of Mr. Inwentash represents a total of 4.92 million common shares of Lomiko, or approximately 10.9 per cent of all issued and outstanding common shares as at Nov. 16, 2010, calculated on a partially diluted basis, assuming the exercise of the warrants only.

These transactions were made for investment purposes and Mr. Inwentash and each of its joint actors could increase or decrease their respective investments in Lomiko depending on market conditions or any other relevant factor.

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