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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