Lomiko Investment SHD Smart Home Devices Ltd Awarded New US Patent Approval for (IoT) Power Hub Receptacle

Rhea-AI Summary

Lomiko Metals (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) announced that its investment in SHD Smart Home Devices Ltd. has received a patent (#11063396) for its new IoT Power Hub wall-mounted receptacle, published on July 15, 2021. Lomiko owns 18.15% of SHD and 40% of Graphene Energy Storage Devices, enhancing its market position. Additionally, Lomiko plans to sell its stake in Lomiko Technologies Inc. for $1,236,625, retaining a 20% interest in the new entity. The extended timeframe for this transaction will be discussed in the upcoming AGM.

Positive

• SHD awarded a patent for IoT Power Hub, opening licensing and manufacturing opportunities.
• Lomiko retains 20% interest in the new entity after selling Lomiko Technologies.

Negative

• Transaction completion delayed due to COVID-19, affecting timeline for strategic initiatives.

Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) investment SHD Smart Home Devices Ltd. (www.shddevices.com) has been awarded a new patent #11063396 from the United States Patent and Trademark Office for its IoT Power Hub wall-mounted receptacle. The publication date for the patent is July 15, 2021. Lomiko Metals Inc. 100% owned subsidiary Lomiko Technologies Inc. is the owner of 18.15% of SHD Smart Home Devices Ltd. (www.shddevices.com) and 40% of Graphene Energy Storage Devices. This is an excellent development for SHD and opens up licensing and manufacturing opportunities. SHD continues to investigate licensing and manufacturing opportunities and aims to complete Underwriters Laboratory (UL) certification for the product and continues research and development of products related to power conversion, heat management and electric vehicle charging equipment.

SHD Devices in-wall USB-enabled 8 receptacle IoT Hub with 2 of 8 USB plugs being utilized. (Photo: Business Wire)

"SHD has an incredible opportunity to participate in a burgeoning IoT and Smart Device market.", stated A. Paul Gill, CEO., "Major companies such as Leviton, Legrand, Pass and Seymour and others have recognized this new market and have launched similar devices."

In order to focus on its battery materials properties in Quebec, Lomiko Metals entered into an agreement to sell it’s 100% interest in Lomiko Technologies Inc. to Promethieus Technologies Inc. (Canada) (www.promethieus.com) for $ 1,236,625 on August 6, 2020. Promethieus Technologies Inc. (Canada) plans to merge with Promethieus Technologies NV and the resulting company aims to list on the DCSX to seek further funding to develop both SHD and Graphene ESD. Lomiko would retain 20% interest in the resulting issuer and be reimbursed $ 152,858 in expenses paid by Lomiko on behalf of Promethieus Technologies Ltd. The transaction was due to complete by June 30, 2021 but that target date has not been met due to delays related to COVID 19. A new resolution to extend the time frame of the sale will be presented to the next Annual General Meeting.

Mobile phone manufacturers such as Samsung and Apple have already made the decision not to include charge adapters in the retail box with new phones. The patented IoT Power Hub has 6 USB charge points and 2 traditional plug outlets, providing capability to charge up to 8 electronic devices from one receptacle. Furthermore, the patented design has the USB ports situated on the sides of the device allowing all USB outlets to be used simultaneously without obstructing the plug outlets. This is a problem that many competing options with front mount USB outlets face. The devices also greatly reduces the wasted energy from over-heated power-converters created from less than optimal chargers. SHD is a company jointly launched by Lomiko Technologies and MegaHertz Power Systems Ltd. February 16, 2016, focused on Internet of Things (IoT) devices and EV charging solutions. SHD will continue to execute on its plans to develop, contract manufacture, distribute and sell its Chargers and related devices.

There are currently 130 million established households in North America and a healthy seasonally adjusted annualized rate of 1.3 million housing starts. In addition, offices, hotels and coffee shops are also potential markets for USB charging devices. If only one or two USB charging devices are installed in new homes and retro-fitted into current homes undergoing renovations, there will be a healthy demand for these IoT products. SHD plans to enter into negotiations with IoT distributors to sell the IoT power outlets and other related devices in North American markets. Lomiko will share its network of industry connections to help grow the venture and then enjoy the SHD equity multiplier without being burdened with any engineering, new product development, IP or associated marketing costs as the IoT power outlet and additional suite of IoT products are rolled out.

For more information on Lomiko Metals, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: info@lomiko.com.

On Behalf of the Board

“A. Paul Gill”

Chief Executive Officer

We seek safe harbor.

Neither 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 release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210625005409/en/

FAQ

What is the significance of Lomiko Metals' investment in SHD Smart Home Devices Ltd.?

Lomiko's investment in SHD has resulted in a newly awarded patent for an IoT Power Hub, positioning the company to capitalize on growth in the IoT market.

How much did Lomiko Metals agree to sell its interest in Lomiko Technologies Inc. for?

Lomiko Metals agreed to sell its 100% interest in Lomiko Technologies Inc. for $1,236,625.

What delay has affected Lomiko Metals' transaction with Promethieus Technologies Inc.?

The completion of the transaction has been delayed due to COVID-19, impacting the timeline for initiating strategic initiatives.

What is the patent number awarded to SHD Smart Home Devices?

The patent number awarded to SHD Smart Home Devices for the IoT Power Hub is #11063396.

What percentage interest does Lomiko Metals retain after selling Lomiko Technologies?

Lomiko Metals retains a 20% interest in the resulting combined entity after the sale of Lomiko Technologies.