Lomiko Metals Announces Annual General and Special Meeting Results

Rhea-AI Summary

Lomiko Metals held its Annual General and Special Meeting on December 6, 2021, with 31.56% of shares represented. The newly elected Board includes Belinda Labatte as CEO, Gordana Slepcev as COO, and Vince Osbourne as CFO. Key resolutions included approving the appointment of Dale Matheson Carr-Hilton Labonte LLP as auditors with 99.87% approval, and the extension of the sale of its subsidiary, backed by 99.91% of votes. The company plans to advance its La Loutre graphite project from Preliminary Economic Assessment to Preliminary Feasibility Study in 2022.

Positive

• Elected a diverse and experienced Board of Directors.
• Company plans to advance La Loutre graphite project from PEA to PFS in 2022.

Negative

• None.

MONTREAL--(BUSINESS WIRE)-- Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) ("Lomiko Metals” or the “Company”) is pleased to announce that on December 6, 2021 it held its Annual General and Special Meeting of Shareholders (the “Meeting”). A total of 75,146,069 common shares (31.56% of the outstanding common shares) were represented at the Meeting in person or proxy.

At the first meeting of the newly constituted Board of Directors held immediately after the Meeting, Belinda Labatte was elected to serve as Chief Executive Officer and Director, Gordana Slepcev as Chief Operating Officer and Vince Osbourne as Chief Financial Officer until the next annual general meeting of the Company. The Board also elected Sagiv Shiv to serve as the Company’s Audit Committee Chair until the next annual general meeting of the Company.

Belinda Labatte, CEO and Director, said: “I am pleased to announce our board of directors renewal process is now complete. Our board represents a diverse and experienced group of professionals with Ms. Anu Dhir appointed as Lead Independent Director, A. Paul Gill continuing in his role as Executive Chair and Mr. Sagiv Shiv serving as Chair of the Audit Committee. Together with this board of directors who represent First Nations, Indigenous, Quebec and Canadian values and interests, we are creating a new energy future in Canada by building a meaningful portfolio of critical minerals assets. We are committed to advancing our graphite project La Loutre from PEA ('Preliminary Economic Assessment') to PFS ('Preliminary Feasibility Study') in 2022 and look forward to working with all our stakeholders on the improvement and de-risking of this project through an exploration campaign, metallurgical, engineering and environmental baseline studies. We will provide updates as we advance these studies in the new year.”

1. The Number of Directors

The number of Directors to be set at seven (7) was approved by a resolution passed by a vote by ballot with 59,633,336 (98.28%) total votes cast “FOR” and 1,040,547 (1.71%) votes cast “AGAINST”.

2. Election of Directors

Each of the following individuals was elected as directors of the Company as approved by a vote by ballot, for a term expiring at the conclusion of the next annual meeting of shareholders of the Company or until their successors are elected or appointed, as follows:

Name			Votes “For” (%)			Votes “Withheld” (%)
A Paul Gill			60,429,146 (99.86%)			84,592 (0.14%)
Belinda Labatte			60,109,603 (99.07%)			564,280 (0.93%)
Eric Levy			60,266,294 (99.32%)			407,589 (0.67%)
Sagiv Shiv			60,391,844 (99.53%)			282,039 (0.46%)
Anu Dhir			60,444,291 (99.62%)			229,592 (0.37%)
Dominique Dionne			59,516,798 (98.09%)			1,157,085 (1.90%)
Lee Arden Lewis			59,529,741 (98.11%)			1,144,142 (1.88%)

3. Appointment of Auditor

The appointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as the auditors of the Company, and the authorization for the directors to fix the remuneration to be paid to the auditors, was approved by a resolution passed by a vote by ballot, with 75,050,235 (99.87%) total votes cast “FOR” and 95,834 (0.12%) total votes “WITHHELD”.

4. 2021 Omnibus Incentive Plan

The 2021 Omnibus Incentive Plan was approved by a resolution passed by a vote by ballot with 58,993,551 (97.23%) total votes cast “FOR” and 1,680,432 (2.77%) total votes cast “AGAINST”.

5. Approval to the Extension of Closing the Sale of the Company’s Subsidiary– Special Resolution

The approval to the extension of the closing date of the sale of the Company’s wholly-owned subsidiary in accordance with the Business Corporations Act (BC) to Prometheus Technologies Inc was approved by a special resolution passed by a vote by ballot, with 60,621,629 (99.91%) total votes cast “FOR” and 52,254 (0.08%) total votes cast “AGAINST”. The resolution was a non-arm’s length transaction.

Interested shareholders can view the Company’s Investor presentation which was recorded at the AGM at the following link: https://lomiko.com/agm-materials/

About Lomiko Metals Inc.

Lomiko Metals has a new vision and a new strategy in new energy. Lomiko represents a company with purpose: a people-first company where we can manifest a world of abundant renewable energy with Canadian and Quebec critical minerals for a solution in North America. Our goal is to create a new energy future in Canada where we will grow the critical minerals workforce, become a valued partner and neighbour with the communities in which we operate, and provide a secure and responsibly sourced supply of critical minerals.

The Company holds a 100% interest in its La Loutre graphite development in southern Quebec. The La Loutre project site is located within the Kitigan Zibi Anishinabeg (KZA) First Nations territory. The KZA First Nations are part of the Algonquin Nation and the KZA territory is situated within the Outaouais and Laurentides regions.​ Located 180 kilometres northwest of Montreal, the property consists of 1 large, continuous block with 48 minerals claims totaling 2,867 hectares (28.7km²). Lomiko Metals published a Preliminary Economic Assessment (“PEA”) on September 10, 2021 which indicated the project had a 15 year mine life producing per year 100,000 tonnes of the graphite concentrate at 95%Cg or a total of 1.5Mt of the graphite concentrate. This report was prepared as National Instrument 43-101 Technical Report for Lomiko Metals Inc. by Ausenco Engineering Canada Inc., Hemmera Envirochem Inc., Moose Mountain Technical Services, and Metpro Management Inc., collectively the Report Authors. The Bourier project site is located near Nemaska Lithium and Critical Elements south-east of the Eeyou Istchee James Bay territory in Quebec which consists of 203 claims, for a total ground position of 10,252.20 hectares (102.52 km2), in Canada’s lithium triangle near the James Bay region of Quebec that has historically housed lithium deposits and mineralization trends.

Mr. Mike Petrina, Project Manager, a Qualified Person under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical disclosure in this news release.

For more information on Lomiko Metals, review the website at www.lomiko.com, contact Belinda Labatte at 647-402-8379 or email: info@lomiko.com.

Cautionary Note Regarding Forward-Looking Information

This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Company; and any other information herein that is not a historical fact may be "forward-looking information" (“FLI”). All statements, other than statements of historical fact, are FLI and can be identified by the use of statements that include words such as "anticipates", "plans", "continues", "estimates", "expects", "may", "will", "projects", "predicts", “proposes”, "potential", "target", "implement", “scheduled”, "intends", "could", "might", "should", "believe" and similar words or expressions. FLI in this new release includes, but is not limited to: the Company’s objective to become a responsible supplier of critical minerals, exploration of the Company’s projects, including expected costs of exploration and timing to achieve certain milestones, including timing for completion of exploration programs; the Company’s ability to successfully fund, or remain fully funded for the implementation of its business strategy and for exploration of any of its projects (including from the capital markets); any anticipated impacts of COVID-19 on the Company’s business objectives or projects, the Company's financial position or operations, and the expected timing of announcements in this regard. FLI involves known and unknown risks, assumptions and other factors that may cause actual results or performance to differ materially. This FLI reflects the Company’s current views about future events, and while considered reasonable by the Company at this time, are inherently subject to significant uncertainties and contingencies. Accordingly, there can be no certainty that they will accurately reflect actual results. Assumptions upon which such FLI is based include, without limitation: current market for critical minerals; current technological trends; the business relationship between the Company and its business partners; ability to implement its business strategy and to fund, explore, advance and develop each of its projects, including results therefrom and timing thereof; the ability to operate in a safe and effective manner; uncertainties related to receiving and maintaining exploration, environmental and other permits or approvals in Quebec; any unforeseen impacts of COVID-19; impact of increasing competition in the mineral exploration business, including the Company’s competitive position in the industry; general economic conditions, including in relation to currency controls and interest rate fluctuations.

The FLI contained in this news release are expressly qualified in their entirety by this cautionary statement, the “Forward-Looking Statements” section contained in the Company’s most recent management’s discussion and analysis (MD&A), which is available on SEDAR at www.sedar.com, and on the investor presentation on its website. All FLI in this news release are made as of the date of this news release. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by applicable securities laws.

Neither the 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 news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

On behalf of the Board,

Belinda Labatte

CEO and Director, Lomiko Metals Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211207005743/en/

Belinda Labatte

647-402-8379

info@lomiko.com

Source: Lomiko Metals Inc.

FAQ

What was the outcome of Lomiko Metals' Annual General Meeting on December 6, 2021?

At the Annual General Meeting on December 6, 2021, Lomiko Metals elected a new Board of Directors and approved key resolutions, including the appointment of auditors and a subsidiary sale extension.

Who are the new executives of Lomiko Metals as of December 2021?

Belinda Labatte was elected CEO, Gordana Slepcev as COO, and Vince Osbourne as CFO at Lomiko Metals' AGM in December 2021.

What is the La Loutre project for Lomiko Metals?

The La Loutre project is a graphite development project in Quebec that Lomiko Metals plans to advance to a Preliminary Feasibility Study in 2022.

What percentage of shares were represented at Lomiko Metals' AGM?

At Lomiko Metals' AGM, 75,146,069 common shares, or 31.56% of the outstanding shares, were represented.

What was the approval rate for the auditors at Lomiko Metals' AGM?

The appointment of Dale Matheson Carr-Hilton Labonte LLP as auditors was approved with a 99.87% vote in favor.