LOMIKO METALS INC. (TSX VENTURE:LMR)(PINKSHEETS:LMRMF)(FRANKFURT:DH8B)
(Europe: ISIN: CA54163Q1028, WKN: A0Q9W7) (the "Company") announces that
its Board of Directors (the "Board") has approved the adoption of a
shareholder rights plan (the "Plan"). The Plan is subject to the
approval of the TSX Venture Exchange and shareholder ratification within
six months of its adoption. The Corporation will seek shareholder
ratification at its annual and special meeting of the shareholders
scheduled to be held on October 30, 2014.
Lomiko is not adopting the Plan in response to any specific
proposal to acquire control of its outstanding securities. The Plan will
be similar to plans adopted by other Canadian companies and ratified by
their shareholders. It is not the intention of the Plan to entrench
management or prevent a change of control of Lomiko to the detriment of
shareholders. The Plan will not apply to takeover bids that meet certain
requirements including that the bid be made by way of a takeover bid
circular and be left open for at least 60 days so as to ensure that
shareholders will have an adequate opportunity to assess the merits of
any such bid.
The Plan has been designed to encourage the fair and equal
treatment of shareholders in connection with any takeover bid for
Lomiko's outstanding securities, and will provide the board of directors
with additional time to assess the advantages and disadvantages of any
particular offer, and to seek out alternative proposals in the best
interests of all shareholders.
If ratified, the Plan will have an initial term which will expire
at Lomiko's annual general meeting of shareholders to be held in 2017;
the Plan may also be reconfirmed and extended at that annual general
meeting and at every third annual general meeting thereafter. If
ratified as disclosed above, a copy of the new rights plan will be
available for viewing on SEDAR and may also be obtained from Lomiko
subsequent to its 2014 annual general meeting of shareholders.
Lomiko Metals Inc. Background
Lomiko Metals Inc. is a Canada-based, exploration-stage company.
The Company is engaged in the acquisition, exploration and development
of resource properties that contain minerals for the new green economy.
Its mineral properties include the Quatre Milles Graphite Property and
the Vines Lake property which both have had recent major discoveries.
For more information on Lomiko Metals Inc., review the website at www.lomiko.com.
On Behalf of the Board of LOMIKO METALS INC.
A. Paul Gill, Chief Executive Officer
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.
FOR FURTHER INFORMATION PLEASE CONTACT: Lomiko Metals Inc. A. Paul Gill 604-729-5312 firstname.lastname@example.org www.lomiko.com
SOURCE: Lomiko Metals Inc.