Lomiko Metals Inc.
TSX VENTURE : LMR

Lomiko Metals Inc.

August 31, 2009 16:06 ET

Lomiko Metals Inc. Closes $1 Million Private Placement Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 31, 2009) - LOMIKO METALS INC. (TSX VENTURE:LMR). Lomiko Metals Inc. (the "Company") is pleased to announce the closing of its previously announced private placement of 8,333,333 units ("Units") at a price of $0.12 per Unit. Each Unit consists of one common share of the Company and one half of one common share purchase warrant, each full warrant being exercisable at a price of $0.20 for a period of eighteen months after the closing date. The Units are subject to a 4-month hold period expiring January 1, 2010.

The net proceeds of the offering will be used for working capital purposes.

Byron Capital Markets, a division of Byron Securities Ltd. (the "Agent") acted as agent for the private placement. The Company has paid a cash commission to the Agent equal to 8% of the gross proceeds of the offering and additionally, granted the Agent options to subscribe for 833,333 Units of the offering.

On behalf of Lomiko Metals Inc.

Paul Gill, President & CEO

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.

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