​Lomiko Metals (LMR:CA) Renews Shareholders Rights Plan

Lomiko Metals Inc. (LMR:CA) has approved the renewal of the shareholder rights plan, which was ratified at its annual and special meeting of the shareholders on October 30, 2014. The Plan had an initial term which will expire at the Company’s annual general meeting of shareholders to be held on October 27, 2017. If ratified and renewed, a copy of the rights plan will be available for viewing on SEDAR and may also be obtained from Company subsequent to its 2017 annual general meeting of shareholders.

Lomiko will not be renewing 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 renewed and ratified, the Plan will have an initial term which will expire at Lomiko’s annual general meeting of shareholders to be held in 2020; 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 2017 annual general meeting of shareholders.

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