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Lomiko Metals' Promethieus Technologies subsidiary nears IPO in Europe

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Lomiko owns 20% of both Promethieus Technologies Inc. (Canada) and Promethieus Technologies PLC (UK).

Additional Information:

Company: Lomiko Metals
Website: http://www.lomiko.com
Stock Symbol: TSXV: LMR
Date Published: Feb 27, 2019
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Lomiko Metals’ subsidiary, Promethieus Technologies PLC (UK) has applied for listing in Europe

Lomiko owns 20% of both Promethieus Technologies Inc. (Canada) and Promethieus Technologies PLC (UK).

Having established banking relationships with both Canadian and Offshore financial institutions, Promethieus representatives are currently meeting with regulators to finalize the listing.

Upon completion of this process, Promethieus intends to announce additional news pertaining to a financing.

In December, Promethieus changed its mandate to focus on Future Tech investments and has reviewed investment opportunities in electric vehicle infrastructure, clean energy, the Internet of Things, as well as clean-tech and green tech materials related to these technologies.

A. Paul Gill, VP Business Development of Promethieus Technologies and CEO of Lomiko Metals, stated: “If you look back to 1980, 1990 and 2000 you will see the birth of industries such as computers, the internet, and smartphones, respectively. We are confident that the Electric Vehicle Industry has reached the tipping point and will be the wealth creation industry for 2020.”

J. P. Morgan estimates that by 2025 pure internal combustion engine vehicles’ share of the market will drop to approximately 68%, with a further reduction to only 41% by 2030.

A. Paul Gill added: “The importance of energy materials such as graphene, uranium, vanadium, lithium, tantalum, gallium, cobalt and graphite to energy production, grid storage methods and mobile energy storage has already been identified by power and energy utilities worldwide. In addition, new opportunities in data storage and secure transactions are made possible by new software. IoT products are a massive trend in smart home automation that will introduce new smart devices to our homes and offices.”

The company aims to seek and fund start-ups in these areas.

As Promethieus required a ‘natural person’ to act as a Founding Director, Mr. Gill accepted the position on behalf of Lomiko, and currently holds 42% of Promethieus.

Upon completion of the IPO, Mr. Gill will transfer shares to Lomiko to ensure Lomiko’s 20% threshold is maintained after any financings.

The shares are trading at $0.075.

For more information, please visit the company’s website, www.lomiko.com, contact A. Paul Gill, President and CEO at 604-729-5312 or email info@lomiko.com.

I’m Samantha Deutscher for Investmentpitch Media