VANCOUVER, British Columbia–(BUSINESS WIRE)–$ALB #BMW—Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE:
DH8C) Lomiko Metals Inc. announces Promethieus Cryptocurrency Mining
Corp. has changed its name to Promethieus Technologies (“Promethieus”)
and is preparing to complete its IPO as announced
April 6, 2018. Promethieus Technologies PLC (UK) was formed August
1, 2018 in order to facilitate the IPO. At this time, the UK company is
concluding negotiations with a European brokerage firm and a European
The company has also changed to a Future Tech focus as it has identified
investment opportunities in electric vehicle infrastructure, clean
energy, the Internet of Things (IoT), Blockchain and also hopes to
support companies developing new materials needed to make these
technologies possible. The importance of energy materials such as
graphene, vanadium, lithium, 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, the new
opportunities in data storage and secure transactions are made possible
by blockchain. IoT is also a massive trend that will introduce new smart
devices to our homes and offices. Promethieus aims to seek and fund
start-ups in these areas.
“The recent announcements of closures by General Motors of manufacturing
capacity in Ontario and the low price of oil affecting employment in
Alberta are only the start of significant long-term economic changes.
Business, government and utilities have not prepared for this ‘tidal
wave’ of change. Further, most investors have not understood the
opportunity, but we have been researching Future Tech since 2012.”
Stated A. Paul Gill, CEO of Lomiko and VP Business Development of
The Boards of Promethieus and Lomiko have agreed that Promethieus will
repay Lomiko Metals $ 200,000 when funded and that Lomiko’s 20%
ownership holding would not be diluted by the IPO. Mr. Gill, currently a
42% holder of Promethieus in order to facilitate the transaction, has
acted as a Founding Director of Promethieus on behalf of Lomiko Metals
as a ‘natural person’ is required as Founding Director. Upon completion
of the IPO, Mr. Gill will be able to transfer a portion of his shares to
Lomiko to ensure the 20% threshold is maintained after any financings.
On Behalf of the Board
Director, Chief Financial OfficerWe seek safe harbor.
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.
A. Paul Gill604-729-5312[email protected].