GBM agrees to acquire Lomiko Metals, adding Quebec graphite project
2026-07-30 11:14:54 [Print]
On July 28, Lomiko Metals Inc. announced that it has entered into an arrangement agreement with Global Battery Materials Corp. (GBM), under which GBM will acquire all of Lomiko's issued and outstanding common shares for C$0.13 per share in cash, pursuant to a court-approved plan of arrangement under the Business Corporations Act. The transaction remains subject to customary closing conditions.
Concurrently with the signing of the arrangement agreement, Lomiko and GBM entered into a senior secured bridge loan facility, under which GBM agreed to lend Lomiko up to C$800,000 (or C$1,200,000, at Lomiko's election under certain specified circumstances related to the arrangement agreement) to support working capital requirements pending the close of the transaction. The loan bears interest at 8.0% per annum, matures no later than eighteen months following the initial advance, and is subject to certain acceleration events and other standard terms and conditions.
Global Battery Materials Corp. is a privately held Canadian critical minerals and battery technology company focused on building a fully North American battery supply chain-from natural graphite to active anode materials. Its vertically integrated platform is anchored by Canadian natural graphite assets and proprietary anode processing technology, which has already been validated at its pilot plant in South Korea and is now being scaled for North American operations. Currently, GBM supplies anode materials from its Korean facilities and supports industrial applications through the GBM Graphite Lab in Mont Laurier, Quebec, which is already producing purified graphite concentrate samples for qualifying customers across both industrial and battery markets.
Lomiko's La Loutre Graphite Project, Yellow Fox Property, and portfolio of other graphite assets will be integrated into GBM's anode materials platform as a long-term strategic feedstock asset. This acquisition supports the responsible development of graphite in Canada and strengthens North America's secure supply of qualified battery anode materials.
Concurrently with the signing of the arrangement agreement, Lomiko and GBM entered into a senior secured bridge loan facility, under which GBM agreed to lend Lomiko up to C$800,000 (or C$1,200,000, at Lomiko's election under certain specified circumstances related to the arrangement agreement) to support working capital requirements pending the close of the transaction. The loan bears interest at 8.0% per annum, matures no later than eighteen months following the initial advance, and is subject to certain acceleration events and other standard terms and conditions.
Global Battery Materials Corp. is a privately held Canadian critical minerals and battery technology company focused on building a fully North American battery supply chain-from natural graphite to active anode materials. Its vertically integrated platform is anchored by Canadian natural graphite assets and proprietary anode processing technology, which has already been validated at its pilot plant in South Korea and is now being scaled for North American operations. Currently, GBM supplies anode materials from its Korean facilities and supports industrial applications through the GBM Graphite Lab in Mont Laurier, Quebec, which is already producing purified graphite concentrate samples for qualifying customers across both industrial and battery markets.
Lomiko's La Loutre Graphite Project, Yellow Fox Property, and portfolio of other graphite assets will be integrated into GBM's anode materials platform as a long-term strategic feedstock asset. This acquisition supports the responsible development of graphite in Canada and strengthens North America's secure supply of qualified battery anode materials.
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