09:12 AM EDT, 04/04/2025 (MT Newswires) -- Lomiko Metals ( LMRMF ) overnight Thursday said it will amend the exercise price of an aggregate of 1.8 million outstanding common share purchase warrants currently expiring on July 24, with an exercise price of $0.60 to the 10-day Volume Weighted Average Price (VWAP) of $0.1465.

The company said all other terms of the warrants will remain the same, including the July 24 expiry date.

Lomiko also announced a warrant exercise early incentive program, pursuant to which the company will offer holders of the outstanding warrants, the opportunity to exercise each of their outstanding warrants, subject to certain conditions. The company anticipates issuing all of the incentive warrants on or about April 30, following conclusion of the incentive program.

The company intends to use proceeds to complement its current financing and thereby start the engineering phase of the pre-feasibility study of the La Loutre graphite project, progress with the bulk sample and anode piloting at the La Loutre project, explore the company's Yellow Fox property, regional graphite exploration, and for general working capital purposes.

Shares of the company closed unchanged at $0.135 on Thursday on the TSX Venture Exchange.