Lomiko Metals Inc has entered into a definitive agreement to be acquired by Global Battery Materials Corp (GBM) in an all-cash transaction valued at approximately C$11 million on a fully diluted basis. The acquisition marks a significant step in building an integrated North American battery materials supply chain and will combine Lomiko’s graphite resources with GBM’s advanced anode processing capabilities.
Under the agreement, GBM will acquire all issued and outstanding shares of Lomiko for C$0.13 per share through a court-approved plan of arrangement under the Business Corporations Act of British Columbia. The offer represents a 71% premium over Lomiko’s 20-day volume weighted average trading price on the TSX Venture Exchange as of July 27, 2026.
Alongside the acquisition agreement, both companies have signed a senior secured bridge loan facility under which GBM will provide Lomiko with up to C$800,000 in working capital. Under specified conditions, the facility can be increased to C$1.2 million. The financing will support the company’s operations until the transaction is completed.
The acquisition will add Lomiko’s flagship La Loutre Graphite Project in Québec, the Yellow Fox Property in Newfoundland and Labrador, and several other graphite exploration assets to GBM’s growing portfolio. These assets will strengthen GBM’s strategy of developing a fully integrated battery materials platform that spans natural graphite mining, graphite purification and anode material production for North America’s electric vehicle and energy storage industries.
Lomiko Chief Executive Officer Gordana Slepcev said the transaction delivers immediate value to shareholders while positioning the company’s graphite assets within a business that has the technical capability and resources to advance them further. GBM Chief Executive Officer Eric Miller said the acquisition supports the company’s long-term strategy of creating a complete graphite-to-anode supply chain in North America. He added that the combined business will be well placed to meet growing demand for battery-grade graphite materials while supporting regional supply chain security.
The transaction has received unanimous approval from Lomiko’s Board of Directors, with interested directors abstaining from voting. An independent Special Committee also recommended the deal after reviewing financial and legal advice and receiving an independent fairness opinion. Shareholders representing approximately 18.2% of Lomiko’s outstanding shares, including all directors and executive officers, have signed voting support agreements in favour of the acquisition.
The acquisition remains subject to shareholder, court and regulatory approvals, along with customary closing conditions. A special meeting of shareholders is expected to take place in September 2026, with the transaction anticipated to close during the fourth quarter of 2026.Following completion, GBM plans to delist Lomiko’s shares from the TSX Venture Exchange and seek to end its reporting issuer status in Canada.
Global Battery Materials is building an integrated battery materials business focused on natural graphite, purified graphite and advanced anode materials for electric vehicle batteries. Its operations include graphite processing technology validated through a pilot facility in South Korea and a graphite laboratory in Québec that supplies materials for industrial and battery applications.
Lomiko Metals is focused on the exploration and development of graphite resources in Québec, including the advanced-stage La Loutre Graphite Project, while also holding additional exploration assets in graphite, precious metals and critical minerals across Canada. The Company holds mineral interests in its advanced La Loutre Graphite Project in southern Québec. Located approximately 180 kilometres northwest of Montreal, the project lies within the territory of the Kitigan Zibi Anishinabeg (KZA) First Nation, spanning the Outaouais and Laurentides regions.
The La Loutre property comprises a single, contiguous land package covering 76 mineral exclusive exploration rights and approximately 4,528 hectares (45.3 km²). In addition, the Company holds interests in seven early-stage exploration projects in southern Québec: Ruisseau, Tremblant, Meloche, Boyd, Dieppe, North Low and Carmin. Collectively, these properties encompass 328 exclusive exploration rights covering approximately 18,622 hectares in the Laurentian region of Québec, including areas within KZA territory.
The Company has also optioned the Yellow Fox Property, an early-stage exploration prospect targeting precious metals, antimony and rare earth elements (REEs). The property is located approximately 10 kilometres southwest of Glenwood, Newfoundland and Labrador, south of the Trans-Canada Highway.
