Lomiko Metals Inc has announced that its security holders have approved the proposed acquisition of the company by Global Battery Materials Corp (GBM) through an all-cash transaction. The approval was granted at a special meeting of shareholders and warrant holders held on September 23, 2026.
Under the proposed arrangement, GBM will acquire all outstanding common shares of Lomiko Metals for CAD 0.13 per share, subject to the completion of the required regulatory and legal procedures. The transaction is being carried out under the Business Corporations Act of British Columbia and follows an arrangement agreement signed by the two companies on July 27, 2026.
The arrangement resolution received 88.13% of votes cast by shareholders present at the meeting or represented by proxy. When shareholders and warrant holders voted together as a single class, the resolution received 87.81% support. In a separate vote excluding certain related parties in accordance with Multilateral Instrument 61-101, the resolution received 86.34% approval from eligible shareholders.
The company said the voting results represent an important step towards completing the proposed acquisition. The transaction remains subject to final approval from the Supreme Court of British Columbia and the satisfaction or waiver of other closing conditions specified in the arrangement agreement.
Lomiko Metals intends to seek the court’s final approval of the transaction. The hearing was initially expected during the week of September 28, 2026, at the courthouse on Smithe Street in Vancouver, British Columbia, or at another location determined by the court. Completion of the arrangement is expected shortly after the required approvals and other closing conditions are met.
Belinda Labatte, Executive Chair of Lomiko Metals, thanked the board of directors, the special committee, financial and legal advisers, and other service providers for their support during the transaction process. She also acknowledged the contributions of the company’s partners, employees and investors. Further details about the proposed acquisition are available in Lomiko Metals’ management information circular dated August 26, 2026. The document can be accessed through the company’s profile on SEDAR+ and its official website.
Lomiko Metals holds mineral interests in Quebec, Canada, including its advanced La Loutre Graphite Project in southern Quebec. Located approximately 180 kilometres northwest of Montreal, the project covers 4,528 hectares across 76 exclusive mineral exploration rights within the Kitigan Zibi Anishinabeg First Nation’s territory.
The company also holds interests in seven early-stage exploration projects in southern Quebec, covering 18,622 hectares. These include the Ruisseau, Tremblant, Meloche, Boyd, Dieppe, North Low and Carmin projects. In addition, Lomiko has an option on the Yellow Fox property in Newfoundland and Labrador, which is being explored for precious metals, antimony and rare earth elements. The proposed acquisition would transfer ownership of Lomiko Metals to GBM, subject to the completion of the arrangement and all required approvals.
