VANCOUVER, British Columbia--(BUSINESS WIRE)--LOMIKO METALS INC. (TSXV:LMR) (OTC: LMRMF) (FSE: DH8C) (ISIN: CA54163Q1028) (WKN: A0Q9W7) (LEI: 529900GJP51V4HR9MN94) ("Lomiko" or "the Company”) has engaged Isatis Capital Partners ("Isatis") to plan the organization and the inception of a UK public cash shell, done in parallel with a European financing through a licensed broker/dealer for Promethieus Cryptocurrency Mining Corp (Promethieus). Following this, the company plans to select a European Exchange. Lomiko has an option to increase its position in Promethieus Cryptocurrency Mining Corp. previous to the Reverse Takeover (RTO) with the UK shell if funds are required for operational reasons. Lomiko currently owns a 25% equity stake in Promethieus as well as a 25% equity interest in SHD Smart Home Devices, which also owns 25% of Promethieus.
The scope of the Isatis mandate involves two activities, namely: (1) the organization, implementation, clearing with securities regulator and the floating on a Multilateral Trading Facility (MTF) of a Public Limited Company (PLC) organized under the Companies Act, 2006 of the United Kingdom and (2) canvassing and introducing through a licensed broker/dealer to European sophisticated and institutional investors the proposed venture to be amalgamated in the cash shell with the aim to carry out a private placement concurrently with the floating of the ordinary shares of the PLC on a MTF regulated under the Markets and Financial Instruments Directive (MiFID).
Promethieus has assembled a proof of concept demonstrator called the Golden Goose Crypto Rig for market validation and testing customer interest. The concept was well received at a recent Vancouver economic summit. The overwhelming response has set the stage for both consumer and enterprise sales such as centralized Mining Farm operations. Configuration of a lower power home and/or office cryptocurrency mining rig called the Golden Goose II for individual consumers seeking to participate in cryptocurrency mining has been added to the product roadmap to support the increased market interest. Both rigs are fully operational and have been actively mining since December 2017. The enterprise and consumer Golden Goose Crypto Rigs will be further optimized for production to benefit from volume buying cost reduction post funding.
The current Promethieus team has expertise in power management hardware and is developing power management systems to reduce power consumption, increase longevity and maximize hardware operating efficiency for high cost, power hungry electronics hardware associated cryptocurrency mining. Further, the client has established relationships with owners of several facilities and has a rollout plan to rapidly increase mining capabilities based on available capital.
On behalf of Lomiko Metals Inc,
"A. Paul Gill"
A. Paul Gill,
President & CEO
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