On July 27, 2026, Global Battery Materials Corp. entered into an arrangement agreement with Lomiko Metals Inc. pursuant to which Global Battery will acquire all of the issued and outstanding shares of Lomiko for cash consideration of $0.13 per share by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia), subject to customary closing conditions.
Concurrently upon entering into the arrangement agreement, Global Battery and Lomiko entered into a senior secured bridge loan facility whereby Global Battery agreed to lend up to $1.2 million to Lomiko. The loan bears interest at 8.0% per year, matures no later than 18 months following the initial advance and is subject to certain acceleration events and other customary terms and conditions.
Cassels is acting for Global Battery.