Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) securityholders have approved a proposed all-cash arrangement under which Global Battery Materials Corp. (GBM) will acquire the company’s outstanding shares for $0.13 per share.
The special resolution was approved at a meeting of Lomiko shareholders and warrant holders held Sept. 24, according to the company. The transaction remains subject to final approval by the Supreme Court of British Columbia and other closing conditions.
The arrangement stems from an agreement between Lomiko and GBM dated July 27, 2026. If completed, the transaction will result in GBM acquiring the outstanding common shares of Lomiko under a plan of arrangement governed by British Columbia’s Business Corporations Act.
Securityholders Back Transaction
Shareholders approved the arrangement resolution with 88.13% of votes cast by shareholders present in person or represented by proxy.
When shareholders and warrant holders voted together as a single class, 87.81% of votes cast supported the resolution. Excluding votes subject to the minority-securityholder protections under Multilateral Instrument 61-101, shareholder approval stood at 86.34%.
The results represent votes cast at the meeting and do not themselves complete the transaction.
Lomiko Executive Chair of the Board Belinda Labatte thanked the company’s board, special committee, advisers, employees, partners and investors for their involvement in the transaction process.
The company said its advisers included EY Parthenon as financial adviser to the special committee, Evans & Evans Inc. for its fairness opinion, Olympia Trust Company, Carson Proxy and Fasken Martineau DuMoulin LLP for transaction and advisory services.
Court Approval Remains
The next major step is an application for a final order from the Supreme Court of British Columbia.
Lomiko expects the court hearing to take place during the week of Sept. 28, 2026, at the courthouse at 800 Smithe Street in Vancouver, British Columbia, or at another location determined by the court.
Subject to court approval and satisfaction or waiver of the remaining conditions under the arrangement agreement, Lomiko expects the transaction to close shortly afterward.
The $0.13-per-share consideration is structured as an all-cash acquisition. The arrangement agreement sets out the conditions required for completion, meaning the shareholder vote is one step in the broader transaction process.
Lomiko’s announcement does not indicate that the transaction has closed. Until the remaining conditions are satisfied or waived and the required court order is obtained, the proposed acquisition remains subject to completion requirements.
