Global Battery Materials Acquires Lomiko Metals in $10.4M Deal…

Event summary

Global Battery Materials Corp. (GBM) acquired all outstanding shares of Lomiko Metals Inc. for $0.13 per share, totaling C$10.4M.
The deal was completed on October 6, 2026, with Lomiko's shares set to be delisted from the TSX Venture Exchange the following day.
GBM acquired 80,040,395 shares, representing 100% of Lomiko's outstanding shares, making it a wholly-owned subsidiary.
A loan facility between Lomiko and GBM is no longer convertible following the deal's completion.

The big picture

The acquisition of Lomiko by GBM underscores the growing strategic importance of graphite in the battery materials supply chain. As electric vehicle demand drives consolidation, this deal positions GBM to control key assets in southern Québec, a region rich in critical minerals. The $10.4M transaction reflects the sector's focus on securing long-term supply agreements amid global competition.

What we're watching

Integration Strategy: How GBM will integrate Lomiko's La Loutre Graphite Project into its existing operations.
Market Impact: Whether this acquisition signals further consolidation in the battery materials sector.
Regulatory Compliance: The pace at which Lomiko ceases to be a reporting issuer in Alberta, British Columbia, and Ontario.