Global Battery Materials to acquire Lomiko Metals, securing Quebec La Loutre graphite project

Global Battery Materials (GBM) announced an all‑share acquisition of Lomiko Metals for roughly $11 million, giving GBM control of the La Loutre graphite project near Mont‑Tremblant, Quebec. The deal values Lomiko at a 71% premium to its recent trading price and is subject to shareholder, court and regulatory approvals, with closing expected in the fourth quarter.

CEO Eric Miller said the purchase “marks another decisive step in our strategy to consolidate the fragmented battery supply chain and build a fully integrated graphite platform spanning mine to anode.” The La Loutre project, one of North America’s largest flake‑graphite deposits, has faced strong opposition from local residents and municipal officials over environmental concerns. The acquisition aligns with North American efforts to develop domestic sources of critical minerals for electric‑vehicle batteries and energy‑storage systems.