Lomiko’s Provides SHD Smart Home Update
VANCOUVER, British Columbia--(BUSINESS WIRE)--Jul 30, 2018--Lomiko Metals Inc. (“Lomiko”) (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) and SHD Smart Home Devices www.shddevices.com have been working diligently to bring Smart Home products to the market.
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View of Spider Charger (tm) installed (Photo: Business Wire)
“SHD has an incredible opportunity to participate in a burgeoning IoT and Smart Device market.”, stated A. Paul Gill, CEO of Lomiko Metals and VP of Business Development of SHD Smart Home Devices, “Major companies such as Leviton, Legrand, Pass and Seymour and others have recognized this new market and have launched similar devices.”
SHD has received preproduction samples of its Spider Charger™ USB outlets from its Indian Manufacturer and have finalized a design that is ready for Underwriter Laboratories and Canadian Standards Association approval. The key advantage of the latest design is its ability to install and use the product in any home or office in compliance with fire and safety regulations. The new Spider Charger™ design is more robust with increased power output to support wireless connections and fast charging. The device is now equivalent to installing a multi port USB power bar in the wall and operates without obstructing standard electrical outlets. It balances charging capacity and fire and electrical safety.
The Spider Charger ™ is now patent protected and will power or charge a growing list of consumer USB battery operated products and support multiple wireless charging pads while eliminating the need for bulky power converters currently required when using a power bar or wireless charging pads. The device is a convenient, décor friendly product designed to enhanced the user experience with it’s 6 USB charging ports built right into existing AC receptacles. High operating efficiency reduces power consumption across the power grid without the clutter of multiple power adapters. SHD is in the process of obtaining, further agency certification to list the product as Energy Star compliant in accordance with green energy standards.
SHD has continued negotiations with US based Automated Building Devices (ABD) for the sale and distribution of Spider Charger ™ units to homebuilders across western USA. A definitive agreement had been delayed due to key personnel illness with one of the partner companies. Once a definitive agreement is in place, the project and transaction details will be disclosed.
SHD has established a management share pool which will be used to attract and retain key management personnel. 2,800,000 shares were issued to the SHD management team in this period. Funds have been advanced by management for the purposes of developing the SHD patent portfolio, developing sales and improving the design of the products. Currently, Lomiko Metals owns 1,792,268 or 18.24% of a total 9,827,775 share of SHD.
Relationship with Promethieus Cryptocurrency
In a news release dated January 18, 2018, SHD and Promethieus had agreed to work together on the Golden Goose rig design using patents owned by SHD. In exchange, SHD was to be provided 25% ownership of Promethieus. However, given recent developments with Promethieus and a change of direction of the company away from computer oriented mining operations, the value of the patents to the overall work of Promethieus have become less crucial and not an integral part of the operations plan. Further, Blockchain development would also be completed separately for the two companies because of the software applications of blockchain for SHD and Promethieus are too varied to establish any common ground between the developments. Therefore, all parties agreed that any compensation to SHD would be in the form of cash not shares. Therefore, no Promethieus shares were issued to SHD and the share structure of Promethieus was finalized on June 26, 2018
There are currently 130 million established households in North America and a healthy seasonally adjusted annualized rate of 1.3 million housing starts. In addition, offices, hotels and coffee shops are also potential markets for USB charging devices. If only one or two USB charging devices are installed in new homes and retro-fitted into current homes undergoing renovations, there will be a healthy demand for these IOT products. Smart Home Ltd. plans to enter into negotiations to sell the Spider Charger and other related devices in North American markets with IOT distributors and builders. Lomiko will share its network of industry connections to help grow the venture and then enjoy the SHD equity multiplier without being burdened with any engineering, new product development, IP or associated marketing costs as the Spider charger and SHD suite of IoT products are rolled out.
On Behalf of the Board
“A. Paul Gill”
Chief Executive Officer
We seek safe harbor.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180730005634/en/
CONTACT: Lomiko Metals Inc.
A. Paul Gill, 604-729-5312
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: TECHNOLOGY CONSUMER ELECTRONICS TELECOMMUNICATIONS OTHER TECHNOLOGY NATURAL RESOURCES MINING/MINERALS PROFESSIONAL SERVICES FINANCE
SOURCE: Lomiko Metals Inc.
Copyright Business Wire 2018.
PUB: 07/30/2018 01:30 PM/DISC: 07/30/2018 01:30 PM