Romios Announces Closing of $307,252 Non- Brokered Offering
Romios Announces Closing of $307,252 Non-
Brokered Offering
Toronto, Ontario--(Newsfile Corp. - October 30, 2023) -
Romios Gold Resources Inc. (TSXV:
RG)
(OTCQB: RMIOF) (FSE: D4R)
("
Romios
" or the "
Company
") is pleased to announce that, further
to its Press Release of September 18, 2023, it has closed its non-brokered private placement with the
sale of 4,266,699 flow-through units (the "
FT Units
") and 5,975,033 working capital units (the "
WC
Units
")
for gross proceeds of $307,251.96 (the "
Offering
").
Each FT Unit is priced at $0.03 and consists of one (1) common share and one-half (0.5) share
purchase warrant (a "
FT Warran
t").
Each full FT Warrant entitles the holder to purchase one (1) common
share (a "
FT
Warrant Share
") at a price of $0.05 per FT Warrant Share until October 27, 2025.
Each WC Unit is priced at $0.03 and consists of one (1) common share and one (1) share purchase
warrant (a "
WC Warran
t").
Each WC Warrant entitles the holder to purchase one (1) common share (a
"
WC
Warrant Share
") at a price of $0.05 per WC Warrant Share until October 27, 2025.
Accilent Capital Management Inc. was paid $3,500.07 in cash and issued 116,669 compensation
warrants ("
Compensation Warrants
"). Each Compensation Warrant entitles the holder to acquire one
(1) common share of the Company at a price of $0.05 per share until October 27, 2025.
Funds will be used for exploration of the numerous Copper-Gold-Silver prospects at the Company's
'Golden Triangle' Properties in northwestern British Columbia, including the Trek South Property located
along the southern border of the giant Galore Creek project co-owned by Newmont and Teck, as well as
its Lundmark-Akow Lake Au-Cu property in Ontario and its Kinkaid Gold-Silver-Copper property in
Nevada, and for working capital. All securities issued under the Offering are subject to a statutory hold
period expiring on February 28, 2024.
Insiders of the Company subscribed for 2,199,999 FT Units for $65,999.97 and 875,000 WC Units for
$26,250 under the Offering, for aggregate participation of $92,250. The insider private placements are
exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-
101 ("
MI 61-101
") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in
that the fair market value of the consideration for the securities of the Company which were issued to the
insiders does not exceed 25% of its market capitalization.
Update on Honey Badger Silver/Romios Gold Resources Agreement
In response to the increasing interest in silver projects in recent years, in 2020 Romios staked 5 historic
silver prospects comprising 87 claims over 1,853 Hectares in the Thunder Bay silver camp (the "Thunder
Bay Silver Claims"). In the late 1800s-early 1900s, the Thunder Bay area was home to dozens of silver
mines, including the famous Silver Islet mine which produced 2.87 million ounces of silver, and there has
been very little work on many of these sites since that time. The Thunder Bay Silver Claims cover three
prospects with old mine workings - the Lily of the Valley, Victoria and the Federal/Copeland mines, and
two more grass-roots prospects with reported silver occurrences — the Cariboo and Cloud Bay claims.
After a brief field examination in 2020, the strategic decision was made in early 2021 to sell an 80%
interest in these claims to Honey Badger Silver Inc. in return for $150,000 worth of Honey Badge shares.
(
See Press Release — June 10, 2021
) Honey Badger has extensive silver claim holdings in the Thunder
Bay area and in 2022 they undertook basic prospecting and mapping programs on the Thunder Bay
Silver Claims acquired from Romios. Honey Badger has subsequently acquired major silver projects in
Yukon and the NWT and on October 17
th
, 2023 Honey Badger announced their decision to return the
Thunder Bay Silver Claims to Romios (
See Honey Badger Press Release
).
Romios believes that several of the Thunder Bay Silver Claims still have considerable merit and warrant
more focussed exploration to trace the veins along strike in an effort to locate jogs in the vein systems
where they may "blow out" into wider, more mineralized sections. A program of inexpensive geophysical
and geochemical surveys is now under consideration for these projects.
Qualified Person
The technical information in this news release has been reviewed and approved by John Biczok, P.
Geo., VP-Exploration for Romios and a Qualified Person as defined by National Instrument 43-101.
About Romios Gold Resources Inc.
Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in
precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100%
interest in the Lundmark-Akow Lake Au-Cu property plus 4 additional claim blocks in northwestern
Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the
"Golden Triangle" of British Columbia. Additional interests include the Kinkaid claims in Nevada
covering numerous Au-Ag-Cu workings and two former producers: the Scossa mine property (Nevada)
which is a former high-grade gold producer and the La Corne molybdenum mine property (Quebec). The
Company also has five claim blocks in the Thunder Bay silver district of northwestern Ontario. Romios
Gold retains an ongoing interest in several properties including a 2% NSR on McEwen Mining's Hislop
gold property in Ontario; a 2% NSR on Enduro Metals' Newmont Lake Au-Cu-Ag property in BC; and the
Company has signed a definitive agreement with Copperhead Resources Inc. ("Copperhead") whereby
Copperhead can acquire a 75% ownership interest in Romios' Red Line Property in BC.
For more information, visit
www.romios.com
.
As part of our ongoing effort to keep investors, interested parties and stakeholders updated, we have
several communication portals. If you have any questions online (
,
,
) please
feel free to send direct messages.
To book a one-on-one 30-minute Zoom video call, please
click
here
.
For further information, please contact:
Stephen Burega, President and CEO - 647-515-3734 or
This News Release contains forward-looking statements which are typically preceded by, followed by or
include the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar
expressions. Forward-looking statements are not guarantees of future performance as they involve risks,
uncertainties and assumptions. We do not intend and do not assume any obligation to update these
forward-looking statements and shareholders are cautioned not to put undue reliance on such
statements. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of this
release.
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