Romios Announces Non-Brokered Offering
Romios Announces Non-Brokered Offering
Toronto, Ontario--(Newsfile Corp. - October 6, 2020) -
Romios Gold Resources Inc.
(TSXV: RG)
(OTC Pink: RMIOF) (FSE: D4R)
("
Romios
" or the "
Company
")
is pleased to announce the offering of
a non-brokered private placement of up to 10,000,000 flow-through units (the "
FT Units
")
for up to
$650,000 or up to 10,000,000 working capital units (the "
WC Unit
") for up to $500,000 or a combination
thereof to a maximum of 10,000,000 units (the "
Offering
").
Each FT Unit is priced at $0.065 and consists of one (1) common share and one (1) share purchase
warrant ("
Warran
t"). Each Warrant entitles the holder to purchase one (1) common share (a "
Warrant
Share
") at a price of $0.10 per Warrant Share until the date which is twelve (12) months following the
Closing of the Offering.
Each WC Unit is priced at $0.055 and consists of one (1) common share and one (1) common share
purchase warrant ("
WC Warrant
").
Each WC Warrant entitles the holder to purchase one (1) common
share (a "
WC Warrant Share
") at a price of $0.10 per WC Warrant Share until the date which is twelve
(12) following the Closing of the Offering.
Eligible Finders may receive up to 6% of the value of proceeds on the sale of the WC Units and FT Units
in cash and up to 6% of the number of FT Units or WC Units sold in the form of broker warrants. Each
broker warrant issued in relation to the sale of FT Units ("
Broker Warrants
") entitles the holder to
acquire one (1) common share of the Corporation at a price of $0.065 for twelve (12) months from the
closing of the Offering and each broker warrant issue in relation to the sale of WC Units ("
WC Broker
Warrants
") entitles the holder to acquire one (1) common share of the Corporation at a price of $0.055
for twelve (12) months from the closing of the Offering.
Funds will be used for exploration and working capital. All securities issued under the Offering are
subject to a statutory four month hold period. The transaction is subject to TSX Venture Exchange
approval.
Insiders of the Company will subscribe for up to 25% of the Offering. 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 will be issued to
the insiders does not exceed 25% of its market capitalization.
About Romios Gold Resources Inc.
Romios Gold Resources Inc., a progressive Canadian mineral exploration company established in
1995, is engaged in precious and base metal exploration primarily focused on gold, silver and copper. It
has extensive claim holdings covering porphyry copper-gold prospects in the "Golden Triangle" of British
Columbia as well as a 100% interest in the Lundmark-Akow Lake gold-copper property in Ontario, the
La Corne molybdenum property in Quebec and the Scossa gold property in Nevada. The Company also
retains a 2% NSR on the Hislop gold property in Ontario.
This News Release contains forward-looking statements which are typically preceded by, followed by
or including 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. 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.
For further information, please contact:
Tom Drivas,
President and Director, (tel) 416-221-4124, (fax) 416-218-9772 or (email)
.
Frank van de Water
, Chief Financial Officer and Director, (tel) 416-221-4124 or (email)
.
John Biczok,
P. Geo., Vice-President, Exploration, (tel) 613-410-7877 or (email)
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/65330