Romios Closes Final Tranche of Non-Brokered Offering
Romios Closes Final Tranche of Non-Brokered
Offering
Toronto, Ontario--(Newsfile Corp. - December 18, 2020) -
Romios Gold Resources Inc.
(TSXV: RG)
(OTC Pink: RMIOF) (FSE: D4R)
("
Romios
" or the "
Company
")
is pleased to announce that it has
closed the final tranche of its non-brokered private placement, referred to in its press release dated
December 9, 2020 (the "
Offering
"), with the issuance of 13,838,770 flow-through units (the "
FT Units"
)
for gross proceeds of $899,520.05 and 1,500,000 working capital units ("
WC Units
") for gross
proceeds of $82,500.00. The Company raised gross proceeds of $982,020.05 in the final tranche and
total gross proceeds of $1,227,020.05 pursuant to 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 December 17, 2021.
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 December 17, 2021.
Eligible Finders were paid $45,001.20 in cash and issued 692,325 broker warrants ("
Broker
Warrants
"). Each Broker Warrant entitles the holder to acquire one (1) common share of the Company
at a price of $0.065 until December 17, 2021.
Proceeds from the Offering are expected to be used for exploration and drilling of the Company's
properties in British Columbia and Ontario as well as for working capital.
Three (3) insiders of the Company subscribed for 2,300,000 FT Units for $149,500 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 issued to the insiders does not exceed 25% of its market capitalization.
All securities issued are subject to a statutory hold period expiring on April 18, 2021.
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
on its properties in the Golden Triangle area, northwestern British Columbia. In addition to the properties
in the Golden Triangle area, Romios holds a 100% interest in the Lundmark-Akow Lake property in
Ontario, the La Corne Property in Quebec and the Scossa Property in Nevada. It also holds a 2% Net
Smelter Return Royalty on the Hislop 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)
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/70608