Romios Closes Oversubscribed Non-Brokered Offering
Romios Closes Oversubscribed Non-Brokered
Offering
Toronto, Ontario--(Newsfile Corp. - November 5, 2021) -
Romios Gold Resources Inc.
(TSXV: RG)
(OTCQB: RMIOF) (FSE: D4R)
("Romios Gold" or the "Company")
is pleased to announce that it
has closed its non-brokered private placement, referred to in its news release dated October 7, 2021
(the "
Offering
"), with the issuance of 5,420,000 flow-through units (the "
FT Units"
) for gross proceeds
of $271,000 and 4,800,000 working capital units ("
WC Units
") for gross proceeds of $240,000. The
Company raised total gross proceeds of $511,000 pursuant to the Offering.
Each FT Unit is priced at $0.05 and consists of one (1) common share and one half (1/2) of a common
share purchase warrant. Each full warrant (a "
Warran
t") entitles the holder to purchase one (1) common
share (a "
Warrant Share
") at a price of $0.08 per Warrant Share until November 4, 2022.
Each WC Unit is priced at $0.05 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 $0.08 per WC Warrant Share until November 4, 2022.
An Eligible Finder was paid $600 in cash and issued 12,000 broker warrants ("
Broker Warrants
").
Each Broker Warrant entitles the holder to acquire one (1) common share of the Company at a price of
$0.05 until November 4, 2022. Another Eligible Finder was issued 84,000 common shares and 84,000
WC Warrants in lieu of a cash finder's fee.
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.
Five (5) insiders of the Company subscribed for 2,700,000 FT Units for $135,000 of the Offering. And
one (1) insider of the Company subscribed for 500,000 WC Units for $25,000 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 March 5, 2022.
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 gold-copper property in northwestern Ontario and extensive claim holdings
covering several significant porphyry copper-gold prospects in the "Golden Triangle" of British
Columbia. Additional interests include two former producers, the La Corne molybdenum mine property
(Quebec) and a former high-grade gold producer, the Scossa mine property (Nevada). The Company
also retains an ongoing interest in several properties including a 20% carried interest in five claim blocks
in the Thunder Bay silver district of northwestern Ontario and 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
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.
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 visit
romios.com
or contact:
Stephen Burega
, President - (647) 515-3734 or
Frank van de Water
, Chief Financial Officer and Director - (416) 221-4124
or
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/102151