08:48:51 EDT Fri 03 May 2024
Enter Symbol
or Name
USA
CA



Romios Gold Resources Inc
Symbol RG
Shares Issued 241,873,120
Close 2023-07-20 C$ 0.025
Market Cap C$ 6,046,828
Recent Sedar Documents

Romios Gold Resources arranges private placement

2023-07-21 11:33 ET - News Release

Mr. Stephen Burega reports

ROMIOS ANNOUNCES NON-BROKERED OFFERING

Romios Gold Resources Inc. has arranged a non-brokered private placement of up to 7.5 million flow-through shares (the FT shares) priced at five cents per FT share, for up to $375,000, and up to 9,375,000 working capital units (the WC units) priced at four cents per WC unit, for up to $375,000.

Proceeds from the offering are expected to be used for exploration of the numerous copper-gold-silver prospects at the company's Newmont Lake project within its large (72,368 hectares/178,825 acres) Golden Triangle property in northwestern British Columbia, including the Trek South property, 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.

Each FT share is priced at five cents and is issued on a flow-through basis.

Each WC unit is priced at four cents and consists of one common share and one common share purchase warrant. Each WC warrant entitles the holder to purchase one common share at a price of eight cents per WC warrant share until the date which is 24 months following the closing of the offering.

Eligible finders may receive up to 7 per cent of the value of proceeds on the sale of the WC units and FT shares in cash and up to 7 per cent of the number of FT shares or WC units sold in the form of broker warrants. Each broker warrant issued in relation to the sale of FT shares and WC units entitles the holder to acquire one common share of the corporation at a price of five cents for 24 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. No funds from the sale of WC units will be used for payments to non-arm's-length parties or for investor relations activities. The funds from the sale of the WC units will be allocated as to 80 per cent for exploration of the company's property in Nevada and 20 per cent for general working capital.

Insiders of the company may subscribe for up to 25 per cent of the offering. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 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 per cent of its market capitalization.

About Romios Gold Resources Inc.

Romios Gold Resources 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-per-cent interest in the Lundmark-Akow Lake Au-Cu property plus four 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 retains a continuing interest in several properties, including a 20-per-cent carried interest in five of Honey Badger Mining's claim blocks in the Thunder Bay silver district of Northwestern Ontario; a 2-per-cent net smelter return on McEwen Mining's Hislop gold property in Ontario; a 2-per-cent NSR on Enduro Metals' Newmont Lake Au-Cu-Ag property in B.C.; and the company has signed a definitive agreement with Copperhead Resources Inc. whereby Copperhead can acquire a 75-per-cent ownership interest in Romios's Red Line property in B.C.

We seek Safe Harbor.

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