Romios Announces Closing of $208,000 Non-Brokered Offering
Toronto, December 30, 2022 - 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 December 23, 2023, it has closed its non-brokered private placement on the increased amount of 5,200,000 flow-through units (the "FT Units") for $208,000 (the "Offering").
Each FT Unit is priced at $0.04 and consists of one (1) common share and one (1) share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one (1) common share (a "Warrant Share") at a price of $0.08 per Warrant Share until December 30, 2024.
Qwest Investment Fund Management Ltd. was paid $9,000 in cash and issued 225,000 compensation warrants ("Compensation Warrants"). Each Compensation Warrant entitles the holder to acquire one (1) common share of the Company at a price of $0.08 until December 30, 2024.
Funds will be used for exploration of the Company's properties in BC. All securities issued under the Offering are subject to a statutory hold period expiring on May 1, 2023.
Insiders of the Company subscribed for $50,000 of FT Units under 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. 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 retains an ongoing interest in several properties including a 20% carried interest in five of Honey Badger Mining's claim blocks in the Thunder Bay silver district of northwestern Ontario; 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.
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For further information, please contact:
Stephen Burega, President and CEO - 647-515-3734 or sburega@romios.com
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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