Toronto, Ontario–(Newsfile Corp. – 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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