Romios Gold Resources Announces Final Closing of Non-Brokered Offering
TSX VENTURE: RG
Toronto, Ontario--(Newsfile Corp. - December 31, 2018) - 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 a non-brokered flow-through share private placement (the "Offering") with the sale of 1,150,000 flow-through shares (the "FT Shares") at a price of $0.065 per FT Share for aggregate proceeds of $74,750. Combined with the proceeds of the first tranche, the total proceeds of the Offering is $614,750.
The securities issued are subject to a statutory hold period expiring on May 1, 2019.
Proceeds from the Offering are expected to be used for exploration of the Company's properties in British Columbia and Ontario.
An insider of the Company and an affiliate of the insider subscribed for the 1,150,000 FT Shares. The insider private placement is 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 insider did not exceed 25% of its market capitalization.
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 LaCorne 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.
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