Romios Gold Resources Inc. (TSX-V: RG) wishes to announce that it is offering up to 10,500,000 common shares on a flow-through basis (the "FT Shares") priced at $0.50 per FT Share for gross proceeds of up to $5,250,000 (the "FT Offering"). The Corporation may pay a finder's fee and/or commission of up to 8% in cash and warrants to acquire that number of common shares equal to 8% of the number of FT Shares subscribed for with each warrant exercisable at a price of $0.50 per common share for a period of one year from closing.
In addition, Romios is offering up to 1,250,000 common shares (the "Shares") priced at $0.40 per Share for gross proceeds of up to $500,000 (the "WC Offering"). The Corporation may pay a finder's fee and/or commission of up to 8% in cash and warrants to acquire that number of common shares equal to 8% of the number of Shares subscribed for with each warrant exercisable at a price of $0.40 per common share for a period of one year from closing.
Insiders may subscribe for up to $250,000 of the FT Offering representing 500,000 FT Shares and for $10,000 of the WC Offering representing 25,000 Shares.. The insider private placements are exempt from the valuation and minority shareholder approval requirements of OSC Rule 61-501 (the "Rule") by virtue of the exemptions contain in section 5.5 2 and 5.7(1)2 of the Rule in that the fair market value of the consideration for the securities of the Corporation to be issued to insiders does not exceed 25% of its market capitalization.
The proceeds from the FT Offering will be used for exploration on the Corporation's properties in Canada and the net proceeds from the WC Offering will be used for working capital.
About Romios Gold Resources Inc.
Romios Gold Resources Inc is a Canadian exploration company which focuses on the acquisition and exploration of precious and base metal prospects in the vicinity of major mining camps throughout North America. Currently, Romios is involved in several major exploration projects in British Columbia, Ontario and Nevada. Romios has been a public company since 1995 and in addition to trading on the Toronto Venture Exchange, it trades on the Over-The-Counter market in the United States (Exemption No. 82-5093, symbol: RMIOF) and on the Frankfurt Stock Exchange in Germany (symbol: D4R).
For further information, please contact:
Tom Drivas, President and Director:
(tel) 416-221-4124, (fax) 416-218-9772 or (email) email@example.com
Thomas Skimming, Vice President of Exploration and Director:
(tel) 416-444-0900, (fax) 416-444-0586 or (email) firstname.lastname@example.org
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: This Press Release contains forward-looking statementsthat involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements. Shareholders are cautioned not to put undue reliance on such forward-looking statements.