Toronto, Ontario--(Newsfile Corp. - June 6, 2018) - Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) ("Romios" or the "Company") wishes to announce that further to its press releases dated April 9, 2018 and May 22, 2018, it has closed its non-brokered private placement offering with the sale of 523,334 flow-through units (the "FT Units") of the Company at a price of $0.09 per FT Unit for $47,100.06 and 2,900,000 working capital units ("WC Unit") at a price of $0.07 per WC Unit for $203,000 for aggregate gross proceeds of $250,100.06 (the "Offering").
Proceeds from the Offering are expected to be used to advance the exploration program on 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 promising Burgundy Ridge discovery and the NI 43-101 compliant Northwest Zone resource, as well as other properties, and for working capital.
Each FT Unit consists of one (1) common share and one-half (0.5) of a share purchase warrant. Each full warrant ("Warrant") entitles the holder to purchase one (1) common share (a "Warrant Share") at a price of $0.12 per Warrant Share until June 5, 2019.
Each WC Unit consists of one (1) common share and one (1) common share purchase warrant ("WC Warrant"). Each WC Warrant entitles the holder to purchase one (1) common share (a "WC Warrant Share") at a price of $0.12 per WC Warrant Share until June 5, 2019.
All securities issued pursuant to the Offering are subject to a statutory four month hold period expiring on October 6, 2018.
Two insiders of the Company subscribed for 523,334 FT Units in this Offering. The insiders' 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 section 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 insiders 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 in its properties in the Golden Triangle area, northwestern British Columbia. In addition to the Lundmark-Akow Lake and Hislop properties in Ontario, Romios has other property interests in Quebec and Nevada.
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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Tom Drivas, President and Director, (tel) 416-221-4124, (fax) 416-218-9772 or (email) romios@romios.com.
John Biczok, P.Geo., VP-Exploration, (tel) 613-410-7877 or (email) john.biczok@gmail.com.
Frank van de Water, Chief Financial Officer and Director, (tel) 416-221-4124 or (email) fvandewater@rogers.com.