Toronto, Ontario--(Newsfile Corp. - May 22, 2018) - Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) ("Romios" or the "Company") wishes to announce that it is extending the offering, announced on April 9, 2018, of a non-brokered private placement of 5,000,000 flow-through units (the "FT Units") for $450,000 and 5,000,000 working capital units (the "WC Unit") for $350,000 for an aggregate of up to $800,000 (the "Offering") for a further thirty days. Depending upon investor interest, the Company may place more WC Units or more FT Units but in any event does not intend to issue more than an aggregate of 10 million units.
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 is priced at $0.09 and 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 the date which is twelve (12) months following the Closing of the Offering.
Each WC Unit is priced at $0.07 and 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 the date which is twelve (12) months following the Closing of the Offering.
Eligible Finders may receive up to 8% of the value of proceeds of the sale of FT Units or WC Units in cash and up to 5% of the number of FT Units or WC Units sold in the form of broker warrants. Each broker warrant issued in respect of the sale of FT Units (the "FT Broker Warrants") entitles the holder to acquire one (1) common share of Romios at $0.09 for a period of twelve (12) months from the Closing of the Offering and each broker warrant issued in respect of the sale of WC Units (the "WC Broker Warrants") entitles the holder to acquire one (1) common share of Romios at $0.07 for a period of twelve (12) months from the Closing of the Offering.
The Offering is expected to close on or before May 31, 2018, or such other date as is agreed between the Company and the subscribers. All securities issued under the Offering are subject to a statutory four month hold period.
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.