CORRECTION FROM SOURCE: ROMARCO ANNOUNCES $80
MILLION BOUGHT DEAL FINANCING
- Sept. 27, 2011) -
A correction from source is being issued with respect to the Romarco Minerals Inc. release that was disseminated today
September 27th at 7:41 am ET. The corrected news release follows.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
ROMARCO MINERALS INC. (TSX:R) (the "Company" or "Romarco") is pleased to announce that it has entered
into an agreement with a syndicate of underwriters led by National Bank
Financial Inc. and BMO Capital Markets (the "Underwriters"), under
which the Underwriters have agreed to buy from the Company, on a bought deal
basis, 70,000,000 common shares at an issue price of $1.15 per common share
for gross proceeds of $80,500,000 (the "Offering").
The Underwriters have been granted an over-allotment option for the Offering,
exercisable at any time prior to 30 days after the closing date of the
Offering, to acquire up to an additional 10,500,000 common shares of the
Company at the issue price applicable to the Offering. The Company must file
a short form prospectus with the securities regulatory authorities to qualify
the common shares for distribution.
The net proceeds from the Offering will be used to fund the development of
the Haile Gold mine and for general corporate purposes. Closing of the Offering
is expected to occur on or about October 19, 2011.
The Offering is being made in all provinces of Canada other than Quebec, and
is subject to the approval of regulatory authorities.
This press release shall not constitute an offer to sell or the solicitation
of an offer to buy nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful.
This news release and the information contained herein does not constitute an
offer of securities for sale in the United States and securities may not be
offered or sold in the United States absent registration or exemption from
About Romarco Minerals Inc.
Romarco Minerals Inc. is a gold development company
focused on production primarily in the US. The Company has completed a
positive Feasibility study and is continuing exploration and permitting for
its flagship project, the Haile Gold Mine in South Carolina.
This entire press release may be accessed via fax, e-mail, Romarco's website at www.romarco.com and through CNW
Group's website at www.newswire.ca. All material information on Romarco Minerals Inc. can be found at www.sedar.com.