Romios Gold Resources Inc

Published : June 10th, 2016

Romios Announces Non-Brokered Offering and First Closing

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Keywords :   Copper | Gold Mine | Silver | Water |

Romios Announces Non-Brokered Offering and First Closing

TORONTO, ONTARIO, June 9, 2016, Romios Gold Resources Inc. (TSX.V -RG) ('Romios' or the 'Company') is pleased to announce that it has closed the first tranche of a non-brokered private placement with the sale of 2,900,000 flow-through units ('FT Units') at $0.07 per FT Unit for gross proceeds of $203,000. The securities issued are subject to a hold period expiring on October 10, 2016. The Company is Offering up to a further 2,900,000 FT Units for up to a further $203,000 and up to 3,400,000 working capital units (the 'WC Units') of the Company at a price of $0.06 per WC Unit for up to $204,000 (collectively, the 'Offering'). The Company will leave the Offering open until the earlier of the sale of the WC Units and the remaining FT Units or July 13, 2016.

The funds from the Offering will be used for a drill program on the Company's Lundmark-Akow Lakes property. The drill program will test the significance of the geophysical anomalies which are deeper than those tested in previously drilled holes. See the Company's Press Release dated May 19, 2016. The Lundmark-Akow Lakes claims are located just north of Goldcorp's Muselwhite Mine, within the North Caribou Lake greenstone belt in the Patricia Mining Division, northwestern Ontario.

Each FT Unit was priced at $0.07 and consisted of one (1) common share and one-half (½) of one share purchase warrant. Each full Warrant (a 'Warrant') entitles the holder to purchase one (1) common share (a 'Warrant Share') at a price of $0.15 per Warrant Share until the earlier of: (i) June 9, 2017; and (ii) in the event that the closing price of the Common Shares on the TSX Venture Exchange is at least $0.20 for twenty (20) consecutive trading days, and the 20th trading day (the 'Final Trading Day') is at least four (4) months from the Closing Date, the date which is thirty (30) days from the Final Trading Day (the 'Trigger Date'). The Company paid cash finder's fees of $4,900 and issued 70,000 broker warrants ('Broker Warrants') in respect of the first closing. Each Broker Warrant entitles the holder to acquire a common share, priced at $0.07 until June 9, 2017.

Each WC Unit is priced at $0.06 and consists of one (1) common share and one (1) common share purchase warrant (a 'WC Warrant'). Each WC Warrant entitles the holder to purchase one (1) common share (a 'WC Warrant Share') exercisable for a period of one (1) year following the Closing Date, subject to earlier expiry on the Trigger Date, at a price of $0.12 per WC Warrant Share.

Each further FT Unit is priced at $0.07 and consists of one (1) common share and one-half (½) of one Warrant. Each full Warrant entitles the holder to purchase one (1) Warrant Share exercisable for a period of one (1) year following the Closing Date, subject to earlier expiry on the Trigger Date, at a price of $0.15 per Warrant Share.

Eligible Finders may receive up to 7% of the value of proceeds of the sale of FT Units or WC Units in cash and up to 7% of the number of WC Units or FT Units sold in the form of broker warrants. Each broker warrant entitles the holder to acquire one (1) common share of Romios at $0.07 for FT Units sold and $0.06 for WC Units sold for a period of one (1) year from the Closing Date.

Insiders of the Company subscribed for 900,000 FT Units of the Offering. The insider 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 contain 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.

All securities issued pursuant to the above referenced private placements 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 British Columbia centrally located between Galore Creek Mining Corporation's large copper-gold-silver deposit and Barrick's high grade gold mine at Eskay Creek. Romios has other property interests in Ontario, 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) [email protected].

Frank van de Water, Chief Operating Officer and Director, (tel) (416) 221-4124 or (email) [email protected].

Read the rest of the article at www.publicnow.com

Romios Gold Resources Inc

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CODE : RG.V
ISIN : CA7759041055
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Romios Gold Res. is a gold producing company based in Canada.

Romios Gold Res. holds various exploration projects in Canada.

Its main asset in production is SCOSSA GOLD in USA and its main exploration properties are LA CORNE, SEAGOLD, LUNDMARK-AKOW LAKE, CRY LAKE (NIZI CREEK), JW PROPERTY, TIMMINS HISLOP, TREK, NEWMONT LAKE and ROYCE/PORC in Canada.

Romios Gold Res. is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 6.7 millions as of today (US$ 5.3 millions, € 4.7 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 1.02, and its lowest recent point on November 15, 2019 at CA$ 0.02.

Romios Gold Res. has 167 270 000 shares outstanding.

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Annual reports of Romios Gold Resources Inc
Annual Report Filed on SEDAR
Financings of Romios Gold Resources Inc
12/12/2011Closes Flow-Through Financing
3/29/2011Closes $1.3 Million Financing
Option Grants of Romios Gold Resources Inc
6/28/2007Announces Appointment of New C.F.O. and Grant of Stock Optio...
Nominations of Romios Gold Resources Inc
4/9/2013Announces Appointment of Chief Operating Officer
2/16/2011Announces Appointment of New C.F.O.
Project news of Romios Gold Resources Inc
2/19/2014Obtains Exploration Permit And Enters Into A Letter Of Inten...
1/27/2014Expands its Land Position in Northwestern B.C.
1/23/2014to Exhibit at the Mineral Exploration Roundup
10/7/2013reports an average 0.47% copper, 0.27g/t gold and 3.77 g/t s...
7/15/2013s Activity on the Timmins - Hislop Property
1/24/2013to Exhibit at the Mineral Exploration Roundup
10/25/2012(Newmont Lake)Intersects 3.99 g/t Au, 0.17% Cu & 2.36 g/t Ag Over 11.35 Me...
8/27/2012Expands Tenure Position And Provides Exploration Update On I...
8/9/2012Provides an Update on its Exploration Program in the Golden ...
7/10/2012Commences Drilling And Exploration In The Golden Triangle, N...
5/29/2012Announces $1.4 Million Exploration Program for 2012 in the G...
4/18/2012(Trek): Activities Update on the Trek and Newmont Lake Projects, N...
4/3/2012is Pleased by AltaGas and Tahltan First Nations Agreement to...
3/5/2012(Trek)Presents Status Update on Trek Property Copper-Gold-Silver P...
1/11/2012(Timmins Hislop)Options Timmins Hislop Property to Mexivada
7/12/2011(Trek).: Ground Geophysical Survey Indicates Continuity of the Dee...
6/2/2011(Trek)Announces the Commencement of Its Aggressive $6.0+ Million D...
5/5/2011(Trek)Announces Aggressive $6.0+ Million Exploration Program for 2...
5/5/2011(Newmont Lake)Announces Aggressive $6.0+ Million Exploration Program for 2...
5/5/2011(Trek)Announces Aggressive $6.0+ Million Exploration Program for 2...
5/5/2011(Newmont Lake)Announces Aggressive $6.0+ Million Exploration Program for 2...
12/18/2007(Newmont Lake) Intersects 7.82 GPT Gold over 19.69 Metres...
5/16/2007Announces Filing of National Instrument 43-101 Report
5/15/2007To Initiate a Diamond Drilling Program on its Property in th...
Corporate news of Romios Gold Resources Inc
7/28/2016Romios Closes Non-Brokered Offering
7/13/2016Romios Announces the Appointment of Aranea Partners, Inc. as...
6/10/2016Romios Announces Financial Support for its Akow Lake Project...
6/10/2016Romios Announces Non-Brokered Offering and First Closing
5/19/2016Romios Announces Financial Support For Its Akow Lake Project...
4/20/2016Romios Announces Grant of Stock Options
1/5/2016Romios Gold Announces Appointment of Chief Financial Officer
9/10/2015Romios Announces Additional Prospecting and Sampling on Its ...
2/12/2015Romios Announces Results of a Geotech Ltd. VTEM(R) plus Airb...
11/4/2014Romios Unaware of Any Material Change
9/23/2014Romios Reports on Its 2014 Burgundy Ridge Exploration Progra...
7/22/2014Romios Commences Summer Exploration Program on Its Newmont L...
6/26/2014Romios Announces 2014 Summer Exploration Program on Its Newm...
5/6/2014Romios Announces Grant of Stock Options
4/16/2014Romios' ZTEM Survey Results on the Newmont Lake Property Ide...
2/7/2014Doubles Its Holdings In Sheslay Valley, B.C.
10/7/2013Reports an Average 0.47% Copper, 0.27 g/t Gold and 3.77 g/t ...
9/18/2013(Newmont Lake)Announces Completion Of A 359 Line Km Helicopter-Borne ZTEM ...
9/18/2013(Newmont Lake)Announces Completion of A 359 Line Km Helicopter-Borne ZTEM ...
9/4/2013Announces Initial Exploration Results For 2013, Including Di...
7/15/2013s Activity on the Timmins-Hislop Property
5/30/2013Acquires Additional 2900 Hectares in Its Golden Triangle Pro...
5/30/2013Acquires Additional 2900 Hectares in Its Golden Triangle Pro...
4/26/2013Re-Adopts Shareholder Rights Plan and Updates By-Laws
11/13/2012Encounters Gold, Copper, Silver and Significant Scandium Min...
10/30/20122012 China Mining Conference and Exhibition and Canada Miner...
10/25/2012(Newmont Lake)Intersects 3.99 g/t Au, 0.17% Cu & 2.36 g/t Ag over 11.35 Me...
10/10/2012(Newmont Lake)Encounters Widespread Gold, Copper, and Silver Mineralizatio...
10/10/2012Encounters Widespread Gold, Copper, and Silver Mineralizatio...
9/4/2012Lawrence Roulston Features Romios Gold
7/20/2012Featured on CEO Clips Airing on BNN
4/6/2012Romios Gold Among Rush to Develop BC's Golden Triangle
3/1/2012Please Visit Romios Gold at PDAC's Investors Exchange Booth ...
1/12/2012Mid-Day Breaking News From Blue River, Alexandria, Eagle Hil...
1/12/2012(La Corne)Intersects 100.90 metres (331.04 feet) of 0.061% MoS2 Inclu...
12/14/2011(Trek)Intersects 7.87% Cu, 2.17 g/t Au, 40.39 g/t Ag over 2.15 m w...
8/4/2011Jay Taylor Gives Romios a New Buy Recommendation, July 29, 2...
6/28/2011(Trek)Announces Completion of NI 43-101 Report for Its Trek Proper...
6/23/2011Announces Completion of Airborne Geophysical Survey Over the...
4/20/2011.: Unaware of Any Material Change
3/2/2011Northwest Power Line Environmental Assessment Certificate Ap...
6/5/2007Confirms That it Abandoned Merger With Copper Canyon Resourc...
6/5/2007Announces not Proceeding with Merger With Copper Canyon Reso...
5/8/2007FUGRO AIRBORNE GEOPHYSICAL SURVEYS AT THEIR GALORE CREEK PRO...
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