FOR IMMEDIATE RELEASE
� February 21, 2008
NON-BROKERED PRIVATE PLACEMENT
Sparks, NV - ROMARCO
MINERALS INC. (TSXV: R) (the "Company") today announced that it will
not be proceeding with the brokered private placement (the "Brokered
Offering") that it announced on January 29, 2008, due to the fact that
existing shareholders of the Company have agreed to purchase the same number of
units on a non-brokered basis (the "Non-brokered Offering").� The board of directors of the Company has
determined that it is in the best interests of the Company to proceed with the
Non-brokered Offering, rather than the Brokered Offering, at this time.� The Non-brokered Offering will consist of up
to 30 million units (the "Units") at $0.17 per Unit, for aggregate
gross proceeds of up to $5.1 million.�
Each Unit is comprised of one common share in the capital of the Company
(a "Common Share") and one Common Share purchase warrant (a
"Warrant").� Each Warrant will
entitle the holder thereof to purchase one Common Share for a period of two
years from the closing date of the Non-brokered Offering at an exercise price
of $0.21 per Common Share.�
President and C.E.O. of the Company, commented, "We are pleased that our
existing shareholders have agreed to purchase the Units and we would like to
thank MGI Securities Inc. for all of its efforts in connection with the initial
stages of the Brokered Offering".
Closing of the
Non-brokered Offering is scheduled to take place on or before March 21, 2008,
and is subject to the satisfaction of customary closing conditions including
the receipt of necessary regulatory approvals.
The net proceeds
from the Non-brokered Offering will be used, together with the Company's
existing cash resources, to fund�
exploration and a bankable Feasibility Study for the Haile
Gold Mine, for exploration at the Company's Pinos
District in Mexico and for general working capital purposes.
issued pursuant to the Offering will be subject to a four month hold period..
Romarco Minerals Inc. is a gold development company
focused on production in the US and Mexico. The Company's flagship project is
the Haile Gold Mine in South Carolina which is
currently undergoing feasibility and exploration. The Pinos
Gold District in Mexico is a high grade epithermal vein district in the
advanced exploration stage. The Company also has three gold exploration
projects in Nevada.
information, please contact Diane Garrett, President and C.E.O. at (830)
634-7489 or by e-mail at firstname.lastname@example.org or Shirene
Urton, Executive Assistant at (775) 355- 1900 or by
e-mail at email@example.com.
BEHALF OF ROMARCO MINERALS INC.
Diane R. Garrett,
This news release
does not constitute an offer to sell or a solicitation of an offer to buy any
of the securities in the United States.�
The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the "U.S. Securities Act")
or any state securities laws and may not be offered or sold within the United
States or to U.S. Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such registration is
THE TSX VENTURE
EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS PRESS RELEASE.
Distribution to U.S. Newswire Services or for Dissemination in the United
Street�� Tel: (775) 355-1900
Nevada��� Fax: (775) 355-1907
USA 89431�������� firstname.lastname@example.org