Romios Announces Closing of $5,180,900 Flow-Through Offering With MineralFields Group, Trinity Wood Mining, frontierAlt and Othe
January 07 2008 - 10:52AM
Marketwired Canada
Romios Gold Resources Inc. (TSX VENTURE:RG)(OTCBB:RMIOF)(FRANKFURT:D4R) wishes
to announce that, further to its press release dated December 21, 2007, it has
completed the sale of 10,361,800 common shares on a flow-through basis (the "FT
Shares") priced at $0.50 per FT Share for gross proceeds of $5,180,900 (the "FT
Offering"). A total of 6,000,000 of the FT Shares were placed with the
MineralFields Group. Limited Market Dealer Inc. received 480,000 common shares
priced at $0.50 per share as a finder's fee and 480,000 share purchase warrants
to acquire common shares at a price of $0.50 per share in the first year and
$0.90 per share in the second year expiring on December 28, 2009 with respect to
the placement with the MineralFields Group. A further 3,817,800 FT Shares were
placed with the Trinity Wood Mining and frontierAlt limited partnerships. Mak
Allen & Day Capital Partners Inc. received a cash finder's fee of $152,712 with
respect to this placement as well as warrants to acquire 305,424 common shares
on the same terms as set out above. A total of 544,000 of the FT shares were
placed with insiders of the Corporation and an additional arm's-length
subscriber.
The Corporation has also completed the issuance of 525,000 common shares (the
"Shares") priced at $0.40 per Share for gross proceeds of $210,000. Of these
Shares, 500,000 were placed with frontierAlt. Mak Allen & Day Capital Partners
Inc. received a cash finder's fee of $16,000 with respect to this placement as
well as warrants to acquire 40,000 common shares at a price of $0.40 per share
in the first year and $0.90 in the second year expiring on December 31, 2009.
The balance of the Shares were placed with an insider of the Corporation.
All of the securities referred to herein will bear a legend and be restricted
from trading until at least April 29, 2008.
Funds will be used for the 2008 drilling and exploration program on Romios'
Canadian exploration properties, primarily the British Columbia properties.
"We are very pleased with the new investment by the MineralFields Group", and
very happy about the interest shown from Trinity Woods Mining and Frontier Alt
said Tom Drivas, President and CEO of Romios. "This is an important milestone in
the growth of the Corporation and we look forward to working with MineralFields
Group as we develop our holdings in British Columbia and Ontario." This is the
second financing that MineralFields Group has completed with the Corporation in
as many years.
About MineralFields, Pathway and First Canadian Securities(R)
MineralFields Group (a division of Pathway Asset Management) is a Toronto based
mining fund with significant assets under administration that offers its
tax-advantaged super flow-through limited partnerships to investors throughout
Canada during most of the calendar year, as well as hard-dollar resource limited
partnerships to investors throughout the world. Pathway Asset Management also
specializes in the manufacturing and distribution of structured products and
mutual funds. Information about MineralFields Group is available at
www.mineraflields.com. First Canadian Securities(R) is active in leading
resource financings (both flow-through and hard dollar PIPE financings) on
competitive, effective and service friendly terms, with investors both within,
and outside of, MineralFields Group.
About the frontierAlt Group of Companies
Based in Toronto, frontierAlt Capital Corp is a diversified investment firm that
offers specialized financial solutions. frontierAlt's subsidiaries include:
frontierAlt Funds Management - offers structured products, flow-through limited
partnerships, and traditional mutual funds. Also offered is the Oasis(TM) brand
of socially responsible investment solutions.
MAK Allen & Day Capital Partners - offers corporate finance, investment banking,
and portfolio management services.
KeiData - provides back-office solutions to the investment funds industry using
in-house technology.
For more information please visit www.frontieralt.com, www.makpartners.com, and
www.keidata.com or call (866) 745-5545.
About Romios Gold Resources Inc.
Romios Gold Resources Inc is a Canadian exploration company which focuses on the
acquisition and exploration of precious and base metal prospects in the vicinity
of major mining camps throughout North America. Currently, Romios is involved in
several major exploration projects in British Columbia, Ontario and Nevada.
Romios has been a public company since 1995 and in addition to trading on the
Toronto Venture Exchange, it trades on the Over-The-Counter market in the United
States (Exemption No. 82-5093, symbol: RMIOF) and on the Frankfurt Stock
Exchange in Germany (symbol: D4R).
Cautionary Note Regarding Forward-Looking Statements: This Press Release
contains forward-looking statements that involve risks and uncertainties, which
may cause actual results to differ materially from the statements made. When
used in this document, the words "may", "would", "could", "will", "intend",
"plan", "anticipate", "believe", "estimate", "expect" and similar expressions
are intended to identify forward-looking statements. Such statements reflect our
current views with respect to future events and are subject to such risks and
uncertainties. Many factors could cause our actual results to differ materially
from the statements made, including those factors discussed in filings made by
us with the Canadian securities regulatory authorities. Should one or more of
these risks and uncertainties, such actual results of current exploration
programs, the general risks associated with the mining industry, the price of
gold and other metals, currency and interest rate fluctuations, increased
competition and general economic and market factors, occur or should assumptions
underlying the forward looking statements prove incorrect, actual results may
vary materially from those described herein as intended, planned, anticipated,
or expected. We do not intend and do not assume any obligation to update these
forward-looking statements. Shareholders are cautioned not to put undue reliance
on such forward-looking statements.
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