Romios Announces Proposed Flow-Through Offering of Up to $5,250,000 and Working Capital Offering of Up to $500,000
December 21 2007 - 3:40PM
Marketwired
TORONTO, ONTARIO (PINK SHEETS: RMIOF) (FRANKFURT: D4R) wishes to
announce that it is offering up to 10,500,000 common shares on a
flow-through basis (the "FT Shares") priced at $0.50 per FT Share
for gross proceeds of up to $5,250,000 (the "FT Offering"). The
Corporation may pay a finder's fee and/or commission of up to 8% in
cash and warrants to acquire that number of common shares equal to
8% of the number of FT Shares subscribed for with each warrant
exercisable at a price of $0.50 per common share for a period of
one year from closing.
In addition, Romios is offering up to 1,250,000 common shares
(the "Shares") priced at $0.40 per Share for gross proceeds of up
to $500,000 (the "WC Offering"). The Corporation may pay a finder's
fee and/or commission of up to 8% in cash and warrants to acquire
that number of common shares equal to 8% of the number of Shares
subscribed for with each warrant exercisable at a price of $0.40
per common share for a period of one year from closing.
Insiders may subscribe for up to $250,000 of the FT Offering
representing 500,000 FT Shares and for $10,000 of the WC Offering
representing 25,000 Shares.. The insider private placements are
exempt from the valuation and minority shareholder approval
requirements of OSC Rule 61-501 (the "Rule") by virtue of the
exemptions contain in section 5.5 2 and 5.7(1)2 of the Rule in that
the fair market value of the consideration for the securities of
the Corporation to be issued to insiders does not exceed 25% of its
market capitalization.
The proceeds from the FT Offering will be used for exploration
on the Corporation's properties in Canada and the net proceeds from
the WC Offering will be used for working capital.
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.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Contacts: Romios Gold Resources Inc. Tom Drivas President and
Director (416) 221-4124 (416) 218-9772 (FAX) Email:
romios@romios.com Romios Gold Resources Inc. Thomas Skimming Vice
President of Exploration and Director (416) 444-0900 (416) 444-0586
(FAX) Email: tmsk8ing@hotmail.com
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