TORONTO, ONTARIO, September 22, 2016, Romios Gold Resources Inc. (TSX-V:RG) ("Romios" or the "Company") is pleased to announce that the Company has closed a non-brokered private placement (the "Offering") with the sale of 2,000,000 working capital units ("WC Units") at $0.06 per WC Unit for proceeds of $120,000.
Each WC Unit was priced at $0.06 and consisted 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 at a price of $0.12 per WC Warrant Share until the earlier of: (i) September 21, 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 September 21, 2016, the date which is thirty (30) days from the Final Trading Day.
The securities issued are subject to a hold period expiring on January 22, 2017.
The funds raised, in addition to the $454,675 raised in June and July are being used for the drilling program currently in progress at the Lundmark-Akow Lake property in northwestern Ontario, as well as for working capital purposes.
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@example.com.
Frank van de Water, Chief Financial Officer and Director, (tel) (416) 221-4124 or (email) firstname.lastname@example.org.