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Romios Announces Non-Brokered Offering and First Closing
TORONTO, ONTARIO--(Marketwired - June 9, 2016) - Romios Gold Resources Inc. (TSX VENTURE:RG)(OTC PINK:RMIOF)(FRANKFURT:D4R) ("Romios" or the "Company") is pleas
About this update from Oreterra Metals Corp.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - June 9, 2016) - Romios Gold Resources Inc. (TSX VENTURE:RG)(OTC PINK:RMIOF)(FRANKFURT:D4R) (\"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 (1/2) 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 t...