Business
Romios Closes Oversubscribed Non-Brokered Offering
Toronto, Ontario--(Newsfile Corp. - November 5, 2021) - Romios Gold Resources Inc.  (TS...
About this update from Oreterra Metals Corp.
[{"type":"text","content":"Romios Closes Oversubscribed Non-Brokered OfferingToronto, Ontario--(Newsfile Corp. - November 5, 2021) - Romios Gold Resources Inc. (TSXV: RG) (OTCQB: RMIOF) (FSE: D4R) (\"Romios Gold\" or the \"Company\") is pleased to announce that it has closed its non-brokered private placement, referred to in its news release dated October 7, 2021 (the \"Offering\"), with the issuance of 5,420,000 flow-through units (the \"FT Units\") for gross proceeds of $271,000 and 4,800,000 working capital units (\"WC Units\") for gross proceeds of $240,000. The Company raised total gross proceeds of $511,000 pursuant to the Offering.Each FT Unit is priced at $0.05 and consists of one (1) common share and one half (1/2) of a common share purchase warrant. Each full warrant (a \"Warrant\") entitles the holder to purchase one (1) common share (a \"Warrant Share\") at a price of $0.08 per Warrant Share until November 4, 2022.Each WC Unit is priced at $0.05 and consists of one (1) common share and one (1) common share purchase warrant (\"WC Warrant\"). Each WC Warrant entitles the holder to purchase one (1) common share (a \"WC Warrant Share\") at a price of $0.08 per WC Warrant Share until November 4, 2022.An Eligible Finder was paid $600 in cash and issued 12,000 broker warrants (\"Broker Warrants\"). Each Broker Warrant entitles the holder to acquire one (1) common share of the Company at a price of $0.05 until November 4, 2022. Another Eligible Finder was issued 84,000 common shares and 84,000 WC Warrants in lieu of a cash finder's fee.Proceeds from the Offering are expected to be used for exploration and drilling of the Company's properties in British Columbia and Ontario as well as for working capital.Five (5) insiders of the Company subscribed for 2,700,000 FT Units for $135,000 of the Offering. And one (1) insider of the Company subscribed for 500,000 WC Units for $25,000 of the Offering. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 (\"MI 61-101\") by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the consideration for the securities of the Company issued to the insiders does not exceed 25% of its market capitalization.All securities issued are subject to a statutory hol...