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Romios Gold Resources Inc. Announces Termination of Letter of Intent With Star Gold Resources Corp.
Toronto, Ontario--(Newsfile Corp. - May 5, 2025) - Romios Gold Resources Inc. (TSXV: RG) (OTC Pi...
About this update from Oreterra Metals Corp.
[{"type":"text","content":"Romios Gold Resources Inc. Announces Termination of Letter of Intent With Star Gold Resources Corp.Toronto, Ontario--(Newsfile Corp. - May 5, 2025) - Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) (\"Romios Gold\") today announced that the parties have mutually agreed to terminate the previously announced non-binding Letter of Intent (\"LOI\") dated February 28, 2025, regarding the proposed acquisition by Star Gold of all the issued and outstanding shares of Romios' wholly owned affiliate, Romios Gold Nevada Inc.The contemplated transaction, which included the transfer of ownership and interests in the Scossa Mine Property and the Kinkaid Property, was subject to various conditions including satisfactory due diligence, regulatory approvals, and the successful completion of a capital raise. Following a thorough review and ongoing discussions, both companies have determined that it is in their respective best interests not to proceed with the proposed Share Purchase Agreement.\"We remain extremely confident in the quality and potential of the Scossa and Kinkaid properties\", stated Stephen Burega, President and CEO of Romios Gold. \"While we were not able to complete the proposed transaction under the originally proposed terms, Romios will continue to seek strategic alternatives to unlock value from our Nevada-based assets, while also advancing our broader portfolio of projects in British Columbia's Golden Triangle, as well as our large land package in Northern Ontario.\"Both parties have expressed appreciation for the collaborative efforts during the negotiation period and wish each other continued success in future endeavors.About Romios Gold Resources Inc.:Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a 100% interest in the Lundmark-Akow Lake Au-Cu property plus 4 additional claim blocks in northwestern Ontario and extensive claim holdings covering several significant porphyry copper-gold prospects in the \"Golden Triangle\" of British Columbia. Additional interests include the Kinkaid claims in Nevada covering numerous Au-Ag-Cu workings, and two former producers: the Scossa mine property (Nevada) which is a former high-grade gold producer and the La Corne molybdenum mine p...