Romios Gold is looking to raise gross proceeds of up to $500,000 from the placement of up to 10 million flow-through units priced at $0.05 per unit, with each unit consisting of 1 share and one-half a warrant Romios Gold is also looking to raise gross proceeds of up to $500,000 from the placement of up to 10 million non flow-through units priced at $0.05 per unit, with each unit consisting of 1 share and 1 warrant.
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Video Transcript:
I’m Cassandra Bolinski for Investmentpitch Media
Romios Gold Resources has announced a non-brokered private placement.
The company is looking to raise gross proceeds of up to $500,000 from the placement of up to 10 million flow-through units priced at $0.05 per unit, with each unit consisting of 1 share and one-half a warrant.
The company is also looking to raise gross proceeds of up to $500,000 from the placement of up to 10 million non flow-through units priced at $0.05 per unit, with each unit consisting of 1 share and 1 warrant.
With both units, the warrants are exercisable at $0.08 for 12 months.
The company will accept subscriptions up to a total of 10 million units in any combination.
The shares are currently trading at $0.05.
The company plans to use the funds for exploration and working capital.
Insiders will be subscribing to $130,000 of the flow-through units and $25,000 of the non flow-through units.
Headquartered in Toronto, Romios is engaged in precious and base metal exploration with a primary focus on gold, silver and copper in North America.
The company recently completed an initial month-long program of field work on its extensive claims in British Columbia’s Golden Triangle, where since late 2004, the company has systematically acquired an extensive 79,789-hectare land position located between Galore Creek and Eskay Creek.
The most advanced projects include Newmont Lake, which is optioned to Enduro Metals and the Trek property.
Of particular interest were a number of promising mineralized boulders located on the NorthEast claim block and a broad zone of porphyry-copper style alteration uncovered on the Trek South claims.
All assays are pending.
The company has a 100% interest in the Lundmark-Akow Lake gold-copper property located in the centre of the North Caribou Lake greenstone belt in northwestern Ontario, 18 km from Newmont’s Musselwhite gold mine.
Following a number of delays due to the industry-wide shortage of diamond drillers and the severe forest fire situation in NW Ontario that prevented any field work for several weeks, Romios’ geological team and a drill crew are on site and drilling is in process.
Additional interests include two former producers, the La Corne molybdenum mine property in Quebec and a former high-grade gold producer, the Scossa mine property in Nevada.
The company also retains a 2% NSR on the Hislop gold property and a 2% NSR and 20% carried (to pre-feasibility) interest in the Thunder Bay Silver properties in Ontario.
For more information, please visit the company’s website at www.Romios.com, contact Tom Drivas, CEO, at 416-876-3957 (mobile) or by email at romios@romios.com, or contact Stephen Burega, President, at 647-515-3737 (mobile) or by email at sburega@gmail.com.
I’m Cassandra Bolinski for Investmentpitch Media
