Romios Announces Closing of a Flow-Through Private Placementadmin
Romios Gold Resources Inc. announced that it placed 2,000,000 units on a flow-through basis (the “FT Units”) priced at $0.15 per FT Unit for gross proceeds of $300,000. Each FT Unit consists of one (1) flow-through common share (the “FT Share”) and one-half (1/2) of a share purchase warrant (a “FT Warrant”). Each full FT Warrant entitles the holder to acquire a further common share of the Company at a price of $0.25 per common share until the earlier of: (i) the date which is twelve (12) months following the closing; and (ii) in the event that the closing price of the common shares on the TSX Venture Exchange is at least $0.50 for ten (10) consecutive trading days, and the 10th 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”).
All of the securities referred to herein are legended and restricted from trading until at least December 27, 2010.
The funds will be used for exploration on the Company’s properties.