Core Viewpoint - Romios Gold Resources Inc. has increased its non-brokered private placement offering from $500,000 to $750,000 due to significant demand, with the offering consisting of up to 37,500,000 working capital units priced at $0.02 each [1][2]. Offering Details - The terms of the working capital units have been modified to include a three-year warrant exercisable at $0.05, with each unit comprising one common share and one full common share purchase warrant [2]. - All securities issued under the offering will be subject to a four-month and one-day hold period, and the transaction is pending approval from the TSX Venture Exchange [3]. Fund Allocation - Proceeds from the sale of the working capital units will be allocated for the maintenance and exploration of the Company's properties in Nevada and British Columbia, as well as for general working capital [3]. - Up to 20% of the funds raised may be paid to non-arm's length parties for services provided to the Company following the closing, subject to fund availability [3]. Insider Participation - Four insiders of the Company have subscribed for 6,000,000 working capital units for $120,000, with the potential for insiders to subscribe for an additional 1,500,000 units, totaling up to $150,000 [4]. - The insider private placements are exempt from certain valuation and minority shareholder approval requirements due to the fair market value of the consideration not exceeding 25% of the Company's market capitalization [4]. Company Overview - Romios Gold Resources Inc. is a Canadian mineral exploration company focused on precious and base metal exploration, primarily gold, copper, and silver [6]. - The Company holds a 100% interest in the Lundmark-Akow Lake Au-Cu property and has extensive claim holdings in British Columbia's "Golden Triangle," including the drill-ready Trek South prospect [6]. - Additional interests include former producers in Nevada and ongoing interests in several properties, including a 2% NSR on McEwen Mining's Hislop gold property and a definitive agreement with Copperhead Resources Inc. for a 75% ownership interest in Romios' Red Line Property [6].
Romios Announces Over-Subscription and Increase of Non-Brokered Offering to $750,000
Newsfileยท2025-07-30 11:30