- Press Releases
|TORONTO, ONTARIO - July 26, 2006 - Romios Gold Resources Inc. ("Romios" or "the Corporation) (TSX VENTURE:RG) is pleased to announce that it has closed a non-brokered private placement consisting of 692,339 working capital units priced at $0.30 per unit for gross proceeds of $207,702. Each working capital unit consisted of one (1) common share and one (1) share purchase warrant with each warrant (a "Warrant") entitling the holder to acquire an additional common share at a price of $0.50 per 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 $0.75 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. A finder's fee of US$12,250 will be paid with respect to this financing to an arm's length party. The transaction remains subject to approval from the TSX Venture Exchange.|
The proceeds of the private placement will be used to fund further exploration on the Corporation's properties in the Galore Creek area in north-western British Columbia, its Scossa Project in north central Nevada and for working capital purposes.
The securities issued on this transaction will be legended and restricted from trading until November 27, 2006.
After giving effect to this transaction, the outstanding capital of the Corporation will be 34,359,181 common shares.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Romios Gold Resources Inc.
President and a Director
(416) 218-9772 (FAX)
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