Romios to apply for extension of 11.67 million warrants
2022-10-20 13:21 ET – News Release
Mr. Stephen Burega reports
ROMIOS GOLD APPLIES TO EXTEND NOVEMBER AND DECEMBER 2021 WARRANTS
Romios Gold Resources Inc. will make an application to the TSX Venture Exchange to extend the expiry dates of certain warrants as set out in more detail below.
The company will make an application to the TSX-V to extend 7.51 million warrants, exercisable at eight cents until Nov. 4, 2022, issued pursuant to the private placement financing which closed on Nov. 4, 2021, for a period of one year, from the original expiry date to expire Nov. 4, 2023. There has been no change in the exercise price.
The company will also make an application to the TSX-V to extend 4,166,667 warrants, exercisable at 10 cents until Dec. 15, 2022, issued pursuant to the private placement financing which closed on Dec. 15, 2021, for a period of one year, from the original expiry date to expire Dec. 15, 2023. There has been no change in the exercise price.
The amendment to the expiry dates of the November warrants and December warrants is subject to TSX-V acceptance.
Six insiders of the company were issued an aggregate of 1.85 million November warrants. The extension of the expiry date of the November warrants for the insiders is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 by virtue of the exemptions contained in sections 5.5(a) and 5.7(1) (a) of MI 61-101 in that the fair market value of the insiders’ November warrants does not exceed 25 per cent of its market capitalization.
About Romios Gold Resources Inc.
Romios Gold Resources 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-per-cent interest in the Lundmark-Akow Lake gold-copper property plus four additional claim blocks in Northwestern Ontario and extensive claimholdings 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 property (Quebec). The company retains a continuing interest in several properties, including a 20-per-cent carried interest in five of Honey Badger Mining’s claim blocks in the Thunder Bay silver district of Northwestern Ontario; a 2-per-cent net smelter return on McEwen Mining’s Hislop gold property in Ontario; a 2-per-cent NSR on Enduro Metals’ Newmont Lake Au-Cu-Ag property in B.C.; and the company has signed a definitive agreement with Copperhead Resources Inc. whereby Copperhead can acquire a 75-per-cent ownership interest in Romios’s Red Line property in B.C.
We seek Safe Harbor.
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