Romarco Minerals to price C$5 million private placement of units

By Devika Patel

Knoxville, Tenn., Jan. 29 - Romarco Minerals Inc. said it will price a C$5 million private placement of units.

The company intends to sell units of one common share and one half-share warrant. Each whole warrant will be exercisable for two years.

MGI Securities Inc., the agent, will be paid a 7% cash commission and broker warrants to purchase a number of common shares equal to 7% of the number of the units sold. Each broker warrant will be exercisable at the unit price for two years.

Settlement is expected on Feb. 21.

Proceeds will be used to fund a feasibility study for the company's Haile Gold Mine, for exploration and general working capital purposes.

Vancouver, B.C.-based Romarco is a mineral exploration company.

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