By Devika Patel
Knoxville, Tenn., Jan. 7 - Romios Gold Resources Inc. said it completed two private placements of shares, raising C$5.39 million. The deals priced for C$5.75 million on Dec. 21.
The company sold 10,361,800 flow-through common shares at C$0.50 each for C$5.18 million. Six million of the shares were placed with the MineralFields Group for C$3 million. Insiders bought 544,000 of the shares. The company originally planned to sell up to 10.5 million flow-through shares at that price for C$5.25 million.
Limited Market Dealer Inc. received 480,000 common shares as a finder's fee and 480,000 two-year warrants exercisable at C$0.50 in the first year and C$0.90 in the second year for the placement with the MineralFields Group. Trinity Wood Mining and frontierAlt were paid 3,817,800 flow-through shares and Mak Allen & Day Capital Partners Inc. received C$152,712 as well as warrants to buy 305,424 common shares on the same terms as the warrants issued to Limited Market Dealer.
The company also sold 525,000 common shares at C$0.40 each for C$210,000. Of these shares, 500,000 were placed with frontierAlt for C$200,000. The remainder of the shares was bought by an insider. At pricing, the company intended to sell up to 1.25 million common shares for C$500,000.
Mak Allen & Day Capital Partners received a C$16,000 cash finder's fee for this placement as well as two-year warrants to buy 40,000 common shares at C$0.40 per share in the first year and C$0.90 in the second year.
Proceeds will be used for exploration and working capital.
Romios is a precious metal exploration company based in Toronto.
| Issuer: | Romios Gold Resources Inc.
|
| Issue: | Flow-through common shares, common shares
|
| Amount: | C$5.39 million
|
| Warrants: | No
|
| Fees: | 8%
|
| Pricing date: | Dec. 21
|
| Settlement date: | Jan. 7
|
| Stock symbol: | TSX Venture: RG
|
| Stock price: | C$0.385 at close Dec. 21
|
|
|
| Flow-through shares
|
| Amount: | C$5,180,900
|
| Shares: | 10,361,800
|
| Price: | C$0.50
|
| Investor: | MineralFields Group (for C$3 million)
|
| Fees: | 480,000 common shares, 480,000 warrants (Limited Market Dealer Inc.); 3,817,800 flow-through shares (Trinity Wood Mining and frontierAlt); C$152,712, warrants to buy 305,424 common shares (Mak Allen & Day Capital Partners Inc.)
|
|
|
| Common shares
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| Amount: | C$210,000
|
| Shares: | 525,000
|
| Price: | C$0.40
|
| Investor: | frontierAlt (for C$200,000)
|
| Fees: | C$16,000, warrants to buy 40,000 common shares (Mak Allen & Day Capital Partners Inc.)
|
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