VANCOUVER, British Columbia, May 26, 2022 (GLOBE NEWSWIRE) — Rome Resources Ltd. (the “Company”) is pleased to announce that it intends to complete a non-brokered private placement to raise gross proceeds of up to $840,000 (the “Offering”) through the sale of up to 5,600,000 units (each, a “Unit”) at $0.15 per Unit. Each Unit will consist of one common share (each, a “Share”) and one non-transferable common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the holder to purchase one additional Share of the Company at an exercise price of $0.25 for a period of one year from the date of issuance thereof.
One or more directors of the Company intends to participate in the private placement and their respective holdings of securities of the Company will increase as a result.
Proceeds raised from the sale of the Units will be used by the Company to complete the acquisition of two prospective tin properties in the Democratic Republic of the Congo (see the Company’s news release dated May 24, 2022), and for general corporate purposes.
The Company intends to promptly submit a reinstatement submission to the NEX, and anticipates that the planned property acquisitions and the private placement will enable the Company to graduate from the NEX. Graduation will be subject to all requisite Exchange and shareholder approvals.
The completion of the Offering is subject to the Exchange’s acceptance and all securities issued in connection with the Offering are subject to Exchange’s Hold Period as defined in the Exchange’s policy.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
For further information, please contact:
Dr. Georg Schnura
President, CEO and Director
Telephone: (604) 687-4160
Email: [email protected]
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