Romios Closes Final Tranche of Non-Brokered Offering

Written by Newsfile

Toronto, Ontario--(Newsfile Corp. - December 18, 2020) - Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) ("Romios" or the "Company")is pleased to announce that it has closed the final tranche of its non-brokered private placement, referred to in its press release dated December 9, 2020 (the "Offering"), with the issuance of 13,838,770 flow-through units (the "FT Units") for gross proceeds of $899,520.05 and 1,500,000 working capital units ("WC Units") for gross proceeds of $82,500.00. The Company raised gross proceeds of $982,020.05 in the final tranche and total gross proceeds of $1,227,020.05 pursuant to the Offering.

Each FT Unit is priced at $0.065 and consists of one (1) common share and one (1) share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one (1) common share (a "Warrant Share") at a price of $0.10 per Warrant Share until December 17, 2021.

Each WC Unit is priced at $0.055 and consists of one (1) common share and one (1) common share purchase warrant ("WC Warrant"). Each WC Warrant entitles the holder to purchase one (1) common share (a "WC Warrant Share") at a price of $0.10 per WC Warrant Share until December 17, 2021.

Eligible Finders were paid $45,001.20 in cash and issued 692,325 broker warrants ("Broker Warrants"). Each Broker Warrant entitles the holder to acquire one (1) common share of the Company at a price of $0.065 until December 17, 2021.

Proceeds from the Offering are expected to be used for exploration and drilling of the Company's properties in British Columbia and Ontario as well as for working capital.

Three (3) insiders of the Company subscribed for 2,300,000 FT Units for $149,500 of the Offering. The insider private placements are exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 ("MI 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 consideration for the securities of the Company issued to the insiders does not exceed 25% of its market capitalization.

All securities issued are subject to a statutory hold period expiring on April 18, 2021.

About Romios Gold Resources Inc.

Romios Gold Resources Inc., a progressive Canadian mineral exploration company established in 1995, is engaged in precious and base metal exploration primarily focused on gold, silver and copper on its properties in the Golden Triangle area, northwestern British Columbia. In addition to the properties in the Golden Triangle area, Romios holds a 100% interest in the Lundmark-Akow Lake property in Ontario, the La Corne Property in Quebec and the Scossa Property in Nevada. It also holds a 2% Net Smelter Return Royalty on the Hislop property in Ontario.

This News Release contains forward-looking statements which are typically preceded by, followed by or including the words "believes", "expects", "anticipates", "estimates", "intends", "plans" or similar expressions. Forward-looking statements are not guarantees of future performance as they involve risks, uncertainties and assumptions. We do not intend and do not assume any obligation to update these forward-looking statements and shareholders are cautioned not to put undue reliance on such statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information, please contact:

Tom Drivas, President and Director, (tel) 416-221-4124, (fax) 416-218-9772 or (email) romios@romios.com ^[1].

Frank van de Water, Chief Financial Officer and Director, (tel) 416-221-4124 or (email) fvandewater@rogers.com ^[2].

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/70608 ^[3]

References

^{^} romios@romios.com (www.newsfilecorp.com)
^{^} fvandewater@rogers.com (www.newsfilecorp.com)
^{^} https://www.newsfilecorp.com/release/70608 (www.newsfilecorp.com)