VANCOUVER, British Columbia, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Rome Resources Ltd. (the “Company”) announces that British Columbia Securities Commission (the "BCSC") has issued an order dated January 7, 2022 (the "Partial Revocation Order") partially revoking the cease trade order (the "Cease Trade Order"), which was issued against the Company by the BCSC on April 1, 2016 due to the Company's failure to file annual audited financial statements for the year ended September 30, 2015, interim financial report for the financial period ended December 31, 2015 and a Form 51-102F1 Management's Discussion and Analysis for the periods ended September 30, 2015, and December 31, 2015.
The Partial Revocation Order will allow the Company to complete a shares for debt transaction, whereby the Company will settle debt in the amount of CAD $428,364 to be settled at CAD $0.05 per common share (the "Shares for Debt Transaction").
All securities issued in connection with the Shares for Debt Transaction will be subject to a statutory four month hold period.
All the Company's securities, including the common shares that will be issued in connection with the Shares for Debt Transaction, will remain subject to the Cease Trade Order until such order is fully revoked. The issuance of a full revocation of the Cease Trade Order is not certain.
For further information, please contact:
Dr. Georg Schnura
President, CEO and Director
Telephone: (604) 687-4160
Email: romeresourcesltd@gmail.com
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