VANCOUVER, British Columbia, March 08, 2022 (GLOBE NEWSWIRE) -- Rome Resources Ltd. (the “Company”) – Further to the Company's news release dated December 29, 2021, the Company is pleased to announce that the $650,000 private placement of common shares (the "Private Placement") has been fully subscribed, and all funds have been received.
The securities of the Company are subject to a cease trade order (the "Cease Trade Order" or “CTO”) issued on April 1, 2016 by the British Columbia Securities Commission (the "BCSC"), the Company's principal securities regulator in Canada.
The Private Placement shares will be issued pursuant to a partial revocation of the CTO issued by the BCSC on December 21, 2021, as announced by the Company in its press release of December 29, 2021. The proceeds of the Private Placement will used to: (i) complete and file the required outstanding continuous disclosure documents (the "Unfiled Documents"); (ii) pay accounts payable and outstanding debt; (iii) make application for a full revocation of the Cease Trade Order; (iv) prepare and file documents to obtain re-listing and re-instatement of trading on the NEX and payment of related fees; (v) make preliminary evaluation of potential project acquisitions; and (vi) provide general working capital. Once the Unfiled Documents have been completed, the Company will apply for a full revocation of the Cease Trade Order.
All the Company's securities, including the common shares that will be issued in connection with the Private Placement 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) 687-6140
Email: romeresourcesltd@gmail.com
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