Romios Gold Resources Inc. announced a non-brokered private placement of up to 5,000,000 flow-through units at a price of CAD 0.04 per unit for gross proceeds of up to CAD 200,000 on December 23, 2022. Each flow-through units consists of one common share and one share purchase warrant at a price of CAD 0.08 per warrant share until the date which is twenty-four months following the closing of the transaction. The company may eligible finder up to 6% of the value of proceeds on the sale of the flow-through units in cash and up to 6% of the number of flow-through units sold in the form of compensation warrants.

Each compensation warrant issued in relation to the sale of flow-through units entitles the holder to acquire one common share of the company at a price of CAD 0.08 for twenty-four months from the closing of the transaction. The transaction may include participation from insiders of the company for up to CAD 50,000. All securities issued under the transaction are subject to a statutory four month hold period.

The transaction is scheduled to close before the end of December and is subject to certain conditions including, but not limited to, TSX Venture Exchange approval.