Romios Gold Resources Inc. Announces Termination of Letter of Intent With Star Gold Resources Corp.
Romios Gold Resources Inc. (RMIOF) has announced the mutual termination of its non-binding Letter of Intent (LOI) with Star Gold Resources Corp. The LOI, dated February 28, 2025, proposed Star Gold's acquisition of all shares of Romios Gold Nevada Inc., including ownership of the Scossa Mine Property and Kinkaid Property. The transaction was contingent on due diligence, regulatory approvals, and successful capital raising.
Following a comprehensive review, both companies decided not to proceed with the Share Purchase Agreement. Stephen Burega, President and CEO of Romios Gold, expressed continued confidence in the Nevada properties' potential and stated the company will pursue alternative strategic options while advancing its projects in British Columbia's Golden Triangle and Northern Ontario.
Romios Gold Resources Inc. (RMIOF) ha annunciato la risoluzione consensuale della sua Lettera di Intenti (LOI) non vincolante con Star Gold Resources Corp. La LOI, datata 28 febbraio 2025, prevedeva l'acquisizione da parte di Star Gold di tutte le azioni di Romios Gold Nevada Inc., inclusa la proprietà della Scossa Mine Property e della Kinkaid Property. L'operazione era soggetta a due diligence, approvazioni regolatorie e al successo nella raccolta di capitali.
Dopo un'attenta revisione, entrambe le società hanno deciso di non procedere con l'Accordo di Acquisto Azionario. Stephen Burega, Presidente e CEO di Romios Gold, ha espresso fiducia nel potenziale delle proprietà in Nevada e ha dichiarato che l'azienda esplorerà opzioni strategiche alternative, continuando a sviluppare i suoi progetti nel Golden Triangle della British Columbia e nel Nord Ontario.
Romios Gold Resources Inc. (RMIOF) ha anunciado la terminación mutua de su Carta de Intención (LOI) no vinculante con Star Gold Resources Corp. La LOI, fechada el 28 de febrero de 2025, proponía la adquisición por parte de Star Gold de todas las acciones de Romios Gold Nevada Inc., incluyendo la propiedad de Scossa Mine Property y Kinkaid Property. La transacción estaba condicionada a la debida diligencia, aprobaciones regulatorias y la exitosa obtención de capital.
Tras una revisión exhaustiva, ambas compañías decidieron no continuar con el Acuerdo de Compra de Acciones. Stephen Burega, Presidente y CEO de Romios Gold, expresó su confianza continua en el potencial de las propiedades en Nevada y declaró que la empresa buscará opciones estratégicas alternativas mientras avanza con sus proyectos en el Triángulo de Oro de Columbia Británica y el norte de Ontario.
Romios Gold Resources Inc. (RMIOF)는 Star Gold Resources Corp.과의 구속력 없는 의향서(LOI)를 상호 합의 하에 종료했다고 발표했습니다. 2025년 2월 28일자 LOI는 Star Gold가 Romios Gold Nevada Inc.의 모든 주식을 인수하는 것을 제안했으며, 여기에는 Scossa Mine Property와 Kinkaid Property의 소유권이 포함되어 있었습니다. 이 거래는 실사, 규제 승인 및 자본 조달 성공을 조건으로 했습니다.
종합적인 검토 후, 양사는 주식 매매 계약을 진행하지 않기로 결정했습니다. Romios Gold의 사장 겸 CEO인 Stephen Burega는 네바다 부동산의 잠재력에 대한 지속적인 신뢰를 표명하며 회사가 브리티시컬럼비아의 골든 트라이앵글과 북부 온타리오에서 프로젝트를 진행하는 동시에 대안적인 전략적 선택지를 모색할 것이라고 밝혔습니다.
Romios Gold Resources Inc. (RMIOF) a annoncé la résiliation mutuelle de sa lettre d'intention (LOI) non contraignante avec Star Gold Resources Corp. La LOI, datée du 28 février 2025, proposait l'acquisition par Star Gold de toutes les actions de Romios Gold Nevada Inc., incluant la propriété des terrains Scossa Mine Property et Kinkaid Property. La transaction dépendait de la due diligence, des approbations réglementaires et de la réussite du financement.
Après un examen approfondi, les deux sociétés ont décidé de ne pas poursuivre l'accord d'achat d'actions. Stephen Burega, président et CEO de Romios Gold, a exprimé sa confiance continue dans le potentiel des propriétés du Nevada et a déclaré que la société explorerait d'autres options stratégiques tout en faisant avancer ses projets dans le Golden Triangle de la Colombie-Britannique et le nord de l'Ontario.
Romios Gold Resources Inc. (RMIOF) hat die einvernehmliche Beendigung seines unverbindlichen Absichtsschreibens (LOI) mit Star Gold Resources Corp. bekannt gegeben. Das LOI vom 28. Februar 2025 sah den Erwerb aller Anteile an Romios Gold Nevada Inc. durch Star Gold vor, einschließlich des Eigentums an der Scossa Mine Property und der Kinkaid Property. Die Transaktion war abhängig von Due Diligence, behördlichen Genehmigungen und erfolgreicher Kapitalbeschaffung.
Nach einer umfassenden Prüfung haben beide Unternehmen beschlossen, den Aktienkaufvertrag nicht weiterzuverfolgen. Stephen Burega, Präsident und CEO von Romios Gold, äußerte weiterhin Vertrauen in das Potenzial der Grundstücke in Nevada und erklärte, dass das Unternehmen alternative strategische Optionen verfolgen werde, während es seine Projekte im Golden Triangle von British Columbia und Nord-Ontario vorantreibt.
- None.
- Failed acquisition deal for Romios Gold Nevada Inc. subsidiary
- Unable to complete strategic transaction for Scossa Mine and Kinkaid properties
Toronto, Ontario--(Newsfile Corp. - May 5, 2025) - Romios Gold Resources Inc. (TSXV: RG) (OTC Pink: RMIOF) (FSE: D4R) ("Romios Gold") today announced that the parties have mutually agreed to terminate the previously announced non-binding Letter of Intent ("LOI") dated February 28, 2025, regarding the proposed acquisition by Star Gold of all the issued and outstanding shares of Romios' wholly owned affiliate, Romios Gold Nevada Inc.
The contemplated transaction, which included the transfer of ownership and interests in the Scossa Mine Property and the Kinkaid Property, was subject to various conditions including satisfactory due diligence, regulatory approvals, and the successful completion of a capital raise. Following a thorough review and ongoing discussions, both companies have determined that it is in their respective best interests not to proceed with the proposed Share Purchase Agreement.
"We remain extremely confident in the quality and potential of the Scossa and Kinkaid properties", stated Stephen Burega, President and CEO of Romios Gold. "While we were not able to complete the proposed transaction under the originally proposed terms, Romios will continue to seek strategic alternatives to unlock value from our Nevada-based assets, while also advancing our broader portfolio of projects in British Columbia's Golden Triangle, as well as our large land package in Northern Ontario."
Both parties have expressed appreciation for the collaborative efforts during the negotiation period and wish each other continued success in future endeavors.
About Romios Gold Resources Inc.:
Romios Gold Resources Inc. is a progressive Canadian mineral exploration company engaged in precious- and base-metal exploration, focused primarily on gold, copper and silver. It has a
For more information, please click here for Romios' website.
Romios has 264 million common shares outstanding, 284 million shares fully diluted.
This News Release contains forward-looking statements which are typically preceded by, followed by or include 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. TSX Venture Exchange or its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) do not accept responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Stephen Burega, CEO & President - 647-515-3734 or sburega@romios.com
John Biczok, P. Geo., VP Exploration - 613-410-7877 or jbiczok@romios.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250805
FAQ
Why did Romios Gold (RMIOF) terminate the LOI with Star Gold Resources?
What properties were involved in the terminated Romios Gold-Star Gold deal?
What are Romios Gold's (RMIOF) plans after terminating the Star Gold deal?
When was the original LOI between Romios Gold and Star Gold signed?
