March 03, 2009
On March 3, 2009, Romarco Minerals Inc. completed an underwritten private placement of 72,100,000 units, at a price of $0.38 per unit, for aggregate gross proceeds of $27,398,000. Each unit consisted of one common share and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional common share at an exercise price of $0.60 until March 3, 2011. The units were sold through a syndicate of underwriters led by Macquarie Capital Markets Canada Ltd. and including Paradigm Capital Inc. and GMP Securities L.P. The net proceeds from the private placement will be used, together with Romarco’s existing cash resources, to fund continued development of the Haile Gold Mine located in South Carolina and for general corporate purposes.
Wildeboer Dellelce LLP acted for the underwriters in connection with the offering with a team that included Perry Dellelce, James Brown, Peter Simeon, Geoff Cher and Nicholas Dobbek.