Romarco announces closing of C$32 million non-brokered private placement

THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES                                  

TORONTO, Dec. 18, 2014 /CNW/ - ROMARCO MINERALS INC. (TSX: R) ("Romarco" or the "Company") is pleased to announce that it has closed its previously announced non-brokered private placement financing (the "Private Placement") of 64,770,700 common shares of the Company (the "Offered Shares") at a price of C$0.50 per Offered Share for aggregate gross proceeds of C$32,385,350.

The Offered Shares will be subject to a four month statutory hold period. The Company intends to use the proceeds from the Private Placement for working capital and general corporate purposes.

About Romarco Minerals Inc.

Romarco Minerals Inc. is a gold development company focused on production primarily in the US. The Company has completed a positive Feasibility Study and has received all major permits for its flagship project, the Haile Gold Mine in South Carolina.

Please note:
This entire press release may be accessed via fax, e-mail, Romarco's website at www.romarco.com and through CNW Group's website at www.newswire.ca. All material information on Romarco Minerals Inc. can be found at www.sedar.com.

 

SOURCE: ROMARCO MINERALS INC.

Romarco Minerals Inc.,Dan Symons, Vice President, Investor Relations, Phone: [phone], E-mail: [email protected]