Romarco announces C$25 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/

TRADING SYMBOL: TSX: R

TORONTO, Nov. 5, 2013 /CNW/ - ROMARCO MINERALS INC. (TSX: R) ("Romarco" or the "Company") is pleased to announce it has arranged a non-brokered private placement financing (the "Private Placement") of approximately 71,678,600 common shares of the Company (the "Offered Shares") at a price of C$0.35 per Offered Share for aggregate gross proceeds of C$25,087,510. The Company expects to close the Private Placement on or about November 13, 2013.  The Private Placement is being executed with some of the Company's largest shareholders including BlackRock, Colonial First State Global Asset Management, and Franklin Templeton Investments. A total of eight subscribers will purchase approximately $24.5 million of the private placement with insiders subscribing for the balance.

Diane Garrett, President and CEO commented, "We are very pleased to have a significant, longstanding and loyal shareholder base who have followed and supported our progress with the Haile Gold Mine - a high grade, low cost, world class asset located in South Carolina, USA."

Closing of the Private Placement is subject to receipt of approval of the Toronto Stock Exchange. The Offered Shares will be subject to a four month plus one day hold period. The Company intends to use the proceeds from the Private Placement to finance the advancement of Romarco's Haile Gold Mine including funding permitting activities, equipment payments, 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 is continuing exploration drilling and permitting 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.

For further information:

Romarco Minerals Inc. 
Dan Symons, Vice President, Investor Relations
Phone: 416-367-5500
E-mail: dsymons@romarco.com

Profil de l'entreprise

ROMARCO MINERALS INC.

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