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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
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.
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