/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
TRADING SYMBOL: TSX: R
TORONTO, April 29 /CNW Telbec/ - Romarco Minerals Inc. (TSX-V: R) ("Romarco" or the "Company") is pleased to announce that in connection with its short form prospectus offering of 61,000,000 common shares at $1.97 per share (the "Offering") which closed on April 13, 2010, the underwriters have notified the Company that they are exercising the over-allotment option (the "Over-allotment Option") in full to purchase an additional 9,150,000 common shares at $1.97 per share to raise additional aggregate gross proceeds of $18,025,500. Closing of the Over-allotment Option is expected to occur on May 3, 2010.
BMO Capital Markets and Paradigm Capital Inc. acted as co-lead underwriters for the Offering along with a syndicate including GMP Securities L.P. and Wellington West Capital Markets Inc.
Romarco intends to use the net proceeds from the Offering and the exercise of the Over-allotment Option to fund the continued development of the Haile Gold Mine, the potential acquisition of lands adjacent to and in the region of the Haile Gold Mine, regional exploration, deposits on long lead time equipment purchases for operations at the Haile Gold Mine, working capital and for general corporate purposes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
About Romarco Minerals Inc.
Romarco Minerals Inc. is a gold development company focused on production in the US and Mexico. The Company's flagship project is the Haile Gold Mine in South Carolina which is currently in the process of a feasibility study and continued exploration drilling.
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.
"Neither the TSX Venture nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release"
SOURCE Romarco Minerals Inc.
For further information: For further information: Romarco Minerals Inc.: Diane Garrett, President and CEO, (210) 621-4200, firstname.lastname@example.org; Victoria Vargas, V.P., Investor Relations, (416) 367-5500, email@example.com; Renmark Financial Communications Inc.: Dan Symons, (514) 939-3989, firstname.lastname@example.org