Rome Resources Announces Issuance of Full Revocation Order

VANCOUVER, British Columbia, May 16, 2022 (GLOBE NEWSWIRE) — Rome Resources Ltd. (there “Company”) is pleased to announce that as of April 25, 2022, the Company has filed all required outstanding disclosure materials, including: (i) audited annual financial statements for the years ended September 30, 2020 and 2021; (ii) Form 51-102A1 Management discussion and analysis for the fiscal years ended September 30, 2020 and 2021; (iii) Form 52-109FV1 Certification of annual filings for the fiscal years ended September 30, 2020 and 2021; (iv) the interim financial statements for the year ended December 31, 2021; (v) the interim management report for the financial period ended December 31, 2021; (vi) Form 52-109FV2 Certification of provisional deposits for the year ended December 31, 2021; (vii) the interim financial statements for the financial period ended March 31, 2022; (viii) the interim management report for the financial period ended March 31, 2022; and (ix) Form 52-109FV2 Certification of provisional deposits for the year ended March 31, 2022.

On May 13, 2022, the Company received a revocation order (the “Revocation order“) from the British Columbia Securities Commission, advising the Company that all required documents have been filed and that the cease trade order issued on April 1, 2016 has been revoked.

As announced in the Company’s press release dated December 29, 2021, the BCSC issued a partial revocation order dated December 21, 2021, allowing the Company to undertake a non-brokered private placement of 13,000,000 shares shares, to be issued at C$0.05 per common share for gross proceeds of $650,000 (the “Private placement“).

As announced in the Company’s press release dated January 12, 2022, the BCSC issued a partial revocation order dated January 7, 2022, permitting the Company to enter into a stock-for-debt transaction, whereby the Company will settle a debt in the amount of CA$428,364 to be settled at CA$0.05 per common share (the “Actions for Debt Transaction“).

The Private Placement and Debt Equity Transaction has now closed and the shares have been issued.

During fiscal years 2017 to 2021, the Company was essentially inactive. As a dormant company, it does not own any subsidiary or mineral exploration properties. The Company is evaluating several acquisition opportunities, the closing of which is subject to the complete revocation of the cease trade order and financing.

Following the issuance of the Revocation Order, the Company is now in a position to advance negotiations for such potential acquisitions which, if successfully completed, will enable the Company to transition from NEX to Tier 2 of the TSX Venture Exchange.

For more information, please contact:

Dr Georg Schnura
President, CEO and Director
Phone: (604) 687-4160
Email: [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS ITS TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE RELEVANCE OR ACCURACY OF THIS RELEASE.

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