Vancouver, British Columbia--(Newsfile Corp. - December 20, 2023) - Rome Resources Ltd. (TSXV: RMR) (FSE: 33R) ("Rome" or the "Company") is pleased to announce that it has fully exercised the second option under its option agreement with Andreas Friedrich Reitmeier and Medidoc-RD Congo SARLU dated the 15th day of August 2022, as amended the 6th day of June 2023 (the "MRDC Option Agreement"). As a result, Rome has increased its earned undivided indirect interest in and to exploration permit PEPM 13274 from 21.75% to 51.475%.
Pursuant to the MRDC Option Agreement, Rome initially acquired a 21.75% undivided interest in and to exploration permit PR 13274. PR 13274 was subsequently converted to PEPM 13274. Rome has now acquired a further 29.725% indirect interest in PEPM 13274 (for a total indirect interest of 51.475%) by funding additional exploration expenditures totalling CAD$1,750,000 at exploration permit PEPM 13274 and by issuing a total of 30,000,000 RMR shares, of which 10,000,000 RMR shares were issued to Mark Gasson, the Company's president; 10,000,000 RMR shares were issued to Dr. Andreas Reitmeier and 10,000,000 RMR shares were issued to Klaus Eckhof. The 30,000,000 RMR shares are restricted from trading until April 20, 2024 and, in addition thereto, are subject to escrow provisions.
Rome now holds indirect interests of 51.475% in PEPM 13274 and 51% in PR 15130 and has an agreement in place to acquire an additional 15% interest in PR 15130.
About Rome Resources
Rome Resources Ltd. is a mineral exploration company that has entered into two option agreements and a binding term sheet to acquire direct and indirect interests in two contiguous properties situated in the Walikale District of the North Kivu Province in eastern DRC, which are collectively referred to as the "Bisie North Tin Project". Rome has completed an initial phase of drilling on the project where it is responsible to fund exploration up to the completion of a definitive feasibility study.
Contacts
Investors / Shareholders
Mark Gasson
President, CEO & Director
P: (604) 687-6140
Media
E: info@romeresources.com
Cautionary Note Regarding Forward-Looking Statements
The information in this news release may include certain information and statements about management's view of future events, expectations, plans and prospects that may constitute forward-looking statements. Forward-looking statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward-looking statements. Although Rome Resources Ltd believes that the expectations reflected in forward-looking statements are reasonable, it can give no assurances that the expectations of any forward-looking statements will prove to be correct. Except as required by law, Rome Resources Ltd disclaims any intention and assumes no obligation to update or revise any forward-looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking statements or otherwise.
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SOURCE: Rome Resources Ltd.
