Romarco Minerals Inc. Announces C$300 Million Bought Deal Financing

TORONTO, ONTARIO--(Marketwired - Jan. 21, 2015) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Romarco Minerals Inc. ("Issuer" or "Company") (TSX:R) has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets and Cormark Securities Inc., under which the underwriters have agreed to buy on a bought deal basis 517,300,000 common shares (the "Common Shares"), at a price of $0.58 per Common Share for gross proceeds of $300,034,000 (the "Offering"). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The Offering is expected to close on or about February 11, 2015 and is subject to the Company receiving all necessary regulatory approvals.

The net proceeds of the offering, together with the project financing facility, will be used to fully fund the Haile Gold Mine in South Carolina, for working capital and general corporate purposes.

The Common Shares will be offered by way of a short form prospectus in all of the provinces and territories of Canada and may also be offered by way of private placement in the United States.

The securities offered have not been registered under the U.S. 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. 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 jurisdiction in which such offer, solicitation or sale would be unlawful.

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 has received all major permits for its flagship project, the Haile Gold Mine in South Carolina.

Forward Looking Statements:

This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, future plans and objectives of Romarco use of proceeds and the ability to "fully fund" the project, or the timing of the completion of the offering, constitute forward-looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, the assumption that the Company will successfully close its currently contemplated project financing and satisfy all conditions to funding thereunder as well as assumptions in connection with the continuance of Romarco and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates. There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.

Important factors that could cause actual results to differ materially from Romarco's expectations include exploration and development risks associated with the Romarco's projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates and global economic conditions. For additional information with respect to risk factors applicable to Romarco, reference should be made to Romarco's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, Romarco's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.