Rome Resources Announces Issuance of Full Revocation Order

VANCOUVER, British Columbia, May 16, 2022 (GLOBE NEWSWIRE) -- Rome Resources Ltd. (the "Company") is pleased to announce that as of April 25, 2022, the Company has filed all of the required outstanding disclosure documents which include: (i) annual audited financial statements for the financial years ended September 30, 2020 and 2021; (ii) Form 51-102F1 Management's Discussion and Analysis for the financial years ended September 30, 2020 and 2021; (iii) Form 52-109FV1 Certification of Annual filings for the financial years ended September 30, 2020 and 2021; (iv) interim financial statements for the financial period ended December 31, 2021; (v) interim Management's Discussion and Analysis for the financial period ended December 31, 2021; (vi) Form 52-109FV2 Certification of Interim Filings for the financial period ended December 31, 2021; (vii) interim financial statements for the financial period ended March 31, 2022; (viii) interim Management's Discussion and Analysis for the financial period ended March 31, 2022; and (ix) Form 52-109FV2 Certification of Interim Filings for the financial period ended March 31, 2022.

On May 13, 2022, the Company received a revocation order (the "Revocation Order") from the British Columbia Securities Commission, informing the Company that all required records had been filed and the Cease Trade Order issued on April 1, 2016 had been revoked.

As announced in the Company's news release dated December 29, 2021, the BCSC issued a partial revocation order dated December 21, 2021, permitting the Company to undertake a non-brokered private placement offering of 13,000,000 common shares, to be issued at CAD $0.05 per common share for gross proceeds of $650,000 (the "Private Placement").

As announced in the Company's news release dated January 12, 2022, the BCSC issued a partial revocation order dated January 7, 2022, permitting the Company to complete a shares for debt transaction, whereby the Company will settle debt in the amount of CAD $428,364 to be settled at CAD $0.05 per common share (the "Shares for Debt Transaction").

The Private Placement and the Shares for Debt Transaction have now closed and the shares have been issued.

During the 2017 ? 2021 fiscal years, the Company has been mostly dormant. As a dormant company, it does not hold any subsidiaries or any mineral exploration properties. The Company is evaluating several acquisition opportunities, the closing of which is subject to the full revocation of the Cease Trade Order and to financing.

On the issuance of the Revocation Order, the Company is now able to advance negotiations for such potential acquisitions which, if successfully concluded, will enable the Company to graduate from NEX to Tier 2 of the TSX Venture Exchange.

For further information, please contact:

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

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