Roscan Gold increases private placement to $4-million

Nov 20, 2019

2019-11-19 13:56 ET – News Release

Mr. Greg Isenor reports

ROSCAN GOLD CORPORATION ANNOUNCES UPSIZING OF PREVIOUSLY ANNOUNCED MARKETED OFFERING

Roscan Gold Corp. and a syndicate of agents led by Clarus Securities Inc., including Canaccord Genuity Corp., Cormark Securities Inc., M Partners Inc. and Eight Capital Corp., due to investor demand in connection with its previously announced marketed private placement, have agreed to increase the size of the previously announced offering to $4-million at a price of 10 cents per unit. Each unit comprises one common share in the capital of the company and one three-quarter common share purchase warrant, with each warrant entitling the holder to purchase one common share at an exercise price of 16 cents for 24 months following the completion of the offering.

The company has also agreed to grant the agents an overallotment option comprising up to an additional 10 million units at the offering price, exercisable in whole or in part at any time for a period ending 30 days from the closing of the offering. In the event the overallotment option is exercised in full, the aggregate gross proceeds of the offering will be $5-million.

The proceeds raised from the offering will be used by the company for exploration and development of the company’s mineral properties and for general corporate and working capital purposes.

The offering is scheduled to close on or about Dec. 10, 2019, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals of the TSX Venture Exchange. The securities to be issued under this offering will be offered by way of private placement exemptions in all the provinces of Canada. The units to be issued under this offering will also be offered offshore, including in the United Kingdom, pursuant to applicable exemptions, and in the United States on a private placement basis, pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.

About Roscan Gold Corp.

Roscan Gold is a Canadian gold exploration company focused on the acquisition and exploration of gold properties in West Africa. The company has assembled a significant land position of 100-per-cent-owned permits in an area of producing gold mines (including B2 Gold’s Fekola mine, which lies in a contiguous property to the west of Kandiole) and major gold deposits, located both north and south of its Kandiole project in west Mali.

We seek Safe Harbor.

http://www.roscan.ca/