Roscan Gold closes $7.5-million private placement

May 28, 2020

2020-05-27 12:48 ET – News Release

Mr. Nana Sangmuah reports

ROSCAN GOLD CORPORATION CLOSES C$7,500,000 FINANCING

Roscan Gold Corp. has closed its previously announced marketed private placement financing, for aggregate gross proceeds of $7.5-million at a price of 32 cents per common share. Pursuant to the offering, the company issued 23,437,500 common shares in the capital of the company.

The offering was led by Clarus Securities Inc. and Canaccord Genuity Corp., and included Stifel Nicolaus Canada Inc., Eight Capital, Sprott Capital Partners LP, Paradigm Capital Inc., Echelon Wealth Partners Inc. and M Partners Inc.

As consideration for the services provided by the agents in connection with the offering, the company paid a cash commission of $450,000, equal to 6 per cent of the gross proceeds and issued a total of 1,406,250 non-transferrable broker warrants, representing 6 per cent of the total number of common shares issued pursuant to the offering. Each broker warrant entitles the holder thereof to purchase one common share at an exercise price of 48 cents per common share for a period of 12 months.

All securities issued under the offering are subject to a restricted period of four months from the date of issuance. The offering is subject to the final approval of the TSX Venture Exchange. The company will use the net proceeds of the offering for exploration and development of the company’s mineral property and for general corporate and working capital purposes.

About Roscan Gold Corp.

Roscan Gold is a Canadian gold exploration company focused on the acquisition and exploration of gold properties in West Africa.

We seek Safe Harbor.

http://www.roscan.ca/