Roscan to receive $2.6-million from warrant exercises

Apr 24, 2020

2020-04-24 10:39 ET – News Release

Mr. Nana Sangmuah reports

ROSCAN GOLD TO RECEIVE $2.60 MILLION FROM EARLY WARRANT EXERCISE

Roscan Gold Corp.’s shareholders have confirmed the exercise of 21,700,068 warrants with an expiry date of July 26, 2020, at a price of 12 cents per share, which will add net proceeds of $2,604,008 to the company’s balance sheet.

These warrants were issued as part of the Company’s July 26, 2018 private placement financing. The Company has a remaining 11,952,657 of these warrants outstanding with an exercise price of $0.12 per share and with an expiry date of July 26, 2020.

The use of proceeds will be utilized by the Company’s exploration program on its highly prospective project in West Mali.

Nana Sangmuah, President and CEO, stated, “We are very pleased to have the ongoing support from our shareholders who exercised these warrants early; and, particularly with the majority that held on to their shares post exercise to increase their relative ownership position in the Company. We are excited about the progress made to date as we follow up on a number of recent developments. We look forward to providing additional updates and reporting results from our exploration activities in the coming weeks and months.”

About Roscan

Roscan Gold Corporation is a Canadian gold exploration company focused on the exploration and acquisition of gold properties in West Africa. The Company has assembled a significant land position of 100%-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/