- Roscan Gold (ROS) will undertake a $2 million non-brokered private placement
- The proceeds will fund exploration and development of the Kandiolé Project in Mali, West Africa, as well as working capital and general corporate purposes
- The company’s largest shareholder, Michael Gentile, participated in the financing
- Roscan Gold is a Canadian company focused on the exploration and acquisition of gold properties in West Africa
- Roscan Gold (ROS) is unchanged trading at $0.165 per share
Roscan Gold (ROS) will undertake a $2 million non-brokered private placement.
The company will issue up to 10,000,000 common shares priced at $0.20.
It will allocate the funds to exploration and development of the Kandiolé Project in Mali, West Africa, as well as to working capital and general corporate purposes.
“The private placement allows us to further advance our work programs towards further resource growth, as well as de-risking efforts towards obtaining the final mining permit, a key element that triggers the remaining $5.0 million investment from Osisko Gold Royalties,” stated Nana Sangmuah, Roscan’s President and CEO.
“I am also pleased with the continued support of our director and largest shareholder, Michael Gentile, in this private placement, while welcoming new strategic partners and shareholders,” he added.
Pending regulatory approval, all securities issued will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.
Roscan Gold is a Canadian company focused on the exploration and acquisition of gold properties in West Africa.
Roscan Gold (ROS) is unchanged trading at $0.165 per share as of 9:57 am EST.
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