Roscan Gold to Receive $2.60 Million from Early Warrant Exercise
Toronto, April 24, 2020 - RosCan Gold Corp. (TSXV: ROS)(FSE: 2OJ)("Roscan" or the "Company") is pleased to announce its shareholders have confirmed exercise of 21,700,068 warrants at a price of $0.12 per share, with an expiry date of July 26, 2020 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 Corp. 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.
For further information, please contact:
Andrew J. Ramcharan
Executive Vice President - Corporate Development and Investor Relations
Tel: (416) 572-2295
Email: aramcharan@Roscan.ca
Greg Isenor
Executive Vice-Chairman
Tel: (902) 832-5555
Email: gpisenor@Roscan.ca
Forward-Looking Statements
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and other risks involved in the mineral exploration and development industry, including those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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