Roscan Gold Announces the Closing of the Previously Announced Note Financing of C$1.5 Million

Core Viewpoint - Roscan Gold Corporation has successfully completed a non-brokered private placement, raising CAD$1,505,000 through the issuance of secured subordinate promissory notes, which will be utilized for general corporate and working capital purposes [1]. Group 1: Offering Details - The promissory notes bear an interest rate of 12% per annum and will mature on January 29, 2027, with a conversion price of CAD$0.15 per common share [2]. - The notes are secured by a general security agreement over all present and after-acquired property of the company, ranking subordinate to other secured debts [3]. Group 2: Related Party Transaction - The offering included a related party transaction, where an insider subscribed for CAD$700,000 of the notes. The company is relying on exemptions from certain requirements under MI 61-101 due to the insider's participation not exceeding 25% of the company's market capitalization [4]. Group 3: Company Overview - Roscan Gold Corporation is a Canadian gold exploration company focused on acquiring and exploring gold properties in West Africa, holding a significant land position in an area with existing gold mines and major deposits [5].