Roscan Gold Announces Closing of Convertible Note Financing

Core Viewpoint - Roscan Gold Corporation has successfully completed a non-brokered private placement, raising CAD$1,500,000 through the issuance of secured subordinate promissory notes, which will be utilized for general corporate and working capital purposes [1]. Group 1: Financial Details - The promissory notes bear an interest rate of 12% per annum and will mature on March 2, 2027 [2]. - The notes are convertible into common shares at a conversion price of CAD$0.20 per share [2]. - Note holders will receive accrued and unpaid interest in cash until the earlier of the conversion date or the maturity date [2]. Group 2: Security and Fees - 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]. - AfroBullion Mine Limited received a finder's fee of 5% of the gross proceeds from the offering [3]. Group 3: Regulatory and Compliance - All securities issued in connection with the offering are subject to a hold period of four months plus a day from the issuance date, in accordance with applicable securities legislation [4]. Group 4: Company Overview - Roscan Gold Corporation is a Canadian gold exploration company focused on acquiring and exploring gold properties in West Africa, with a significant land position in an area with existing gold mines and major deposits [5].