Roscan Gold Announces Closing of Private Placement of Convertible Debentures with Michael Gentile
Roscan Gold (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) has closed a non-brokered private placement with director Michael Gentile for a CAD$300,000 principal amount secured subordinate promissory note. The note, maturing on September 11, 2025, bears a 12% annual interest rate and is convertible into common shares at CAD$0.11 per share. The proceeds will be used for general corporate and working capital purposes.
The note is secured by a general security agreement over the company's present and after-acquired property, ranking subordinate to other secured indebtedness. This transaction is considered a related party transaction under TSX Venture Exchange Policy 5.9 and MI 61-101, with Roscan relying on exemptions from formal valuation and minority shareholder approval requirements.
Roscan Gold (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) ha completato un collocamento privato non mediato con il direttore Michael Gentile per un importo principale di CAD$300.000 tramite un prestito subordinato garantito. Il prestito, in scadenza l'11 settembre 2025, prevede un tasso d'interesse annuo del 12% ed è convertibile in azioni ordinarie a CAD$0,11 per azione. I proventi verranno utilizzati per scopi aziendali generali e per il capitale circolante.
Il prestito è garantito da un accordo di sicurezza generale sui beni attuali e futuri dell'azienda, classificandosi come subordinato rispetto ad altre passività garantite. Questa transazione è considerata una transazione con parti correlate ai sensi della Politica 5.9 di TSX Venture Exchange e MI 61-101, con Roscan che si avvale di esenzioni dai requisiti di valutazione formale e approvazione degli azionisti di minoranza.
Roscan Gold (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) ha cerrado una colocación privada no mediada con el director Michael Gentile por un monto principal de CAD$300,000 mediante un pagaré subordinado garantizado. El pagaré, con vencimiento el 11 de septiembre de 2025, tiene una tasa de interés anual del 12% y es convertible en acciones comunes a CAD$0.11 por acción. Los ingresos se utilizarán para fines corporativos generales y de capital de trabajo.
El pagaré está garantizado por un acuerdo de seguridad general sobre los bienes presentes y futuros de la empresa, con un rango subordinado a otras deudas aseguradas. Esta transacción se considera una transacción con partes relacionadas bajo la Política 5.9 de TSX Venture Exchange y MI 61-101, con Roscan confiando en exenciones de los requisitos de valoración formal y aprobación de accionistas minoritarios.
로스칸 골드 (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF)는 이사 마이클 젠틸과 중개인이 없는 사모 배치를 완료했습니다. 이번 배치는 CAD$300,000의 원금 안전한 후순위 약정으로 이루어졌습니다. 이 약정은 2025년 9월 11일 만기가 도래하며 연 12%의 이자율을 적용받고 주당 CAD$0.11에 보통주로 전환 가능합니다. 수익금은 일반 기업 및 운영 자본 목적으로 사용됩니다.
이 약정은 회사의 현재 및 미래의 자산에 대한 일반 보안 계약으로 보장되며, 다른 보안 채무에 대해 후순위로 설정됩니다. 이 거래는 TSX 벤처 거래소 정책 5.9 및 MI 61-101에 따라 관련자 거래로 간주되며, 로스칸은 공식 평가 및 소수 주주 승인 요구 사항에서 면제를 요청하고 있습니다.
Roscan Gold (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) a réalisé un placement privé sans intermédiaire avec le directeur Michael Gentile d'un montant principal de CAD$300.000 sous forme d'une note subordonnée sécurisée. La note, qui arrivera à échéance le 11 septembre 2025, porte un taux d'intérêt annuel de 12% et est convertible en actions ordinaires à CAD$0,11 par action. Les recettes seront utilisées à des fins générales d'entreprise et de fonds de roulement.
La note est garantie par une convention de sécurité générale sur les biens actuels et à venir de la société, avec un rang subordonné par rapport aux autres dettes garanties. Cette transaction est considérée comme une transaction entre parties liées en vertu de la Politique 5.9 de la Bourse de croissance TSX et de la MI 61-101, Roscan s'appuyant sur des exemptions aux exigences d'évaluation formelle et d'approbation des actionnaires minoritaires.
Roscan Gold (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) hat eine nicht vermittelte Privatplatzierung abgeschlossen mit dem Direktor Michael Gentile über einen Gesamtbetrag von CAD$300.000 in Form einer gesicherten nachrangigen Schuldscheinnote. Die Note, die am 11. September 2025 fällig wird, trägt einen jährlichen Zinssatz von 12% und ist in Stammaktien zu CAD$0,11 pro Aktie umwandelbar. Die Erlöse werden für allgemeine Unternehmens- und Betriebskapitalzwecke verwendet.
Die Note ist durch eine allgemeine Sicherheitsvereinbarung über das derzeitige und künftig erworbene Eigentum der Gesellschaft gesichert und hat gegenüber anderen gesicherten Verbindlichkeiten nachrangigen Rang. Diese Transaktion wird gemäß der TSX-Venture-Exchange-Richtlinie 5.9 und MI 61-101 als Transaktion mit nahestehenden Parteien betrachtet, wobei Roscan auf Ausnahmen von den Anforderungen an eine formelle Bewertung und die Genehmigung von Minderheitsaktionären vertraut.
- Secured CAD$300,000 in funding through a convertible note
- 12% interest rate on the note indicates investor confidence
- Conversion price of CAD$0.11 per share provides potential upside for the investor
- Related party transaction may raise concerns about corporate governance
- Dilution risk for existing shareholders if the note is converted to common shares
- Additional debt on the company's balance sheet
Toronto, Ontario--(Newsfile Corp. - October 4, 2024) - Roscan Gold Corporation (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) ("Roscan" or the "Company") announces that, further to its press release of September 11, 2024, the Company has closed its non-brokered private placement with Mr. Michael Gentile, a director of the Company, for a CAD
The Note bears interest at
The Notes issued pursuant to the Offering is secured by way of a general security agreement providing security over all of the present and after-acquired property of the Company ranking subordinate to all other secured indebtedness of the Company.
The Offering constitutes a related party transaction within the meaning of TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101") as Mr. Gentile subscribed for a
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
For further information, please contact:
Nana Sangmuah
President & CEO
Tel: (416) 900-1412
Email: info@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.sedarplus.ca. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225525
FAQ
What is the principal amount of the convertible debenture issued by Roscan Gold (RCGCF)?
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