Roscan Gold Announces Extension to Promissory Notes
Roscan Gold (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) has announced its intention to extend the maturity date of its outstanding secured subordinate promissory notes, totaling $1,000,000. The extension will move the maturity date from September 11, 2024, to September 11, 2025. This Proposed Amendment is considered a related party transaction as insiders hold $400,000 of the Notes. Roscan is relying on exemptions from valuation and minority shareholder approval requirements. The company did not file a material change report 21 days in advance due to recent settlement of details. The amendment is subject to customary closing conditions and regulatory approvals, including from the TSX Venture Exchange.
Roscan Gold (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) ha annunciato la sua intenzione di estendere la data di scadenza delle sue obbligazioni subordinate garantite in circolazione, per un totale di $1.000.000. L'estensione sposterà la data di scadenza da 11 settembre 2024 a 11 settembre 2025. Questa Modifica Proposta è considerata una transazione con parti correlate, poiché gli insider detengono $400.000 delle Note. Roscan si avvale di esenzioni dai requisiti di valutazione e approvazione degli azionisti di minoranza. La società non ha presentato un rapporto di modifica sostanziale 21 giorni prima a causa del recente accordo sui dettagli. L'emendamento è soggetto a condizioni di chiusura abituali e approvazioni regolatorie, inclusa quella dalla TSX Venture Exchange.
Roscan Gold (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) ha anunciado su intención de extender la fecha de vencimiento de sus pagarés subordinados asegurados en circulación, que totalizan $1,000,000. La extensión moverá la fecha de vencimiento de 11 de septiembre de 2024 a 11 de septiembre de 2025. Esta Modificación Propuesta se considera una transacción entre partes relacionadas, ya que los interesados poseen $400,000 de los Pagarés. Roscan se apoya en exenciones de los requisitos de valoración y aprobación por parte de accionistas minoritarios. La empresa no presentó un informe de cambio material 21 días antes debido al reciente acuerdo de detalles. La enmienda está sujeta a condiciones habituales de cierre y aprobaciones regulatorias, incluida la de la TSX Venture Exchange.
로스캔 골드 (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF)는 총 $1,000,000의 미지급 담보 부속 사채의 만기일을 연장할 계획을 발표했습니다. 연장은 만기일을 2024년 9월 11일에서 2025년 9월 11일로 연장합니다. 이 제안된 수정안은 내부자가 $400,000의 채권을 보유하고 있어 관련 당사자 거래로 간주됩니다. 로스캔은 평가 및 소수주주 승인 요건에서 면제를 받고 있습니다. 회사는 최근 세부사항 합의로 인해 21일 전에 주요 변경 보고서를 제출하지 않았습니다. 개정안은 관례적인 마감 조건과 규제 승인을 받아야 하며 TSX 벤처 거래소의 승인이 포함됩니다.
Roscan Gold (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) a annoncé son intention de prolonger la date d'échéance de ses billets à ordre subordonnés garantis en circulation, pour un total de 1 000 000 $. Le prolongement déplacera la date d'échéance du 11 septembre 2024 au 11 septembre 2025. Ce projet de modification est considéré comme une transaction entre parties liées, car les initiés détiennent 400 000 $ des billets. Roscan compte sur des exonérations des exigences d'évaluation et d'approbation des actionnaires minoritaires. L'entreprise n'a pas déposé de rapport de changement important 21 jours à l'avance en raison d'un règlement récent des détails. L'amendement est soumis aux conditions de clôture habituelles et aux approbations réglementaires, y compris celles de la TSX Venture Exchange.
Roscan Gold (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) hat seine Absicht angekündigt, das Fälligkeitsdatum seiner ausstehenden gesicherten nachrangigen Schuldscheine, die insgesamt $1.000.000 betragen, zu verlängern. Die Verlängerung wird das Fälligkeitsdatum von 11. September 2024 auf 11. September 2025 verschieben. Diese vorgeschlagene Änderung wird als Transaktion mit nahestehenden Personen betrachtet, da Insider $400.000 der Schuldscheine halten. Roscan stützt sich auf Ausnahmen von den Anforderungen an die Bewertung und die Zustimmung der Minderheitsaktionäre. Das Unternehmen hat aufgrund einer kürzlichen Einigung über Details keinen wesentlichen Änderungsbericht 21 Tage im Voraus eingereicht. Die Änderung unterliegt den üblichen Abschlussbedingungen und behördlichen Genehmigungen, einschließlich der der TSX Venture Exchange.
- Extension of promissory notes maturity date by one year, potentially improving short-term liquidity
- Reliance on exemptions from valuation and minority shareholder approval requirements, simplifying the process
- Related party transaction involving $400,000 of the Notes held by insiders
- Delay in filing material change report, which could be seen as lack of transparency
- Extension of debt obligations, potentially indicating cash flow challenges
Toronto, Ontario--(Newsfile Corp. - September 6, 2024) - Roscan Gold Corporation (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) ("Roscan" or the "Company") announces that, further to its press release of March 11, 2024, it intends to extend the maturity date of its outstanding secured subordinate promissory notes in the aggregate of
The Proposed Amendment is considered 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 insiders of the Company hold an aggregate of
The Proposed Amendment is subject to customary closing conditions and approvals of applicable securities regulatory authorities, including the TSX Venture Exchange.
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/222460
FAQ
What is the new maturity date for Roscan Gold's promissory notes?
How much of Roscan Gold's promissory notes are held by insiders?
What exemptions is Roscan Gold relying on for this transaction?
What approvals does Roscan Gold need for the promissory notes extension?
