Roscan Gold Appoints Mr. Srinivasan Venkatakrishnan (“Venkat”), Former CEO of AngloGold Ashanti to Board of Directors

Rhea-AI Summary

Roscan Gold Corporation has appointed Mr. Srinivasan Venkatakrishnan as an Independent Non-Executive Director. Venkat, a seasoned executive with over 30 years in the gold sector, is expected to enhance the company’s strategic direction, particularly in advancing the Kandiole Project towards production. His previous roles include CEO of Vedanta Resources and AngloGold Ashanti. The board has approved the granting of 3.5 million stock options to Venkat, with a vesting schedule over five years. This addition is viewed positively for stakeholders as Roscan aims to leverage Venkat's extensive experience in operations and finance.

Positive

• Mr. Srinivasan Venkatakrishnan brings over 30 years of experience in the gold sector, which could strengthen Roscan's strategic direction.
• His prior leadership roles at Vedanta Resources and AngloGold Ashanti may enhance operational and financial strategies.
• The stock options granted could align Venkat’s incentives with shareholder interests, fostering a focus on value creation.

Negative

• Concerns about potential continuity and experience gaps as new leadership joins the board.

TORONTO, ON / ACCESSWIRE / February 8, 2021 / Roscan Gold Corporation ("Roscan" or the "Company") (TSXV:ROS)(FSE:2OJ)(OTC PINK:RCGCF) is pleased to announce that Mr. Srinivasan Venkatakrishnan ("Venkat"), has joined the Board of Directors of Roscan, as an Independent Non-Executive Director. Venkat a Mining Executive is widely known in the gold sector, where he built an exceptional 30+ year track record leading multinational organizations through transformative change, while fostering and maintaining relationships with investors, financiers, and governments. Venkat brings an exceptional skillset in corporate finance and merger and acquisition (M&A).

Sir Sam Jonah, Chairman of the Company commented: "We are excited to have Venkat as a key strategic addition to the Board. We welcome Venkat and his extensive experience in operations, resource development, capital markets and M&A which will be greatly beneficial to all shareholders as we advance Kandiole Project towards production."

Mr. Sangmuah, CEO of the Company commented: "It's a privilege to have Mr. Venkatakrishnan join Roscan's Board of Directors, a tremendous addition to a strong existing team of high profile and accomplished professionals in the mining sector globally. Venkat's acceptance to join our board speaks volumes to the opportunity he and our board see at Roscan going forward. Roscan will greatly benefit from Venkat's additional guidance as an experienced leader with a global profile who can help set vision and strategy to create significant value to all stakeholders."

Mr. Venkat stated: "Roscan's Kandiole project has enormous upside potential and the team is focused on delivering a successful and sustaining exploration plan that will add value to all stakeholders. I welcome the chance to join this impressive team and am excited to be part of this value-enhancing journey."

Appointment of Mr. Srinivasan Venkatakrishnan to the Board of Directors

Venkat joins Roscan from Vedanta Resources Plc, the world's six largest (and India's largest) diversified natural resources group, where he served as the CEO of from 2018 to 2020. Prior to Vedanta, he served from 2013 to 2018 as CEO of AngloGold Ashanti Ltd, the world third-largest gold producer, where he also held the position of Executive Director (Finance) & CFO from 2005 to 2013, before which he was Executive Director and CFO of Ashanti Goldfields Ltd since 2000 to the time the company merged with AngloGold Limited in 2004.

Stock Options

The Company's board of directors has approved the granting of 3,500,000 incentive stock options pursuant to the Company's Stock Option Plan to Venkat, subject to approval and vesting over the following schedule:

1,500,000 vesting immediately on signing.

1,000,000 vesting on the first anniversary of his appointment to the board of directors.

1,000,000 vesting on the second anniversary of his appointment to the board of directors.

The options are exercisable at a price of $0.385 per share for a period of five (5) years from issuance.

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 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, P.Eng
Executive Vice President - Corporate Development
Tel: (416) 572-2295
Email: aramcharan@Roscan.ca

Greg Isenor, P.Geo
Executive Vice-Chairman
Tel: (902) 221-2329
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.

SOURCE: Roscan Gold Corporation

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https://www.accesswire.com/628212/Roscan-Gold-Appoints-Mr-Srinivasan-Venkatakrishnan-Venkat-Former-CEO-of-AngloGold-Ashanti-to-Board-of-Directors

FAQ

Who is Srinivasan Venkatakrishnan and what is his role at Roscan Gold Corporation?

Srinivasan Venkatakrishnan is the newly appointed Independent Non-Executive Director of Roscan Gold, with over 30 years of experience in the mining industry.

What are the expected impacts of Venkat's appointment on Roscan Gold?

Venkat's deep experience in corporate finance and M&A is expected to enhance Roscan's strategic direction and operations, particularly for the Kandiole Project.

What is the vesting schedule for Venkat's stock options?

Venkat has been granted 3.5 million stock options, with 1.5 million vesting immediately, and 1 million vesting on each of the first and second anniversaries of his appointment.

What is the significance of the Kandiole Project for Roscan Gold?

The Kandiole Project is central to Roscan's operations and growth strategy, with substantial potential as they aim to advance it towards production.