Business
Roscan Gold Corp. Announces Increase to Marketed Offering and Concurrent Non-Brokered Offering
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
About this update from Roscan Gold Corporation
[{"type":"text","content":" THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. TORONTO, March 01, 2019 (GLOBE NEWSWIRE) -- Roscan Gold Corp. (\"Roscan\" or “ROS” or the \"Company\") (TSX VENTURE: ROS) is pleased to announce today that due to strong demand, it has agreed with Clarus Securities Inc. (the “Agent”), to increase the size of its previously announced C$2,000,000 offering. Pursuant to the upsized deal terms, Clarus will raise up to C$ 3,300,000 (the “Offering”) through an Offering of up to 23,571,428 units of the Company (the “Units”) to be priced at C$0.14 per Unit. Each Unit is comprised of one common share in the capital of the Company (“Common Share”) and one Common Share purchase warrant (“Warrant”), with each Warrant entitling the holder to purchase one Common Share at an exercise price of $0.22 for 24 months following the completion of the Offering. In addition, the Company intends to complete a concurrent non-brokered private placement (the “Non-Brokered Offering” and together with the Offering, the “Offerings”) of up to C$500,000 through a Non-Brokered Offering of up to 3,571,429 Units to be priced at C$0.14 per Unit on the same terms as the Offering. The proceeds raised from the Offerings will be used by the Company for exploration and development of the Company’s mineral properties and for general corporate purposes. The Offerings are scheduled to close on or about March 14, 2019, and are subject to certain conditions including, but not limited to, the receipt of all necessary approvals of the TSX Venture Exchange. The securities to be issued under the Offerings will be offered by way of private placement exemptions in all the provinces of Canada. The Units to be issued under the Offerings will also be offered offshore, including in the United Kingdom pursuant to applicable exemptions and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended. The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. pers...