Toronto, Ontario--(Newsfile Corp. - August 20, 2018) - Roscan Minerals Corporation ("Roscan" or the "Company") (TSXV: ROS) ) is pleased to announce that it has completed the second and final tranche of its previously announced private placement by issuing 2,036,700 units ("Units") at a price of $0.06 per Unit for aggregate gross proceeds of $122,202 (the "Offering").
Each Unit is comprised of one common share ("Common Share") and one Common Share purchase warrant ("Warrant"). Each Warrant entitles the holder thereof to purchase one additional Common Share at an exercise price of $0.12 for 24 months from the closing of the Offering. The Company reserves the right to accelerate the expiration of the Warrants, if at any time which is more than four months and one day following the closing date of the Offering, the trading price of the Common Shares of the Company on the TSX Venture Exchange is $0.24 or more for at least 20 consecutive trading days, in which case the Company may provide notice to Warrant holders to exercise their Warrants within 10 days following the date of such notice.
The Common Shares and Warrants issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of issuance and the resale rules of applicable securities legislation.
The Company intends to use the net proceeds from the Offering for exploration and development of the Company's mineral properties and for general corporate and working capital purposes.
Eligible persons (the "Finders") were paid a cash commission of $6,874.14 from the gross proceeds raised from subscribers introduced to the Company by such Finders.
ABOUT ROSCAN
RosCan Minerals Corporation is a Canadian gold exploration company focussed on West Africa. The Company has assembled a land position of 100%-owned permits in an area of large gold deposits for its Kandiole Project in west Mali.
For further information, please contact:
Greg Isenor
President and Chief Executive Officer
Tel: (902) 832-5555 or (416) 293-8437
Email: info@roscan.ca
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