Roscan Gold Stock Price, News & Analysis

Michael Gentile has filed an early warning report announcing the acquisition of a CAD$300,000 principal amount secured subordinate promissory note from Roscan Gold Prior to this acquisition, Gentile owned 33,337,500 common shares, 700,000 stock options, 1,575,000 restricted share units, and a CAD$250,000 promissory note, representing approximately 8.37% of the company's issued and outstanding common shares on an undiluted basis and 9.45% on a partially diluted basis.

Following the acquisition, Gentile's holdings remain at 33,337,500 common shares, 700,000 stock options, and 1,575,000 restricted share units, but now include a CAD$550,000 principal amount secured subordinate promissory note. This represents approximately 8.37% of the company's shares on an undiluted basis and 10.02% on a partially diluted basis. Gentile states he has a long-term view of the investment and may acquire or sell additional securities in the future.

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) has announced significant changes to its Board of Directors. Nana Sangmuah has been appointed as the Executive Chairman, succeeding Sir Samuel Jonah who is stepping down for personal reasons. Additionally, Rahul Paul has been appointed to the Board, bringing over 17 years of experience in capital markets and the mining industry.

Mr. Paul, formerly President & CEO of Radisson Mining Resources Inc., has a strong track record in securing financing and overseeing successful drill programs. His appointment is expected to strengthen Roscan's growth strategy as the company transitions from advanced exploration towards permitting and development.

The company has also granted 500,000 incentive stock options to Mr. Paul, exercisable at $0.08 per share for five years.

Roscan Gold (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) has received approval from the TSX Venture Exchange to extend the maturity date of its outstanding secured subordinate promissory notes, totaling $1,000,000, to September 11, 2025. Additionally, the company plans to complete a non-brokered private placement with director Michael Gentile for CAD$300,000 in secured subordinate promissory notes. These notes will bear 12% annual interest and mature on September 11, 2025. They are convertible into common shares at CAD$0.11 per share. The offering constitutes a related party transaction, but Roscan will rely on exemptions from formal valuation and minority shareholder approval requirements. Proceeds will be used for general corporate and working capital purposes.

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) announced the results of its Annual General Meeting of Shareholders held on June 28, 2024. Shareholders holding 40.30% of shares participated. All proposals were approved, including the election of directors and the omnibus long-term incentive plan. Re-elected directors are Sir Samuel E. Jonah, Nana B. Sangmuah, Greg Isenor, and Michael Gentile. Additionally, RSM Canada LLP was reappointed as auditors.

The Board approved the granting of 4,612,000 incentive stock options to employees, officers, directors, and consultants, exercisable at $0.10 per share for five years, vesting immediately. They also approved 2,460,000 restricted share units and 2,000,000 performance share units, which will vest in at least one year.

Roscan Gold announces a Debt Settlement agreement to settle US$1,050,000 owing to a creditor for drilling and services, involving a cash payment, issuance of common shares, and a promissory note. The settlement includes trading restrictions and interest at 12% per annum, secured by a general security agreement. The securities offered are not registered under the U.S. Securities Act and are not available for sale in the United States.