Roscan Gold Announces Extension to Promissory Notes
Roscan Gold Corporation (OTCQB:RCGCF) has announced plans to extend the maturity date of its secured subordinate promissory notes worth $1.3 million from September 11, 2025, to September 11, 2026. The extension includes $700,000 in notes held by company insiders.
The transaction qualifies as a related party transaction under TSX Venture Exchange Policy 5.9 and MI 61-101. However, the company is exempt from valuation and minority shareholder approval requirements as it's not listed on a specified market and the insider participation doesn't exceed 25% of market capitalization. The extension remains subject to regulatory approvals, including TSX Venture Exchange approval.
Roscan Gold Corporation (OTCQB:RCGCF) ha annunciato l'intenzione di posticipare la scadenza dei suoi cambiali subordinate garantite per un totale di $1,3 milioni, spostandola dall'11 settembre 2025 all'11 settembre 2026. L'operazione riguarda anche $700.000 di cambiali detenute da dirigenti della società.
La transazione è considerata un'operazione con parti correlate ai sensi della Policy 5.9 della TSX Venture Exchange e del regolamento MI 61-101. Tuttavia, la società è esente dai requisiti di valutazione e dall'approvazione degli azionisti di minoranza poiché non è quotata in un mercato specificato e la partecipazione degli insider non supera il 25% della capitalizzazione di mercato. L'estensione è comunque subordinata alle approvazioni regolamentari, inclusa quella della TSX Venture Exchange.
Roscan Gold Corporation (OTCQB:RCGCF) ha anunciado su intención de prorrogar la fecha de vencimiento de sus pagarés subordinados garantizados por $1,3 millones, del 11 de septiembre de 2025 al 11 de septiembre de 2026. La extensión incluye $700,000 en pagarés en poder de directivos de la compañía.
La operación se califica como una transacción con partes relacionadas según la Política 5.9 de TSX Venture Exchange y el MI 61-101. No obstante, la compañía está exenta de los requisitos de valoración y de la aprobación de accionistas minoritarios, ya que no cotiza en un mercado especificado y la participación de los insiders no supera el 25% de la capitalización de mercado. La prórroga sigue sujeta a aprobaciones regulatorias, incluida la de la TSX Venture Exchange.
Roscan Gold Corporation (OTCQB:RCGCF)는 담보부 후순위 약속어음(총액 $1.3백만)의 만기일을 2025년 9월 11일에서 2026년 9월 11일로 연장할 계획이라고 발표했습니다. 이 연장에는 내부 임원들이 보유한 $700,000의 어음도 포함됩니다.
이 거래는 TSX Venture Exchange 정책 5.9 및 MI 61-101에 따른 특수관계자 거래로 분류됩니다. 다만, 회사가 지정된 시장에 상장되어 있지 않고 내부자 참여 비율이 시가총액의 25%를 넘지 않으므로 평가 및 소액주주 승인 요건은 면제됩니다. 연장은 TSX Venture Exchange 승인을 포함한 규제기관의 승인 대상입니다.
Roscan Gold Corporation (OTCQB:RCGCF) a annoncé son intention de proroger la date d'échéance de ses billets à ordre subordonnés garantis d'un montant de 1,3 M$, du 11 septembre 2025 au 11 septembre 2026. L'extension concerne également 700 000 $ de billets détenus par des initiés de la société.
La transaction est considérée comme une opération avec une partie liée au sens de la politique 5.9 de la TSX Venture Exchange et du MI 61-101. Toutefois, la société est exonérée des exigences d'évaluation et de l'approbation des actionnaires minoritaires car elle n'est pas cotée sur un marché spécifié et la participation des initiés n'excède pas 25 % de la capitalisation boursière. L'extension reste soumise aux autorisations réglementaires, y compris celle de la TSX Venture Exchange.
Roscan Gold Corporation (OTCQB:RCGCF) hat angekündigt, das Fälligkeitsdatum seiner besicherten nachrangigen Schuldscheine in Höhe von $1,3 Millionen vom 11. September 2025 auf den 11. September 2026 zu verlängern. Die Verlängerung umfasst $700.000 an Schuldscheinen, die von Unternehmensinsidern gehalten werden.
Die Transaktion gilt gemäß TSX Venture Exchange Policy 5.9 und MI 61-101 als Transaktion mit verbundenen Parteien. Das Unternehmen ist jedoch von den Anforderungen an Bewertungen und die Zustimmung von Minderheitsaktionären befreit, da es nicht an einem festgelegten Markt notiert ist und die Beteiligung der Insider 25% der Marktkapitalisierung nicht überschreitet. Die Verlängerung bleibt vorbehaltlich regulatorischer Genehmigungen, einschließlich der Zustimmung der TSX Venture Exchange.
- Extension of promissory notes provides additional financial flexibility for one year
- Company qualifies for exemptions from valuation and minority shareholder approval requirements
- Significant insider involvement with $700,000 of the $1.3 million notes held by insiders
- Continued debt obligations indicate potential financial constraints
Toronto, Ontario--(Newsfile Corp. - September 11, 2025) - Roscan Gold Corporation (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) ("Roscan" or the "Company") announces that, further to its press release of March 11, 2024, September 6, 2024 and September 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/266031
FAQ
What is the new maturity date for Roscan Gold's (RCGCF) promissory notes?
How much of Roscan Gold's promissory notes are held by insiders?
Why doesn't Roscan Gold need minority shareholder approval for the note extension?
What regulatory approvals does Roscan Gold need for the note extension?
