Roscan Gold Announces Debt Settlement and Proposed Financing
Toronto, Ontario--(Newsfile Corp. - February 21, 2024) - Roscan Gold Corporation (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) ("Roscan" or the "Company") is pleased to announce that it has agreed to settle (the "Debt Settlement") an aggregate of USD$1,005,000 debt owed to an arm's length creditor through the issuance of a secured convertible promissory note (the "Note").
- Toronto, Ontario--(Newsfile Corp. - February 21, 2024) - Roscan Gold Corporation (TSXV: ROS) (FSE: 2OJ) (OTCQB: RCGCF) ("Roscan" or the "Company") is pleased to announce that it has agreed to settle (the "Debt Settlement") an aggregate of USD$1,005,000 debt owed to an arm's length creditor through the issuance of a secured convertible promissory note (the "Note").
- The Note issued pursuant to the Debt Settlement shall be secured by way of a general security agreement providing security ranking subordinate to the other secured indebtedness of the Company, over all of the present and after-acquired property of the Company.
- It is expected that insiders of the Company will participate in the Offering for CAD$400,000 principal amount of Convertible Notes.
- All securities issued in connection with the Offering and the Debt Settlement 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.