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 societ脿.
La transazione 猫 considerata un'operazione con parti correlate ai sensi della Policy 5.9 della TSX Venture Exchange e del regolamento MI 61-101. Tuttavia, la societ脿 猫 esente dai requisiti di valutazione e dall'approvazione degli azionisti di minoranza poich茅 non 猫 quotata in un mercato specificato e la partecipazione degli insider non supera il 25% della capitalizzazione di mercato. L'estensione 猫 comunque subordinata alle approvazioni regolamentari, inclusa quella della TSX Venture Exchange.
Roscan Gold Corporation (OTCQB:RCGCF) ha anunciado su intenci贸n de prorrogar la fecha de vencimiento de sus pagar茅s subordinados garantizados por $1,3 millones, del 11 de septiembre de 2025 al 11 de septiembre de 2026. La extensi贸n incluye $700,000 en pagar茅s en poder de directivos de la compa帽铆a.
La operaci贸n se califica como una transacci贸n con partes relacionadas seg煤n la Pol铆tica 5.9 de TSX Venture Exchange y el MI 61-101. No obstante, la compa帽铆a est谩 exenta de los requisitos de valoraci贸n y de la aprobaci贸n de accionistas minoritarios, ya que no cotiza en un mercado especificado y la participaci贸n de los insiders no supera el 25% de la capitalizaci贸n de mercado. La pr贸rroga sigue sujeta a aprobaciones regulatorias, incluida la de la TSX Venture Exchange.
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Roscan Gold Corporation (OTCQB:RCGCF) a annonc茅 son intention de proroger la date d'茅ch茅ance de ses billets 脿 ordre subordonn茅s garantis d'un montant de 1,3 M$, du 11 septembre 2025 au 11 septembre 2026. L'extension concerne 茅galement 700 000 $ de billets d茅tenus par des initi茅s de la soci茅t茅.
La transaction est consid茅r茅e comme une op茅ration avec une partie li茅e au sens de la politique 5.9 de la TSX Venture Exchange et du MI 61-101. Toutefois, la soci茅t茅 est exon茅r茅e des exigences d'茅valuation et de l'approbation des actionnaires minoritaires car elle n'est pas cot茅e sur un march茅 sp茅cifi茅 et la participation des initi茅s n'exc猫de pas 25 % de la capitalisation boursi猫re. L'extension reste soumise aux autorisations r茅glementaires, y compris celle de la TSX Venture Exchange.
Roscan Gold Corporation (OTCQB:RCGCF) hat angek眉ndigt, das F盲lligkeitsdatum seiner besicherten nachrangigen Schuldscheine in H枚he von $1,3 Millionen vom 11. September 2025 auf den 11. September 2026 zu verl盲ngern. Die Verl盲ngerung umfasst $700.000 an Schuldscheinen, die von Unternehmensinsidern gehalten werden.
Die Transaktion gilt gem盲脽 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 Minderheitsaktion盲ren befreit, da es nicht an einem festgelegten Markt notiert ist und die Beteiligung der Insider 25% der Marktkapitalisierung nicht 眉berschreitet. Die Verl盲ngerung bleibt vorbehaltlich regulatorischer Genehmigungen, einschlie脽lich 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: [email protected]
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 . 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.
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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?
