Toronto, Ontario--(Newsfile Corp. - November 17, 2020) - Michael Gentile announces that he has filed an early warning report (the "Report") announcing the acquisition ("Acquisition") of 3,250,000 common shares (the "Common Shares") in the capital of Roscan Gold Corporation (the "Company") through the exercise of 3,250,000 previously acquired Common Share purchase warrants (the "Warrants") with an exercise price of CAD$0.16 per Common Share.
Prior to the completion of the Warrant, Gentile beneficially owned and controlled, directly or indirectly, an aggregate of 13,250,000 Common Shares, an aggregate of 9,937,500 Warrants, and an aggregate of 1,750,000 stock options, representing approximately 5.06% of the Company's issued and outstanding Common Shares on an undiluted basis and approximately 9.13% of the Company's issued and outstanding Common Shares on a partially diluted basis. Following the completion of the Warrant Exercise, Mr. Gentile beneficially owns and controls, an aggregate of 16,500,000 Common Shares, 6,687,500 Warrants, and 1,750,000 stock options, representing approximately 6.31% of the Company's issued and outstanding Common Shares on an undiluted basis and approximately 9.13% of the Company's issued and outstanding Common Shares on a partially diluted basis.
The Common Shares were acquired for investment purposes. Mr. Gentile has a long-term view of the investment and may acquire additional securities of the Company either on the open market or through private acquisitions or sell the Shares on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors.
For further details relating to the acquisition, please see the Report, a copy of which is available on SEDAR or from Michael Gentile at 514-591-4227.
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