Toronto, Ontario--(Newsfile Corp. - October 4, 2024) - Michael Gentile announces that he has filed an early warning report (the "Report") announcing the acquisition (the "Acquisition") of a CAD$300,000 principal amount secured subordinate promissory note (the "Note") granted by Roscan Gold Corporation (the "Company") in favour of Mr. Gentile. Prior to the completion of the Acquisition, Mr. Gentile beneficially owned and controlled, directly or indirectly, 33,337,500 common shares (the "Common Shares") in the capital of the Company, 700,000 stock options, 1,575,000 restricted share units and a CAD$250,000 principal amount secured subordinate promissory note, representing approximately 8.37% of the Company's issued and outstanding Common Shares on an undiluted basis and approximately 9.45% of the Company's issued and outstanding Common Shares on a partially diluted basis. Following the completion of the Acquisition, Mr. Gentile beneficially owns and controls, directly or indirectly, an aggregate of 33,337,500 Common Shares, 700,000 stock options, 1,575,000 restricted share units and a CAD$550,000 principal amount secured subordinate promissory note, representing approximately 8.37% of the Company's issued and outstanding Common Shares on an undiluted basis and approximately 10.02% of the Company's issued and outstanding 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 Common 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 by contacting Michael Gentile at (514) 591-4227.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/225681
