Roscan Gold Corporation announced a private placement of a secured subordinated convertible note at a principal amount of CAD 1,000,000 for the gross proceeds of CAD 1,000,000 on February 21, 2024. The note will bear a 12% coupon rate and will be convertible at a conversion price of CAD 0.11. All securities issued 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.

Closing of the offering are subject to customary closing conditions, including the consent of the secured creditor of the company with respect to the grant of security, and approvals of applicable securities regulatory authorities, including the TSX Venture Exchange. It is expected that insiders of the company will participate in the Offering for CAD 400,000 principal amount.