Toronto, Ontario--(Newsfile Corp. - July 27, 2018) - Roscan Minerals Corporation (the "Company") - Mr. Greg Isenor (the "Purchaser"), a director and officer of the Company, announces that he has filed an early warning report (the "Report") announcing that he has acquired ownership and control over 3,333,333 units (the "Units") of the Company in connection with a private placement of the Company (the "Offering"). Each Unit consists of one common share of the Company (each a "Common Share") and a one Common Share purchase warrant (each a "Warrant"). Each Warrant will entitle the holder to acquire one additional Common Share for a period of twenty-four (24) months from the date of issuance at an exercise price of $0.12 per Common Share. The Company reserves the right to accelerate the expiration of the Warrants, if at any time which is more than four months and one day following the closing date of the Offering, the trading price of the Common Shares of the Company on the TSX Venture Exchange is $0.24 or more for at least 20 consecutive trading days, in which case the Company may provide notice to Warrant holders to exercise their Warrants within 10 days following the date of such notice.
Together with the Purchaser's existing holdings of 1,380,000 Common Shares, 1,200,000 Warrants and 4,800,000 optioned shares, and assuming the exercise of the Warrants and the Optioned Shares represents approximately 15.0% of the issued and outstanding common shares of the Company on a partially diluted basis.
The Units were acquired for investment purposes. The Purchaser has a long-term view of the investment and may acquire additional common shares 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 Roscan Minerals Corporation's profile at www.sedar.com.For further information, please contact:
President and Chief Executive Officer
Tel: (902) 832-5555 or (416) 293-8437
Email: [email protected]