Roscan Announces Option Grant
Roscan Gold Corporation News Release September 23, 2020
Roscan Gold Corporation
1550 Bedford Highway, Suite 800
Bedford, Nova Scotia B4A 1E6
NEWS RELEASE
ROSCAN ANNOUNCES OPTION GRANT
Toronto, September 23, 2020 – Roscan Gold Corporation (“Roscan” or the “Company”) (TSX-V: ROS) (FSE:2OJ)
(OTC Pink: RCGCF) announces that it has granted 5,500,000 options to purchase common shares (each, a
“Common Share”) of the Company exercisable at a price of $0.37 per Common Share and expiring on September
23, 2025, to certain officers of the Company. 1,500,000 options vest immediately, with the balance of 4,000,000
options vesting upon the achievement of performance-based criteria which are as follows:
i. 1,375,000 options will vest in the event that the trading price of the Common Shares is within the top
quartile s hare price performance for the period from September 1, 2020 to August 31, 20 21, as
compared to a group of 15 peer companies which were identified in an executive compensation report
commissioned and prepared for the Company by an independent compensation consultant;
ii. 875,000 options will vest upon the Company defining a mineral resource of greater than 1.5 million
ounces of gold in a technical report (a “ Technical Report”), prepared in accordance with National
Instrument 43-101, on the Company’s Mali exploration properties , above 2 grams per tonne, using
standard cut-off grade with finding costs of US$25/oz or less;
iii. 875,000 options will vest upon the Company defining a min eral resource of greater than 2 million
ounces of gold in a Technical Report on the Company’s Mali exploration properties, above 2 grams per
tonne, using standard cut-off grade with finding costs of US$25/oz or less; and
iv. 875,000 options will vest upon the Company defining a mineral resource of greater than 2.5 million
ounces of gold in a Technical Report on the Company’s Mali exploration properties, above 2 grams per
tonne, using standard cut-off grade with finding costs of US$25/oz or less.
The Common Shares issuable upon exercise of the options are subject to a four-month hold period from the date
of grant.
ABOUT ROSCAN
Roscan Gold Corporation is a Canadian gold exploration company focused on the acquisition and exploration of
gold properties in West Africa. The Company has assembled a significant land position of 100%-owned permits in
an area of producing gold mines (including B2 Gold’s Fekola Mine which lies in a contiguous property to the west
of Kandiole), and major gold deposits, located both north and south of its Kandiole Project in west Mali.
For further information, please contact:
Andrew J. Ramcharan, P. Eng
Executive Vice President – Corporate Development
Tel: (416) 572-2295
Email: [email protected]
Forward Looking Statements
Roscan Gold Corporation News Release September 23, 2020
Roscan Gold Corporation
1550 Bedford Highway, Suite 800
Bedford, Nova Scotia B4A 1E6
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 w ords, or
statements that certain events or conditions “may” or “will” occur. Forward -looking information involves ri sks, uncertainties and other
factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by su ch 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 r egulatory or
governmental approvals, and other risks involved in the mineral expl oration 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 www.sedar.com. 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 Ven ture Exchange)
accepts responsibility for the adequacy or accuracy of this release.