Roscan director Gentile increases shareholding to 6.31%
2020-11-17 14:57 PT - News Release
Mr. Michael Gentile reports
MICHAEL GENTILE ANNOUNCES FILING OF EARLY WARNING REPORT RELATED TO ACQUISITION OF COMMON SHARES OF ROSCAN GOLD CORPORATION
Michael Gentile has filed an early warning report announcing the acquisition of 3.25 million common shares in the capital of Roscan Gold Corp. through the exercise of 3.25 million previously acquired common share purchase warrants with an exercise price of 16 cents per common share.
Prior to the completion of the warrant exercise, Mr. Gentile beneficially owned and controlled, directly or indirectly, an aggregate of 13.25 million common shares, an aggregate of 9,937,500 warrants and an aggregate of 1.75 million stock options, representing approximately 5.06 per cent of the company's issued and outstanding common shares on an undiluted basis, and approximately 9.13 per cent 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 16.5 million common shares, 6,687,500 warrants and 1.75 million stock options, representing approximately 6.31 per cent of the company's issued and outstanding common shares on an undiluted basis, and approximately 9.13 per cent 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.
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