Mr. Don Whalen reports
ROSCAN MINERALS CORPORATION ANNOUNCES PROPOSED PRIVATE PLACEMENT
Roscan Minerals Corp. intends to complete a non-brokered private placement of up to 1.8 million units at a price of five cents per unit for aggregate subscription proceeds of up to $90,000. Each unit will be composed of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share at a price of 10 cents for a period of five years from the date of issuance. The financing is subject to regulatory approval, including approval from the TSX Venture Exchange.
Certain non-arm's-length subscribers will participate in the private placement on the same terms as other participants, and the shareholdings of these individuals will increase as a result of their participation. Proceeds from the financing will be used for general working capital purposes.
We seek Safe Harbor.
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