Roscan Gold Announces Fully Subscribed C$1.5 Million Note Financing Led by Strategic Investor and Board Director Michael Gentile

The news release dated December 18, 2025, announces a fully subscribed C$1.5 million financing through a secured convertible note. The financing is led by Michael Gentile, a strategic investor and member of the Board of Directors. The proceeds are earmarked for general working capital. CEO Nana Sangmuah indicates that the company is in the "final phase" of the permitting process, transitioning from an explorer to a developer at the Kandiole Project in Mali.

This financing is a material positive event because it addresses an immediate liquidity crisis. According to the July 31, 2025, financial statements, the company had a total equity deficiency of C$2.34 million and less than C$1 million in cash. With a quarterly burn rate (corporate and exploration) of approximately C$560k–C$600k, the company was on the verge of insolvency. - Liquidity Lifeline: The C$1.5 million provides a 6–9 month runway to reach the next major milestone (the exploitation permit). - Insider Confidence: The lead participation of Michael Gentile, a well-known professional investor in the junior mining space, provides a "seal of approval" that may mitigate market concerns regarding Malian jurisdictional risk. - Cost of Capital: The use of a secured convertible note suggests that traditional equity financing at current prices may have been too dilutive or unavailable.

Roscan Gold is a Canadian gold explorer focused on the Kandiole Project in West Mali. The project is strategically located near several multi-million-ounce producing mines (e.g., Fekola, Loulo, Gounkoto). - Resource Base: As of March 2025, the project hosts an Indicated Resource of 1.02 million ounces at 1.2 g/t gold and an Inferred Resource of 200,000 ounces at 1.2 g/t gold. - Strategy: Transitioning from exploration to development by securing an exploitation license and moving toward a production decision.