Toronto, Ontario--(Newsfile Corp. - January 13, 2020) - Roscan Gold Corporation (TSXV: ROS) (FSE:2OJ) ("Roscan" or the "Company") is pleased to announce the Appointment of Sir Samuel Jonah as Non-Executive Chairman of the Board, and Mr. Michael Gentile, CFA will transition to a Board Member from current Strategic Advisor role (12th December, 2019). Further, Roscan announces the acceptance of the resignation of the Board Members, Mr. Don Whalen and Mr. David Mosher, effective immediately.
Mr. Sangmuah, CEO of the Company commented: "I would like to thank both Mr. Don Whalen and Mr. David Mosher for their time and advice over the years as Roscan advanced our project in Mali. Their help has been invaluable in setting the stage for the next phase of growth for Roscan. It is anticipated that this new appointment of Sir Samuel Jonah with his experience and expertise in the mining sector globally, especially in West Africa, will be a tremendous asset to the company. In a similar role, Sir Samuel Jonah was able to transform Equinox Minerals from a $63M market capitalization company to a $7.4B company before selling to Barrick. In addition he had a similar role in transitioning Moto Gold from a $50M market capitalization company to a $546M company before selling to Rangold. I am honoured and privileged to have him join the Roscan board and foresee a similar path of value creation under his guidance. In addition, I am very pleased to advise that Mr. Michael Gentile has agreed to transition into a more significant role with Roscan as a Board Member to the Corporation."
"Roscan's future is bright and exciting," said Sir Samuel Jonah. "The Company's exploration program is off to a great start, and has a great team to take the Company to a new level. With positive drill results and news flow this promises to be a very exciting year for Roscan shareholders."
Appointment of Sir Samuel Jonah to Non-Executive Chairman
Sir Samuel Jonah earned an Associateship in Mining Engineering at the Camborne School of Mines, Cornwall, England, and subsequently a M.Sc in Mine Management at the Imperial College of Science and Technology, London. Jonah's has an honorary Doctor of Science (D.Sc.) degree awarded jointly by the Camborne School of Mines and the University of Exeter (UK) in 1996.
He joined Ashanti Goldfields Corporation in 1979, working in various capacities, including underground operations. At the age of 36 he became the Chief Executive Officer (CEO), and supervised the transformation of Ashanti Goldfields into a mining multinational, increased gold production from 240,000 ounces per annum to over 1.6 million ounces in over ten years, and oversaw the company's listing as the first operating African company on the New York Stock Exchange. He became Executive President of Anglo Ashanti Ltd (world second largest gold producer at the time) in May 2004 when Ashanti merged with AngloGold Limted.
In June 2003, Jonah became the first Ghanaian to be knighted in the 21st century when he was presented with an honorary knighthood by the Prince of Wales, in recognition of his achievements as an African businessman, a leading business executive from the Commonwealth, and an international public figure. In his long career he has successfully served on many boards, including the board of Vodaphone UK and the advisory board of Bank of America. Sir Jonah is the Chairman of Helios Towers that IPO in October 2019 for $1.8B.
The Company's board of directors has approved the granting of 3,500,000 incentive stock options pursuant to the Company's Stock Option Plan to recently appointed Sir Samuel Jonah subject to approval. The options are exercisable at a price of $0.12 per share for a period of five (5) years from issuance.
Roscan Gold Corporation is a well-financed Canadian gold exploration company focused on the exploration and acquisition 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 (PhD, P.Eng, FAusIMM)
Executive Vice President - Corporate Development and Investor Relations
Tel: (902) 832-5555
Tel: (902) 832-5555
Forward Looking Statements
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 words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such 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 regulatory or governmental approvals, and other risks involved in the mineral exploration 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.
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