Roscan Minerals Corporation
TSX VENTURE : ROS

October 04, 2012 16:30 ET

Roscan Announces Closing of Private Placement

TORONTO, ONTARIO--(Marketwire - Oct. 4, 2012) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO ANY U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES OF AMERICA.

Roscan Minerals Corporation (the "Company") (TSX VENTURE:ROS) announces that it has received notice from the TSX Venture Exchange ("TSXV") that effective the opening of trading on October 5, 2012 the Company's stock exchange listing will be transferred to the NEX board of the TSXV ("NEX") as a result of the Company not being able to evidence its ability to meet the Tier 2 Listing Requirements of the TSXV. The Company's common shares will trade under the symbol ROS.H.

There will be no change in the Company's name, no change in its CUSIP number and no consolidation of capital. The Company will be subject to restrictions on share issuances and certain types of payments as set out in the NEX policies. The Filing and Service Office will change from Toronto to NEX.

NEX is a separate board of the TSXV designed to provide a trading forum for publically listed companies while they assess their business plans, operations, and formulate a strategy to reactivate their businesses for future growth.

The Company continues to explore acquisitions and business opportunities and the transfer of its listing to the NEX will not materially impact its strategy. The Company wishes to thank its shareholders for their continued support and patience throughout this process.

This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to factors, many of which are beyond the Company's control that may cause actual results or performance to differ materially from those currently anticipated in such statements. Such forward-looking statements include comments regarding the private placement and use of funds.

Shares Outstanding: 28,299,573

Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Roscan Minerals Corporation
    Don Whalen
    Director
    (416) 293-8437
    (416) 293-3957 (FAX)

    Roscan Minerals Corporation
    Mark McMurdie
    CFO
    (416) 293-8437
    (416) 293-3957 (FAX)
    info@roscan.ca