Scorpio Gold Stock Price, News & Analysis

Scorpio Gold Corporation (TSX-V: SGN) has settled its final interest payment on US$7,015,000 convertible debentures by issuing 5,194,976 common shares at $0.085 each, approved by the TSX Venture Exchange. The debentures, maturing on April 26, 2022, have been settled with a total issuance of 87,687,500 common shares at US$0.08 per share. The total interest payment settled amounts to $441,573 (US$349,789).

Scorpio Gold Corporation has opted to settle its semi-annual interest payment of $441,424 on its US$7,125,000 secured subordinated convertible debentures by issuing 4,579,083 common shares at a price of $0.0964 per share. The company received approval from the TSX Venture Exchange to proceed with this settlement, which was announced on October 20, 2021 and executed on October 26, 2021. This move indicates a strategy of cash conservation amidst financial obligations.

Scorpio Gold Corporation has arranged a short-term credit facility of US$500,000 with its directors to sustain operations until the forthcoming Goldwedge assays are released. The funds will be drawn in advances, with a minimum of US$100,000. The credit is unsecured and interest-free, requiring repayment upon closing a private placement of over C$1,000,000 or by January 1, 2022. The Goldwedge drill program targets potential mineral resource continuity and is part of the broader exploration strategy, including connections with the nearby Manhattan Mine project.

Scorpio Gold Corporation has opted to settle its semi-annual interest payment on US$7,125,000 secured subordinated convertible debentures in common shares. The interest payment of C$441,424 (US$357,226) will be made on October 26, 2021, with a record date of October 19, 2021. The company plans to issue 4,581,401 common shares at an issue price of $0.0964 per share, subject to TSX Venture Exchange approval. This decision aims to manage cash flow while meeting debt obligations.

Scorpio Gold Corporation has regained 100% control of its Mineral Ridge Property in Nevada after Titan Mining Corporation terminated their earn-in option agreement. This 14,000-acre property has historically produced approximately 1 million ounces of gold and has known resources of 335,000 ounces of gold. The site is fully permitted but currently on care and maintenance. Titan Mining's lack of drilling results limits Scorpio's analysis of exploration targets identified during their tenure. Scorpio Gold also holds interests in the Goldwedge property, enhancing its position in the region.

Scorpio Gold Corporation has made a semi-annual interest payment of US$355,274 to its debentureholders, as confirmed on April 26, 2021. This payment is related to its US$7,125,000 secured subordinated convertible debentures, which have a maturity date of April 26, 2022, and an interest rate of 10% per annum payable semi-annually. Notably, the company opted to pay this interest in cash rather than shares.

Scorpio Gold Corporation (TSXV:SGN) announced on October 19, 2020, that it will settle its semi-annual interest payment of $471,000 (US$357,767) on its secured subordinated convertible debentures by issuing 2,616,666 common shares at a price of $0.18 per share. This decision follows the approval from the TSX Venture Exchange. The issuance of shares helps the company manage its cash flow while fulfilling its debt obligations.