Welcome to our dedicated page for Scorpio Gold news (Ticker: SRCRF), a resource for investors and traders seeking the latest updates and insights on Scorpio Gold stock.
Scorpio Gold Corp. reports gold exploration and capital-structure developments tied to its Manhattan District Project in Nevada. Company news centers on diamond-drill assay results, step-out drilling, and mineralization along areas such as Goldwedge, Black Mammoth, the Zanzibar Trend, the Gap Zone, Stray Dog, the Reliance Trend, and Iron Queen.
Updates describe gold intercepts hosted in volcanic and sedimentary units, including targets within the Manhattan Caldera and related district-scale trends. Scorpio Gold also reports financing-related items such as warrant exercises, warrant expiries, treasury changes, and the use of proceeds for drilling, technical studies, and general corporate purposes.
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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.