STOCK TITAN

Scorpio Gold (OTCQB: SRCRF) closes upsized C$10.8M best efforts share offering

(Neutral)
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Scorpio Gold Corporation completed an upsized best efforts public equity offering of 43,200,000 common shares at C$0.25 per share for aggregate gross proceeds of C$10,800,000. The financing followed an initial plan for up to 32,000,000 shares (C$8,000,000), later increased to up to 40,000,000 shares (C$10,000,000).

The company paid the agents an aggregate cash commission of $613,500 and issued 2,454,000 non-transferable broker warrants, each exercisable at $0.25 per share for 24 months. Net proceeds are allocated to exploration activities at the Manhattan Property in Nevada and to general corporate and working capital purposes. The offering was conducted via a Canadian base shelf prospectus and prospectus supplement and remains subject to final TSX Venture Exchange acceptance.

Positive

  • None.

Negative

  • None.

Filing Explained

43.2 million shares are already issued, with 2.454 million broker warrants potentially adding shares over 24 months; TSXV acceptance remains pending.

This Form 6-K, an interim report for a foreign private issuer, reports that Scorpio Gold closed its public offering on July 23, 2026, but final TSX Venture Exchange acceptance remains outstanding.

The company issued C$10.8 million of shares, or 43,200,000 common shares, so the completed issuance increases the share count and reduces existing holders’ percentage ownership absent offsetting changes.

The agents also received 2,454,000 broker warrants, each exercisable for one additional common share at C$0.25 for 24 months; exercise would create further shares and dilution, but the filing does not report that the warrants have been exercised.

The remaining status item is final TSXV acceptance, which is the specific milestone that would resolve the offering’s stated completion condition.

Final gross proceeds C$10,800,000 Aggregate gross proceeds from the July 23, 2026 public offering
Shares issued in offering 43,200,000 shares Total Offered Shares issued, including 3,200,000 from partial over-allotment exercise
Offering price C$0.25 per common share Price per Offered Share in the July 23, 2026 public offering
Initial targeted proceeds up to $8,000,000 Gross proceeds targeted in the July 15, 2026 marketed public offering
Upsized targeted proceeds up to $10,000,000 Revised maximum gross proceeds under the July 16, 2026 upsized terms
Agents’ cash commission $613,500 Aggregate cash commission paid to the agents for the offering
Broker Warrants issued 2,454,000 warrants Non-transferable broker warrants issued to agents, each exercisable at $0.25 for 24 months
best efforts financial
"previously announced "best efforts" public offering (the "Offering")"
A contractual promise to make a genuine, diligent effort to achieve a specified result without guaranteeing the outcome. For investors, it means a counterparty (for example, an underwriter or service provider) must work hard to deliver an outcome but is not legally required to produce a specific result, so the investor retains some risk; think of it like hiring someone to try their hardest to sell your house rather than promising they will sell it.
base shelf prospectus regulatory
"short form base shelf prospectus dated July 6, 2026 (the "Base Shelf Prospectus")"
A base shelf prospectus is a pre-approved regulatory document that lets a company register a range of securities once and then sell them to the public over time without repeating the full approval process for each offering. For investors it’s like a menu and standing permission slip: it lays out the types of securities, key risks and terms ahead of any specific sale, so buyers can assess potential dilution, timing and the company’s plans before new shares or debt hit the market.
Prospectus Supplement regulatory
"offered by way of a prospectus supplement (the "Prospectus Supplement") filed in all"
A prospectus supplement is an additional document provided alongside a company's main offering details, offering updated or extra information about a specific financial product being sold. It helps investors understand the latest terms, risks, and details of the investment, similar to how an update or revision clarifies or expands on original instructions, ensuring they have current and complete information before making a decision.
over-allotment option financial
"3,200,000 Offered Shares issued pursuant to the partial exercise of the Agents’ over-allotment option"
An over-allotment option is a special agreement that allows underwriters to sell more shares than initially planned if demand is high. Think of it like a retailer offering extra units of a popular product to meet additional customer interest. This option helps ensure the full sale is completed and can also give investors extra shares if they want more.
broker warrants financial
"Agents were also issued an aggregate of 2,454,000 non-transferable broker warrants"
Broker warrants are short-term coupons given to underwriters or brokers during a share sale that let them buy company stock at a fixed price before a set date. They matter to investors because exercising those coupons can increase the number of shares outstanding, diluting existing holdings, and they create potential future selling pressure or upside depending on whether the exercise price is attractive—like a temporary option to buy at a discount.
Material Change Report regulatory
"Form 51-102F3 Material Change Report Scorpio Gold Corporation"
A material change report is a public notice that a company must file and share whenever new information or an event is significant enough to likely influence an investor’s decision. Think of it like an urgent update board that tells shareholders about big shifts—such as major deals, leadership changes, sudden losses, or legal issues—so investors can reassess risk and value with the same facts everyone else has.

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FAQ

What equity financing did Scorpio Gold (SRCRF) complete in July 2026?

Scorpio Gold completed a best efforts public offering raising C$10,800,000 in gross proceeds. The company issued 43,200,000 common shares at C$0.25 per share, following earlier announcements of smaller targeted amounts that were subsequently upsized.

How many shares did Scorpio Gold (SRCRF) issue and at what price?

Scorpio Gold issued 43,200,000 Offered Shares at a price of C$0.25 per share. This total includes 3,200,000 shares issued through a partial exercise of the agents’ over-allotment option in connection with the upsized July 23, 2026 public offering.

What are the total gross proceeds from Scorpio Gold’s July 2026 offering?

The July 23, 2026 public offering generated aggregate gross proceeds of C$10,800,000. This reflects common shares sold at C$0.25 each, including shares issued under a partial exercise of the agents’ over-allotment option as described in the material change report.

How will Scorpio Gold (SRCRF) use the proceeds from the share offering?

Scorpio Gold plans to use the net proceeds to fund exploration at its Manhattan Property and for general corporate and working capital purposes. These use-of-proceeds statements are repeated across the offering press releases and the Canadian material change report.

What compensation did the agents receive in Scorpio Gold’s financing?

The agents received an aggregate cash commission of $613,500 plus 2,454,000 non-transferable broker warrants. Each broker warrant allows the holder to acquire one common share at $0.25 for 24 months from issuance, providing additional equity-linked compensation.

What role did over-allotment options play in the Scorpio Gold offering?

Scorpio Gold granted agents an over-allotment option, leading to 3,200,000 additional shares being issued on a partial exercise. Earlier terms contemplated options for up to 4,800,000 and later 6,000,000 shares, supporting market stabilization and covering potential over-allotments.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 6-K

 

 

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16

OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of July 2026

 

Commission File Number: 333-297311

 

 

 

SCORPIO GOLD CORP.

(Registrant)

 

 

 

Suite 750, 1095 West Pender Street

Vancouver, British Columbia, Canada V6E 2M6

(Address of Principal Executive Offices)

 

 

Indicate by check mark whether the Registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F  ☐            Form 40-F  ☒

 

 

   

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

             
        SCORPIO GOLD CORP.
        (Registrant)
       
Date July 24, 2026       By  

/s/ Zayn Kalyan

            Zayn Kalyan
            Chief Executive Officer, President and Director

 

 

 

 

 

 

 

 

 

 

 

 2 

 

 

EXHIBIT INDEX

 

 

Exhibit

  Description of Exhibit
   
99.1   Press Release dated July 15, 2026 – Scorpio Gold Corporation Announces Marketed Public Offering for Gross Proceeds of up to $8 Million
     
99.2   Press Release dated July 16, 2026 – Scorpio Gold Corporation Announces Upsizing of Previously Announced Public Offering to $10 Million
     
99.3   Press Release dated July 23, 2026 – Scorpio Gold Announces Closing of Public Offering for Gross Proceeds of $10,800,000
     
99.4   Material Change Report dated July 23, 2026

 

 

 

 

 

 

 

 

 

 3 

 

Exhibit 99.1

 

Not for distribution to United States newswire services or for dissemination in the United States.

 

BASE SHELF PROSPECTUS IS ACCESSIBLE, AND THE PROSPECTUS SUPPLEMENT WILL BE ACCESSIBLE WITHIN TWO BUSINESS DAYS, ON SEDAR+

 

Scorpio Gold Corporation Announces Marketed Public Offering for Gross Proceeds of up to $8 Million

 

Vancouver, British Columbia – July 15, 2026 – Scorpio Gold Corporation (TSXV:SGN, OTCQB:SRCRF, FSE: RY9) (“Scorpio Gold” or the “Company”) is pleased to announce that it has entered into an agreement with Velocity Trade Capital Ltd. (“Velocity”) acting as lead agent and sole bookrunner, on behalf of a syndicate of agents (collectively, the “Agents”), pursuant to which the Agents have agreed to offer, on a “best efforts” basis, up to 32,000,000 common shares (the “Offered Shares”) from the treasury of the Company, at a price of $0.25 per Offered Share for total gross proceeds of up to $8,000,000 (the “Offering”).

 

In addition, the Company will grant the Agents an option (the “Agents’ Option”) to purchase up to an additional 4,800,000 Offered Shares on the same terms exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any.

 

The net proceeds of the Offering will be used to fund exploration activities at the Company's Manhattan Property and for general corporate and working capital purposes.

 

The Offering is expected to close on or about July 23, 2026, or such other date as the Company and the Agents may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the TSX Venture Exchange (the “TSXV”).

 

The Offered Shares to be issued under the Offering will be offered by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s existing short form base shelf prospectus dated July 6, 2026 (the “Base Shelf Prospectus”), to be filed in all of the provinces of Canada (other than the province of Québec) and some may be sold in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in compliance with applicable state blue-sky laws, and in such other jurisdictions outside of Canada and the United States as agreed to by the Company, in each case in accordance with all applicable laws and provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction. Access to the Prospectus Supplement, the Base Shelf Prospectus and any amendment to the documents is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The Base Shelf Prospectus is, and the Prospectus Supplement will be (within two business days from the date hereof), accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Prospectus Supplement, the Base Shelf Prospectus, and any amendment to such documents, may be obtained without charge from Velocity, 100 Yonge Street, Suite 1800, Toronto, Ontario M5C 2W1, by telephone at (416) 323-2164 or by email at syndication@velocitytradecapital.com by providing the contact with an email address or address, as applicable. The Base Shelf Prospectus and the Prospectus Supplement contain important, detailed information about the Company and the proposed Offering.  Prospective investors should read the Base Shelf Prospectus and the Prospectus Supplement (when filed) before making an investment decision.

 

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.

 

 

 

 1 

 

 

About Scorpio Gold Corp.

 

Scorpio Gold holds a 100% interest in the Manhattan District located in the Walker Lane Trend of Nevada, USA. Scorpio Gold’s Manhattan District is ~4,780-hectares and comprises the advanced exploration-stage Goldwedge Mine, with a 400 ton per day maximum capacity gravity mill, and four past-producing pits that were acquired from Kinross in 2021 (see news release dated March 25, 2021 https://scorpiogold.com/news/scorpio-gold-closes-purchase-of-kinross-manhattan-property-nye-county-nevada/). The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 140,000 metres of historical drilling, significant resource potential, and valuable permitting and water rights.

 

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

 

FORWARD-LOOKING STATEMENTS:

 

This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, the anticipated terms of the Offering, including, but not limited to, the Agents’ Option, the closing date of the Offering, the use of the net proceeds of the Offering, the conditions to the closing of the Offering, including acceptance by the TSXV, the filing of a prospectus supplement with respect to the Offering, the offering jurisdictions of the Offering, and other statements that contain words such as “believe,” “expect,” “project,” “should,” “seek,” “anticipate,” “will,” “intend,” “positioned,” “risk,” “plan,” “may,” “estimate” or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein.

 

A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements made in this news release, including, but not limited to, the risk that terms and closing of the Offering will not be as anticipated, including, but not limited to, that the Agents’ Option, the closing date of the Offering, the use of the net proceeds of the Offering, the conditions to the closing of the Offering, including acceptance by the TSXV, the filing of a prospectus supplement with respect to the Offering, the offering jurisdictions of the Offering, and the position of Scorpio Gold will not be as anticipated. A more complete discussion of the risks and uncertainties facing the Company is disclosed under the heading “Risk Factors” in the Company’s most recent annual information form, as well as the Company’s other continuous disclosure filings with Canadian securities regulatory authorities available at www.sedarplus.ca.

 

Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release and the Company disclaims any intention or obligation to update or revise any forward-looking information contained in this new release, whether as a result of new information, future events or otherwise, unless required by applicable law. The forward-looking information included in this new release is expressly qualified in its entirety by this cautionary statement.

 

ON BEHALF OF THE BOARD OF SCORPIO GOLD CORPORATION

Zayn Kalyan, Chief Executive Officer and Director

Tel: (604)-252-2672

Email: zayn@scorpiogold.com

 

 

 

 

 2 

 

Exhibit 99.2

 

 

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

 

Scorpio Gold Corporation Announces Upsizing of Previously Announced Public Offering to $10 Million

 

Vancouver, British Columbia – July 16, 2026 – Scorpio Gold Corporation (TSXV:SGN, OTCQB:SRCRF, FSE: RY9) (“Scorpio Gold” or the “Company”) is pleased to announce that as a result of strong investor demand, the Company has amended its agreement with Velocity Trade Capital Ltd. ("Velocity") to increase the size of its previously announced "best efforts" public offering (the "Offering”). The Offering is being conducted by Velocity, as sole bookrunner, and Raymond James Ltd., as co-lead agents together with Velocity (together, the "Agents").

 

Pursuant to the upsized deal terms, the Agents have agreed to offer, on a "best efforts" basis, up to 40,000,000 common shares (the “Offered Shares”) from the treasury of the Company at a price of $0.25 per Offered Share for aggregate gross proceeds of up to $10,000,000.

 

The Company will grant the Agents an option (the “Agents’ Option”) to purchase up to an additional 6,000,000 Offered Shares on the same terms exercisable at any time up to 30 days following the closing of the Offering, for market stabilization purposes and to cover over-allotments, if any.

 

The net proceeds of the Offering will be used to fund exploration activities at the Company's Manhattan Property and for general corporate and working capital purposes.

 

The Offering is expected to close on or about July 23, 2026, or such other date as the Company and the Agents may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the TSX Venture Exchange (the “TSXV”).

 

The Offered Shares to be issued under the Offering will be offered by way of a prospectus supplement (the “Prospectus Supplement”) to the Company’s existing short form base shelf prospectus dated July 6, 2026 (the “Base Shelf Prospectus”), to be filed in all of the provinces of Canada (other than the province of Québec) and some may be sold in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in compliance with applicable state blue-sky laws, and in such other jurisdictions outside of Canada and the United States as agreed to by the Company, in each case in accordance with all applicable laws and provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction. Access to the Prospectus Supplement, the Base Shelf Prospectus and any amendment to the documents is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The Base Shelf Prospectus is, and the Prospectus Supplement will be, accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Prospectus Supplement, the Base Shelf Prospectus, and any amendment to such documents, may be obtained without charge from Velocity, 100 Yonge Street, Suite 1800, Toronto, Ontario M5C 2W1, by telephone at (416) 323-2164 or by email at syndication@velocitytradecapital.com by providing the contact with an email address or address, as applicable. The Base Shelf Prospectus and the Prospectus Supplement contain important, detailed information about the Company and the proposed Offering. Prospective investors should read the Base Shelf Prospectus and the Prospectus Supplement (when filed) before making an investment decision.

 

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This press release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.

 

 

 

 1 

 

 

About Scorpio Gold Corp.

 

Scorpio Gold holds a 100% interest in the Manhattan District located in the Walker Lane Trend of Nevada, USA. Scorpio Gold’s Manhattan District is ~4,780-hectares and comprises the advanced exploration-stage Goldwedge Mine, with a 400 ton per day maximum capacity gravity mill, and four past-producing pits that were acquired from Kinross in 2021 (see news release dated March 25, 2021 https://scorpiogold.com/news/scorpio-gold-closes-purchase-of-kinross-manhattan-property-nye-county-nevada/). The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 140,000 metres of historical drilling, significant resource potential, and valuable permitting and water rights.

 

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

 

FORWARD-LOOKING STATEMENTS:

 

This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, the anticipated terms of the Offering, including, but not limited to, the Agents’ Option, the closing date of the Offering, the use of the net proceeds of the Offering, the conditions to the closing of the Offering, including acceptance by the TSXV, the filing of a prospectus supplement with respect to the Offering, the offering jurisdictions of the Offering, and other statements that contain words such as “believe,” “expect,” “project,” “should,” “seek,” “anticipate,” “will,” “intend,” “positioned,” “risk,” “plan,” “may,” “estimate” or, in each case, their negative and words of similar meaning. By its nature, forward-looking information involves a number of risks, uncertainties and assumptions that could cause actual results or events to differ materially from those expressed or implied by the forward-looking information. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein.

 

A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements made in this news release, including, but not limited to, the risk that terms and closing of the Offering will not be as anticipated, including, but not limited to, that the Agents’ Option, the closing date of the Offering, the use of the net proceeds of the Offering, the conditions to the closing of the Offering, including acceptance by the TSXV, the filing of a prospectus supplement with respect to the Offering, the offering jurisdictions of the Offering, and the position of Scorpio Gold will not be as anticipated. A more complete discussion of the risks and uncertainties facing the Company is disclosed under the heading “Risk Factors” in the Company’s most recent annual information form, as well as the Company’s other continuous disclosure filings with Canadian securities regulatory authorities available at www.sedarplus.ca.

 

Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release and the Company disclaims any intention or obligation to update or revise any forward-looking information contained in this new release, whether as a result of new information, future events or otherwise, unless required by applicable law. The forward-looking information included in this new release is expressly qualified in its entirety by this cautionary statement.

 

ON BEHALF OF THE BOARD OF SCORPIO GOLD CORPORATION

 

Zayn Kalyan, Chief Executive Officer and Director

Tel: (604)-252-2672

Email: zayn@scorpiogold.com

 

 

 

 2 

 

 

Exhibit 99.3

 

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

 

Scorpio Gold Announces Closing of Public Offering for Gross Proceeds of $10,800,000

 

Vancouver, British Columbia, July 23, 2026 Scorpio Gold Corporation (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) (the “Company” or “Scorpio Gold”) is pleased to announce the closing of its previously announced upsized “best efforts” public offering (the “Offering”) of common shares of the Company (the “Offered Shares”) at a price of $0.25 per Offered Share for aggregate gross proceeds of $10,800,000. Velocity Capital Partners, as sole bookrunner, and Raymond James Ltd. (collectively, the “Agents”) acted as co-lead agents in connection with the Offering.

 

Pursuant to the Offering, the Company issued a total of 43,200,000 Offered Shares, including 3,200,000 Offered Shares issued pursuant to the partial exercise of the Agents’ over-allotment option.

 

In consideration for the services provided by the Agents in connection with the Offering, the Company paid the Agents an aggregate cash commission of $613,500. As additional consideration, the Agents were also issued an aggregate of 2,454,000 non-transferable broker warrants (the “Broker Warrants”). Each Broker Warrant entitles the holder to acquire one common share of the Company at a price of $0.25 per share for a period of twenty-four (24) months from the date of issuance.

 

The net proceeds from the Offering will be used to fund exploration activities at the Company’s Manhattan Property and for general corporate and working capital purposes.

 

The Offered Shares were offered by way of a prospectus supplement (the “Prospectus Supplement”) filed in all of the provinces of Canada (other than the province of Québec) and dated July 17, 2026 that supplemented the Company’s short form base shelf prospectus dated July 6, 2026 (the “Base Shelf Prospectus”). The Offering remains subject to the final acceptance of the TSX Venture Exchange (the “TSXV”).

 

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended and such securities may not be offered or sold within the United States absent registration under U.S. federal and state securities laws or an applicable exemption from such U.S. registration requirements.

 

About Scorpio Gold Corporation

 

Scorpio Gold holds a 100% interest in the Manhattan District located in the Walker Lane Trend of Nevada, USA. Scorpio Gold’s Manhattan District is ~4,780-hectares and comprises the advanced exploration-stage Goldwedge Mine, with a 400 ton per day maximum capacity gravity mill, and four past-producing pits that were acquired from Kinross in 2021 (see news release dated March 25, 2021 https://scorpiogold.com/news/scorpio-gold-closes-purchase-of-kinross-manhattan-property-nye-county-nevada/). The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 140,000 metres of historical drilling, significant resource potential, and valuable permitting and water rights.

 

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

 

 

 

 

FORWARD-LOOKING STATEMENTS:

 

This news release includes information, statements, beliefs and opinions which are forward-looking, and which reflect current estimates, expectations and projections about future events, including, but not limited to, statements regarding: the intended use of the net proceeds of the Offering; final acceptance of the Offering by the TSXV; and the exploration potential, mineral resource potential and future development of the Company’s Manhattan District, including the Goldwedge Mine, and other statements that contain words such as “believe,” “expect,” “project,” “should,” “seek,” “anticipate,” “will,” “intend,” “positioned,” “risk,” “plan,” “may,” “estimate” or, in each case, their negative and words of similar meaning. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements made in this news release, including, but not limited to: the risk that the use of the net proceeds of the Offering will not be as anticipated; the risk that TSXV final acceptance may not be obtained; risks inherent to mineral exploration and development activities, including the uncertainty of resource estimates and exploration results; and fluctuations in gold and other commodity prices. A more complete discussion of the risks and uncertainties facing the Company is disclosed under the heading “Risk Factors” in the Company’s most recent annual information form, as well as the Company’s other continuous disclosure filings with Canadian securities regulatory authorities available at www.sedarplus.ca.

 

Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking information, which is based on the information available as of the date of this news release and the Company disclaims any intention or obligation to update or revise any forward-looking information contained in this news release, whether as a result of new information, future events or otherwise, unless required by applicable law. The forward-looking information included in this news release is expressly qualified in its entirety by this cautionary statement.

 

ON BEHALF OF THE BOARD OF SCORPIO GOLD CORPORATION

 

Zayn Kalyan, Chief Executive Officer and Director
Tel: (604)-252-2672
Email: zayn@scorpiogold.com

 

 

Exhibit 99.4

 

Form 51-102F3

 

Material Change Report

 

Item 1Name and Address of Company

 

Scorpio Gold Corporation (the “Company”)

Suite 750, 1095 West Pender Street

Vancouver, BC V6E 2M6

 

Item 2Date of Material Change

 

July 23, 2026

 

Item 3News Release

 

A news release with respect to the material change referred to in this report was issued by the Company through Newsfile Corp. and filed on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile on July 23, 2026.

 

Item 4Summary of Material Change

 

On July 23, 2026, the Company closed its previously announced “best efforts” public offering of common shares at a price of C$0.25 per common share for aggregate gross proceeds of C$10,800,000.

 

Item 5Full Description of Material Change

 

On July 23, 2026, the Company closed its previously announced “best efforts” public offering (the “Offering”) of common shares of the Company (the “Offered Shares”) at a price of C$0.25 per Offered Share for aggregate gross proceeds of C$10,800,000.

 

Velocity Capital Partners, as sole bookrunner, and Raymond James Ltd. (collectively, the “Agents”) acted as co-lead agents in connection with the Offering. Pursuant to the Offering, the Company issued a total of 43,200,000 Offered Shares, including 3,200,000 Offered Shares issued pursuant to the partial exercise of the Agents’ over-allotment option.

 

The Offered Shares were offered by way of a prospectus supplement (the “Prospectus Supplement”) filed in all of the provinces of Canada (other than the province of Québec) and dated July 17, 2026 that supplemented the Company’s short form base shelf prospectus dated July 6, 2026 (the “Base Shelf Prospectus”).

 

The net proceeds from the Offering will be used to fund exploration activities at the Company’s Manhattan Property and for general corporate and working capital purposes.

 

In consideration for the services provided by the Agents in connection with the Offering, the Company paid the Agents an aggregate cash commission of $613,500. As additional consideration, the Agents were also issued an aggregate of 2,454,000 non-transferable broker warrants (the “Broker Warrants”). Each Broker Warrant entitles the holder to acquire one common share of the Company at a price of $0.25 per share for a period of twenty-four (24) months from the date of issuance.

 

 

 

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Item 6Reliance on subsection 7.1(2) of National Instrument 51-102

 

Not Applicable

 

Item 7Omitted Information

 

Not Applicable

 

Item 8Executive Officer

 

Zayn Kalyan, Chief Executive Officer and Director

Scorpio Gold Corporation

Telephone: (604) 252-2672

 

Item 9Date of Report

 

July 23, 2026

 

 

Filing Exhibits & Attachments

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