Scorpio Gold arranges $8-million private placement

Executive Summary

• Scorpio Gold Corp. announced a non‑brokered private placement of up to 32 million common shares at C$0.25 per share, targeting gross proceeds of up to C$8 million.
• The entire offering is comprised of sole orders from two high‑profile investors: Ross Beaty (C$5 M) and Eric Sprott (C$3 M).
• Proceeds will be used to fund exploration and development at the Manhattan district project in Nevada and for general corporate purposes.

Key Details

• Offering size: Up to 32 million common shares.
• Price per share: C$0.25.
• Gross proceeds target: Up to C$8 million.
• Investor commitments:
• Ross Beaty – C$5 million subscription.
• Eric Sprott – C$3 million subscription.
• Closing timeline: Expected to close in a single tranche on or before September 2, 2025, subject to TSX Venture Exchange approval.
• Hold period: All securities will be subject to a four‑month hold period under Canadian securities law.
• Fees: No finders’ fees anticipated.
• Use of proceeds:
• Advance exploration and development activities at the Manhattan district project (Nevada).
• General corporate purposes.
• Project background: Scorpio Gold holds 100 % interest in the Manhattan district, a past‑producing gold project with a 400‑t/d gravity mill and four historic pits acquired from Kinross in 2021; over 100,000 m of historical drilling exist.

Notable Quotes

No executive quotes were included in the release.