Scorpio Gold Announces Further Increase in Private Placement for Total of up to $6,000,000
Scorpio Gold Announces Further Increase in
Private Placement for Total of up to $6,000,000
Vancouver, British Columbia--(Newsfile Corp. - February 14, 2024) -
Scorpio Gold Corporation
(TSXV: SGN) ("
Scorpio Gold
" or the "
Company
") is pleased to announce that due to further investor
interest, it has increased the size of its non-brokered private placement described in the press releases
dated January 12, 2024 and January 30, 2024 ("
Private Placement
") by an additional $1,000,000, for
the issuance of an aggregate of up to 40,000,000 units of the Company at a price of $0.15 per unit for
gross proceeds to the Company of up to $6,000,000. Each unit is comprised of one common share of
the Company and one common share purchase warrant, with each warrant exercisable to acquire one
common share of the Company at an exercise price of $0.20 for a period of two years from the date of
issuance. To date, the Company has closed two tranches of the Private Placement, issuing an
aggregate of 9,584,966 units for aggregate gross proceeds of $1,437,745. The Private Placement
remains subject to the approval of the TSX Venture Exchange (the "
Exchange
").
The securities described herein have not been, and will not be, registered under the United States
Securities Act of 1933, as amended (the "
1933 Act
") or any state securities laws, and accordingly, may
not be offered or sold within the United States except in compliance with the registration requirements of
the 1933 Act and applicable state securities requirements or pursuant to exemptions therefrom. This
press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
ON BEHALF OF THE BOARD OF SCORPIO GOLD CORPORATION
Chris Zerga, CEO and President
Tel: (819) 825-7618
Email:
Neither the 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
The Company relies on litigation protection for forward-looking statements. This news release
contains forward-looking statements that are based on the Company's current expectations and
estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect",
"project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or
statements that certain events or conditions "may" or "will" occur, and include, without limitation,
statements regarding the terms and completion of the Private Placement. There is significant risk that
the forward-looking statements will not prove to be accurate, that the management's assumptions may
not be correct and that actual results may differ materially from such forward-looking statements. Such
forward-looking statements involve known and unknown risks, uncertainties and other factors that
could cause actual events or results to differ materially from estimated or anticipated events or results
implied or expressed in such forward-looking statements, including the inability to complete the
Private Placement, receipt of all regulatory approvals required for the Private Placement and related
transactions, and those risk factors outlined in the Company's Management Discussion and Analysis
as filed on SEDAR+. Any forward-looking statement speaks only as of the date on which it is made
and, except as may be required by applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement, whether as a result of new information, future
events or results or otherwise. Forward-looking statements are not guarantees of future performance
and accordingly undue reliance should not be put on such statements due to the inherent uncertainty
thereof.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/197961