Scorpio Gold Closes Upsized C$10.8M Offering at C$0.25/Share — 43.2M Shares Issued

summarizeSummary

Scorpio Gold closed an upsized C$10.8 million public offering, issuing 43.2 million shares at C$0.25 — a premium to the current market price. Proceeds will fund exploration and working capital.

check_boxKey Events · Financing and Capital Events · SRCRF

• Offering Closed at C$10.8M

  Scorpio Gold issued 43.2 million common shares at C$0.25 per share for gross proceeds of C$10.8 million, including 3.2 million shares from the partial over-allotment option.

• Upsized from Initial C$8M

  The offering was initially announced at C$8 million (32M shares), upsized to C$10 million (40M shares) due to strong demand, and ultimately closed at C$10.8 million.

• Priced at Premium to Market

  The C$0.25 offering price represents a ~38% premium to the current US$0.1811 share price (approx. C$0.18), indicating institutional confidence.

• Agent Compensation

  Agents received a C$613,500 cash commission and 2,454,000 broker warrants exercisable at C$0.25 for 24 months, adding potential future dilution.

auto_awesomeAnalysis · SRCRF · Energy & Transportation

Scorpio Gold closed a public offering that grew from an initial C$8M to C$10.8M, issuing 43.2 million shares at C$0.25 each. The offering price is a 38% premium to today's US$0.1811 (roughly C$0.25 vs. C$0.18), signaling institutional demand despite the dilutive impact. Proceeds fund exploration at the Manhattan Property and general working capital, extending the company's runway. The deal includes 2.45 million broker warrants with a C$0.25 strike, adding potential future dilution. This follows a C$70M shelf registration filed earlier this month, and the upsizing suggests stronger-than-expected investor appetite.