On March 6, 2019, Scorpio Gold Corporation (“Scorpio Gold”) announced that it had completed a buyout transaction (the “Buyout”), as a result of which, among other things, Scorpio Gold’s senior secured debt owing to an affiliate of Waterton Global Resource Management, Inc. in the amount of US$6,103,562 has been extinguished, and Scorpio Gold acquired the remaining 30% membership interest of Elevon LLC in the Mineral Ridge gold project, resulting in Scorpio Gold owning a 100% of the Mineral Ridge gold project. Scorpio Gold received funding to complete the Buyout pursuant to a US$3 million debt bridge financing.
Scorpio Gold is a Canadian-based gold producer with a 100% interest in the Mineral Ridge gold project located in Esmeralda County, Nevada and a 100% interest in the advanced exploration-stage Goldwedge property in Manhattan, Nevada.
Further details regarding Scorpio Gold and the Buyout and can be found on Scorpio Gold’s website. Scorpio Gold trades under the symbol “SGN” on the TSX Venture Exchange.