Business
Scorpio Gold Receives Debt Extension
VANCOUVER, British Columbia, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) announces that the forebe
About this update from Scorpio Gold Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) announces that the forebearance agreement on its $6 million debt originally expiring on December 19, 2018 was extended to January 31, 2019. The Company is currently evaluating various business alternatives including a potential sale transaction, business combination, refinancing its long-term debt, raising financing through an equity financing or through other types of financing. About Scorpio Gold Scorpio Gold holds a 70% interest in the producing Mineral Ridge gold mining operation located in Esmeralda County, Nevada with joint venture partner Elevon, LLC (30%). Mineral Ridge is a conventional open pit mining and heap leach operation. Mining at Mineral Ridge was suspended in November 2017; however, the Company continues to generate limited revenues from residual but diminishing recoveries from the leach pads. Scorpio Gold also holds a 100% interest in the advanced exploration-stage Goldwedge property in Manhattan, Nevada with a fully permitted underground mine and 400 ton per day mill facility. The Goldwedge mill facility has been placed on a care and maintenance basis and can be restarted immediately when needed. ON BEHALF OF THE BOARDSCORPIO GOLD CORPORATION Brian Lock,Interim CEO For further information contact:Chris Zerga, PresidentTel: (604) 678-9639Email: [email protected] Website: www.scorpiogold.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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 restriction, any statements regarding a potential sale transaction, a business combination, refinancing of its long-term debt and equity or other types of financing. Such forward-looking statements invo...