Scorpio Gold Completes Sale of Mineral Ridge Project
Scorpio Gold (OTCQB: SRCRF) has completed the sale of its Mineral Ridge Gold subsidiary and project in Esmeralda County, Nevada, to an undisclosed purchaser for US$7.5 million. The transaction structure includes: US$5 million upfront payment, US$1.5 million in escrow to be released in two equal installments (November 2025 and May 2026), and a final payment of US$1 million due August 2026.
The deal includes the transfer of reclamation bond obligations to the purchaser, while Scorpio retained certain project assets through its subsidiary. The company plans to use the proceeds to advance its flagship Manhattan District project, with CEO Zayn Kalyan highlighting the transaction's strategic importance in strengthening the company's balance sheet and eliminating ongoing holding costs.
[ "Non-dilutive cash injection of US$7.5 million strengthens balance sheet", "Elimination of ongoing holding costs associated with Mineral Ridge project", "Strategic focus on flagship Manhattan District project", "Transfer of reclamation bond obligations to the purchaser reduces liabilities" ]Scorpio Gold (OTCQB: SRCRF) ha completato la cessione della sua controllata Mineral Ridge Gold e del relativo progetto nella Contea di Esmeralda, Nevada, a un acquirente non divulgato per US$7,5 milioni. La struttura dell'operazione prevede: un pagamento iniziale di US$5 milioni, US$1,5 milioni in escrow che saranno rilasciati in due rate uguali (novembre 2025 e maggio 2026) e un pagamento finale di US$1 milione previsto per agosto 2026.
L'accordo trasferisce all'acquirente gli obblighi relativi alle cauzioni di bonifica, mentre Scorpio ha mantenuto alcuni asset del progetto tramite la sua controllata. La societ脿 intende utilizzare i proventi per portare avanti il suo progetto di punta Manhattan District; l'amministratore delegato Zayn Kalyan ha sottolineato l'importanza strategica dell'operazione nel rafforzare il bilancio e nell'eliminare i costi di mantenimento ricorrenti.
- Iniezione di liquidit脿 non diluitiva di US$7,5 milioni che rafforza il bilancio
- Eliminazione dei costi di mantenimento continui legati al progetto Mineral Ridge
- Focalizzazione strategica sul progetto principale Manhattan District
- Trasferimento degli obblighi di cauzione di bonifica riduce le passivit脿
Scorpio Gold (OTCQB: SRCRF) ha completado la venta de su filial Mineral Ridge Gold y del proyecto en el Condado de Esmeralda, Nevada, a un comprador no revelado por US$7,5 millones. La estructura de la transacci贸n incluye: un pago inicial de US$5 millones, US$1,5 millones en dep贸sito en garant铆a que se liberar谩n en dos cuotas iguales (noviembre de 2025 y mayo de 2026) y un pago final de US$1 mill贸n previsto para agosto de 2026.
El acuerdo contempla la transferencia de las obligaciones de los bonos de restauraci贸n al comprador, mientras que Scorpio retuvo ciertos activos del proyecto a trav茅s de su filial. La compa帽铆a planea usar los ingresos para avanzar su proyecto emblem谩tico Manhattan District; el CEO Zayn Kalyan destac贸 la importancia estrat茅gica de la operaci贸n para fortalecer el balance y eliminar los costos de mantenimiento continuos.
- Inyecci贸n de efectivo no dilutiva de US$7,5 millones que fortalece el balance
- Eliminaci贸n de los costos de mantenimiento continuos asociados al proyecto Mineral Ridge
- Enfoque estrat茅gico en el proyecto emblem谩tico Manhattan District
- La transferencia de las obligaciones de los bonos de restauraci贸n al comprador reduce pasivos
Scorpio Gold (OTCQB: SRCRF)電� 雱る皵雼れ＜ 鞐愳姢氅旊瀯雼� 旃挫毚韹办潣 鞛愴殞靷� Mineral Ridge Gold鞕� 頂勲鞝濏姼毳� 鞚胳垬鞛愲ゼ 氚濏瀳歆� 鞎婌潃 靸來儨搿� 氙疙檾 750毵� 雼煬鞐� 毵り皝鞚� 鞕勲頄堨姷雼堧嫟. 瓯半灅 甑“電� 靹犾旮夑笀 氙疙檾 500毵� 雼煬, 霊� 氩堨潣 霃欖澕 攵勴暊搿� 歆�旮夒悩電� 氙疙檾 150毵� 雼煬鞚� 鞐愳姢韥(2025雲� 11鞗� 氚� 2026雲� 5鞗�), 攴鸽Μ瓿� 2026雲� 8鞗� 毵岅赴鞚� 斓滌 歆�旮夓暋 氙疙檾 100毵� 雼煬毳� 韽暔頃╇媹雼�.
鞚措矆 瓯半灅電� 氤奠洂 氤挫旮� 鞚橂毳� 鞚胳垬鞛愳棎瓴� 鞚挫爠頃橂姅 頃滍幐, Scorpio電� 鞛愴殞靷ゼ 韱淀暣 韸轨爼 頂勲鞝濏姼 鞛愳偘鞚� 氤挫湢頃� 靸來儨搿� 雮波霋�鞀惦媹雼�. 須岇偓電� 鞛愱笀鞚� 欤茧牓 頂勲鞝濏姼鞚� Manhattan District鞚� 於旍鞐� 靷毄頃� 瓿勴殟鞚措┌, CEO Zayn Kalyan鞚� 鞚措矆 瓯半灅臧� 鞛甑“毳� 臧曧檾頃橁碃 歆�靻嶌爜鞚� 鞙犾牍勳毄鞚� 鞝滉卑頃橂姅 雿� 鞝勲灥鞝侅溂搿� 欷戩殧頃橂嫟瓿� 臧曥“頄堨姷雼堧嫟.
- 頋劃 鞐嗠姅 順勱笀 鞙犾瀰 氙疙檾 750毵� 雼煬搿� 鞛甑“ 臧曧檾
- Mineral Ridge 頂勲鞝濏姼 甏�霠� 歆�靻嶌爜 鞙犾牍勳毄 鞝滉卑
- 欤茧牓 頂勲鞝濏姼 Manhattan District鞐� 雽�頃� 鞝勲灥鞝� 歆戩
- 氤奠洂 氤挫旮� 鞚橂鞚� 鞚胳垬鞛� 鞚挫爠鞙茧 攵�毂� 臧愳唽
Scorpio Gold (OTCQB: SRCRF) a finalis茅 la vente de sa filiale Mineral Ridge Gold et du projet situ茅 dans le comt茅 d'Esmeralda, Nevada, 脿 un acheteur non divulgu茅 pour 7,5 M$ US. La structure de la transaction comprend : un paiement initial de 5 M$ US, 1,5 M$ US en s茅questre qui seront lib茅r茅s en deux versements 茅gaux (novembre 2025 et mai 2026), et un paiement final de 1 M$ US d没 en ao没t 2026.
L'accord inclut le transfert des obligations li茅es aux cautions de remise en 茅tat 脿 l'acheteur, tandis que Scorpio a conserv茅 certains actifs du projet via sa filiale. La soci茅t茅 pr茅voit d'utiliser les produits pour faire progresser son projet phare Manhattan District ; le PDG Zayn Kalyan a soulign茅 l'importance strat茅gique de l'op茅ration pour renforcer le bilan et 茅liminer les co没ts de d茅tention r茅currents.
- Apport de liquidit茅s non dilutif de 7,5 M$ US renfor莽ant le bilan
- 脡limination des co没ts de d茅tention r茅currents associ茅s au projet Mineral Ridge
- Concentration strat茅gique sur le projet phare Manhattan District
- Transfert des obligations de caution de remise en 茅tat 脿 l'acheteur r茅duisant les passifs
Scorpio Gold (OTCQB: SRCRF) hat den Verkauf seiner Tochtergesellschaft Mineral Ridge Gold und des Projekts im Esmeralda County, Nevada, an einen nicht genannten K盲ufer f眉r US$7,5 Millionen abgeschlossen. Die Transaktionsstruktur umfasst: eine Vorauszahlung von US$5 Millionen, US$1,5 Millionen in Treuhand, die in zwei gleichen Raten freigegeben werden (November 2025 und Mai 2026), sowie eine Schlusszahlung von US$1 Million f盲llig im August 2026.
Der Deal sieht die 脺bertragung der Verpflichtungen aus Rekultivierungsb眉rgschaften auf den K盲ufer vor, w盲hrend Scorpio 眉ber seine Tochtergesellschaft bestimmte Projektverm枚gen behalten hat. Das Unternehmen plant, die Erl枚se zur Weiterentwicklung seines Flaggschiff-Projekts Manhattan District zu verwenden; CEO Zayn Kalyan hob die strategische Bedeutung der Transaktion zur St盲rkung der Bilanz und zur Beseitigung laufender Haltekosten hervor.
- Nicht verw盲ssernde Kapitaleinlage von US$7,5 Millionen st盲rkt die Bilanz
- Wegfall laufender Haltekosten f眉r das Mineral Ridge-Projekt
- Strategische Konzentration auf das Flaggschiff-Projekt Manhattan District
- 脺bertragung der Rekultivierungsb眉rgschaften an den K盲ufer reduziert Verbindlichkeiten
- None.
- Divestment of significant mining asset from company portfolio
- Deferred payment structure with US$2.5 million subject to future payment dates
Vancouver, British Columbia--(Newsfile Corp. - August 25, 2025) - Scorpio Gold Corporation (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) ("Scorpio Gold", or the "Company") is pleased to announce that its wholly-owned subsidiary, Scorpio Gold (US) Corporation ("Scorpio US"), has completed its sale of Mineral Ridge Gold, LLC ("MRG"), a wholly-owned subsidiary of Scorpio US, to an arm's length third party (the "Purchaser").
Under the terms of the Agreement, the Purchaser acquired all membership interests in MRG, along with the related unpatented mining claims comprising MRG's Mineral Ridge project located in Esmeralda County, Nevada (the "Project"), for an aggregate cash purchase price of US
"The successful closing of the Mineral Ridge sale marks a pivotal milestone for Scorpio Gold. By divesting this non-core asset, we have significantly strengthened our balance sheet, eliminated ongoing holding costs, and secured meaningful, non-dilutive capital to advance our flagship Manhattan District project. With a stronger financial foundation and a focused strategy, we are well positioned to unlock the full potential of what we believe is one of Nevada's most exciting, underexplored gold districts," said Zayn Kalyan, CEO of Scorpio Gold.
About Scorpio Gold Corp.
Scorpio Gold holds a
ON BEHALF OF THE BOARD OF SCORPIO GOLD CORPORATION,
Zayn Kalyan, Chief Executive Officer and Director
Tel: (604)-252-2672
Email: [email protected]
Investor Relations Contact:
Kin Communications Inc.
Tel: (604) 684-6730
Email: [email protected]
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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 release of funds retained in escrow as an indemnification holdback; the payment of the final tranche of consideration by the Purchaser; closing marking a pivotal milestone for the Company; the Company's plan to use the proceeds from the sale to advance its flagship Manhattan District project; the Company having a stronger financial foundation and focused strategy and being well positioned to unlock the full potential of what the Company believes is one of Nevada's most exciting underexplored gold districts. 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 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.
Neither the TSX Venture 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.
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FAQ
How much did Scorpio Gold (SRCRF) sell its Mineral Ridge project for?
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What assets did Scorpio Gold retain from the Mineral Ridge sale?
