BULLETIN V2024-0754
SCORPIO GOLD CORPORATION ("SGN")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: March 8, 2024
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation the Amalgamation Agreement dated January 17, 2024 ("Agreement") between the Company, its subsidiary ("Subco") and an arm's length entity ("Target"). Pursuant to the terms of the Agreement, the Company issued an aggregate of 22,839,611 common shares of the Company in exchange for all the issued and outstanding shares of the Target. Subco effectively carried out an amalgamation with the Target to form Scorpio Gold B.C. Holding Corp. ("Amalco"), and became a wholly-owned subsidiary of the Company ("Transaction"). As a result of the Transaction, Amalco now holds the option to acquire a 90% interest in the Northstar property in Esmeralda county, Nevada. In connection with the Transaction, certain individuals resigned from the Company's board of directors (the "Board"), and former directors of the Target have been appointed to the Board. The Target has also been granted the right to appoint a new CEO the Company.
For further details, please refer to the Company's news releases dated May 25, 2023, August 16, 2023, November 8, 2023, January 18, 2024, and February 23, 2024.
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