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Scorpio Announces Equity Issuances
Newsfileยท2025-07-25 10:30

Core Points - Scorpio Gold Corporation has granted equity awards including stock options and restricted share units to its consultants and employees, totaling 8,600,000 options and 7,930,000 RSUs [1][2][3] Group 1: Equity Award Grants - The company granted 8,600,000 stock options exercisable at $0.25 for five years, vesting in four equal tranches from January 25, 2026, to July 25, 2027 [1] - Additionally, 180,000 RSUs will vest in three equal tranches from July 25, 2026, to July 25, 2028, and 7,750,000 RSUs will vest in four equal tranches from July 25, 2026, to July 25, 2029 [1] Group 2: Related Party Transactions - Out of the total grants, 5,350,000 options and 7,750,000 RSUs were awarded to officers and directors, classified as related party transactions under MI 61-101 [2] - These grants were exempt from formal valuation and minority shareholder approval requirements as the fair market value did not exceed 25% of the company's market capitalization [2] Group 3: Equity Incentive Plan - The company is authorized to grant a total of 22,333,242 options and 9,000,000 RSUs under its equity incentive plan, with 16,215,550 options and 8,830,000 RSUs now outstanding following the recent grants [3] Group 4: Company Overview - Scorpio Gold holds a 100% interest in two past producing projects, the Manhattan District and the Mineral Ridge Mine, located in Nevada, USA [4] - The Manhattan District encompasses approximately 4,780 hectares and includes the advanced exploration-stage Goldwedge Mine, which has a maximum capacity of 400 tons per day [4] - The district presents significant resource potential with over 100,000 meters of historical drilling and valuable permitting and water rights [4]