Scorpio Gold Pays Interest to Debentureholders
VANCOUVER, British Columbia, Oct. 28, 2019 (GLOBE NEWSWIRE) — Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) on October 28, 2019 paid a total of US$359,733 to settle its semi-annual interest payment to its debentureholders.
As announced on April 29, 2019 the Company closed a non-brokered private placement offering of a total of US$7,175,000 secured subordinated convertible debentures. The debentures have a term of three years and bear interest at the rate of 10% per annum, payable semi-annually. The Company did not exercise its option to pay this interest in cash and instead elected to settle this first interest payment in cash.About Scorpio Gold Corporation