Scorpio Gold – Bonus Cash Payment CAD$1.5M from Orla Mining
VANCOUVER, British Columbia, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (Scorpio Gold or the Company) (TSX-V: SGN) announces that it has received a bonus cash payment from Orla Mining of CAD $1,500,000 (The Bonus Payment).
- VANCOUVER, British Columbia, Sept. 27, 2022 (GLOBE NEWSWIRE) -- Scorpio Gold Corporation (Scorpio Gold or the Company) (TSX-V: SGN) announces that it has received a bonus cash payment from Orla Mining of CAD $1,500,000 (The Bonus Payment).
- As reported in the Companys press release dated March 5, 2014, Scorpio Gold completed the sale of certain mineral properties in Nevada (the Pinion Properties), to an affiliate of Gold Standard Ventures Corp. (Gold Standard).
- As part of the transaction, Gold Standard agreed to pay Scorpio Gold bonus cash consideration of between CAD$1,500,000 and CAD$3,000,000 on a sliding scale if the Pinon Property or Gold Standard are sold for an aggregate transaction value of between Cdn.$100,000,000 and Cdn.$300,000,000 or greater.
- On August 12, 2022, Orla Mining completed the acquisition of Gold Standard, triggering the Bonus Payment.