STOCK TITAN

Scorpio Announces Appointment of Jeff Lindstrom as VP Operations

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management

Scorpio Gold (SRCRF) has appointed Jeffery Lindstrom as VP of Operations to manage its Manhattan and Mineral Ridge mines in Nevada. Lindstrom, an associate with Daniel Kunz and Associates (DKA), brings over 30 years of mining industry experience. The company announced that Christopher Zerga and Diane Zerga are no longer serving as COO and VP Operations respectively, though Christopher remains a director. Additionally, the company granted 4.3 million stock options at $0.135, 350,000 stock options at $0.15, and 900,000 restricted share units to consultants and employees.

Scorpio Gold (SRCRF) ha nominato Jeffery Lindstrom come VP delle Operazioni per gestire le sue miniere di Manhattan e Mineral Ridge in Nevada. Lindstrom, associato di Daniel Kunz and Associates (DKA), porta con sé oltre 30 anni di esperienza nel settore minerario. L'azienda ha annunciato che Christopher Zerga e Diane Zerga non ricoprono più i ruoli di COO e VP delle Operazioni rispettivamente, anche se Christopher rimane un direttore. Inoltre, l'azienda ha concesso 4,3 milioni di opzioni su azioni a $0,135, 350.000 opzioni su azioni a $0,15 e 900.000 unità di azioni ristrette a consulenti e dipendenti.

Scorpio Gold (SRCRF) ha nombrado a Jeffery Lindstrom como VP de Operaciones para gestionar sus minas de Manhattan y Mineral Ridge en Nevada. Lindstrom, asociado con Daniel Kunz and Associates (DKA), aporta más de 30 años de experiencia en la industria minera. La empresa anunció que Christopher Zerga y Diane Zerga ya no ocupan los cargos de COO y VP de Operaciones, respectivamente, aunque Christopher sigue siendo director. Además, la empresa otorgó 4.3 millones de opciones sobre acciones a $0.135, 350,000 opciones sobre acciones a $0.15, y 900,000 unidades de acciones restringidas a consultores y empleados.

스콜피오 골드 (SRCRF)는 제프리 린드스트롬을 네바다의 맨하탄 및 미네랄 리지 광산을 관리하기 위한 운영 부사장으로 임명했습니다. 린드스트롬은 다니엘 쿤즈 앤드 어소시에이츠(DKA)의 협력자로서, 30년이 넘는 광업 경력을 가지고 있습니다. 회사는 크리스토퍼 제르가와 다이앤 제르가가 COO와 운영 VP 직책에서 물러났지만, 크리스토퍼는 여전히 이사로 남아 있다고 발표했습니다. 또한, 회사는 컨설턴트와 직원에게 430만 주식 옵션을 $0.135에, 35만 주식 옵션을 $0.15에, 그리고 90만 제한주식 단위를 부여했습니다.

Scorpio Gold (SRCRF) a nommé Jeffery Lindstrom au poste de VP des opérations pour gérer ses mines de Manhattan et de Mineral Ridge dans le Nevada. Lindstrom, associé à Daniel Kunz and Associates (DKA), apporte plus de 30 ans d'expérience dans l'industrie minière. La société a annoncé que Christopher Zerga et Diane Zerga ne sont plus COO et VP des opérations respectivement, bien que Christopher demeure directeur. De plus, la société a accordé 4,3 millions d'options sur actions à 0,135 $, 350 000 options sur actions à 0,15 $ et 900 000 unités d'actions restreintes à des consultants et à des employés.

Scorpio Gold (SRCRF) hat Jeffery Lindstrom zum VP für Operations ernannt, um die Minen in Manhattan und Mineral Ridge in Nevada zu leiten. Lindstrom, ein Mitarbeiter von Daniel Kunz and Associates (DKA), bringt über 30 Jahre Erfahrung in der Bergbauindustrie mit. Das Unternehmen gab bekannt, dass Christopher Zerga und Diane Zerga nicht mehr als COO und VP Operations tätig sind, wobei Christopher jedoch weiterhin als Direktor fungiert. Darüber hinaus hat das Unternehmen 4,3 Millionen Aktienoptionen zu einem Preis von $0,135, 350.000 Aktienoptionen zu einem Preis von $0,15 und 900.000 Restricted Share Units an Berater und Mitarbeiter vergeben.

Positive
  • Appointment of experienced mining executive with 30+ years industry experience
  • Ongoing work towards compliant resource at Manhattan project
Negative
  • Departure of both COO and VP Operations positions simultaneously
  • Significant equity issuance potentially leading to dilution

Vancouver, British Columbia--(Newsfile Corp. - November 1, 2024) - Scorpio Gold Corporation (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) ("Scorpio Gold", or the "Company") is pleased to announce that it has appointed Jeffery Lindstrom as the Company's VP of Operations. Mr. Lindstrom will be responsible for day-to-day management of Scorpio's two mines in the Walker Lane trend of Nevada, Manhattan and Mineral Ridge. Mr. Lindstrom is an associate with Daniel Kunz and Associates ("DKA") and has worked with Scorpio over the past months as the Company works with DKA towards a compliant resource at Manhattan.

Mr. Lindstrom has spent his career in the mining industry with over 30 years of experience. He began as a mine engineer with Pegasus Gold Corporation, including working at the Black Pine gold project currently under development by Liberty Gold. Jeff was Operations Manager for Atlanta Gold Corp. and worked on a development strategy for Atlanta to move from bulk mining and cyanide heap leaching plans to a combined shallow open-pit and underground operation with on-site milling without cyanide. As Engineering Manager for ISR Capital and Owyhee Gold he worked on several open pit and underground mineral projects in Idaho and Montana. With Gold Torrent, Inc. he worked on the high-grade, underground Lucky Shot gold project in Alaska. His work with Daniel Kunz & Associates, as Senior Mine Engineer, includes engineering activities for a high-grade gold-silver exploration in Mexico, services to Scorpio Gold related to the Company's Manhattan gold project, and supporting various DKA project due diligence. He holds degrees from Boise State University and Phoenix Institute of Technology. He has significant work experience in project design, modelling, construction, and material processing with his more recent work in project assessment and development.

The Company also announces that Christopher Zerga is no longer serving as the Company's Chief Operating Officer and Diane Zerga is no longer serving as the Company's Vice-President Operations. Mr. Zerga remains a director of the Company.

Equity Issuances

The Company also announces it has granted the following (the "Equity Award Grants") to consultants and employees of the Company:

  1. 4,300,000 stock options, exercisable at $0.135, vesting immediately and having a four-year term;

  2. 350,000 stock options, exercisable at $0.15, vesting in 25% tranches each six months from the grant date, and having a four-year term; and

  3. 900,000 restricted share units (the "RSUs"), vesting 100% twelve months from the grant date.

250,000 of the RSUs were granted to an officer of the Company and, accordingly, such grant was considered a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Such grant was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a) of MI 61-101, given neither the fair market value of the securities issued nor the consideration provided therefor exceeded 25% of the Company's market capitalization.

The Company is authorized to grant a total of 13,026,824 stock options and 9,000,000 restricted share units pursuant to its equity incentive plan, of which 9,134,432 stock options and 900,000 RSUs are now outstanding following the Equity Award Grants.

About Scorpio Gold Corp.

Scorpio Gold holds a 100% interest in two past producing mines, the Manhattan Mine and the Mineral Ridge Mine, both located in the Walker Lane Trend of Nevada, USA. Scorpio Gold's Manhattan District comprises the advanced exploration-stage Goldwedge Project, with a 400 ton per day gravity mill. Adjacent to Goldwedge is the ~4,780-hectare Manhattan Project, centered on two past-producing pits, acquired from Kinross in 2021. The consolidated Manhattan District presents an exciting late-stage exploration opportunity, with over 100,000+ meters of historical drilling, with significant resource potential, alongside valuable permitting. Scorpio Gold also holds a 100% interest in the Mineral Ridge gold project located in Esmeralda County, Nevada. Scorpio Gold produced over 222,440 oz of gold at Mineral Ridge between 2010 and 2020. With a proven and probable resource, valuable permits, water rights, infrastructure, and the recently acquired adjacent North Star exploration target, Mineral Ridge has significant near-term development potential.

ON BEHALF OF THE BOARD OF SCORPIO GOLD CORPORATION

Zayn Kalyan, Chief Executive Officer and Director
Tel: (604)-252-2672
Email: zayn@scorpiogold.com

Investor Relations Contact:
Kin Communications Inc.
Tel: (604) 684-6730
Email: SGN@kincommunications.com

Connect with Scorpio Gold:
Email | Website | Facebook | LinkedIn | X | YouTube
To register for investor updates please visit: scorpiogold.com
(TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9)

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228604

FAQ

What positions did Scorpio Gold (SRCRF) fill in November 2024?

Scorpio Gold appointed Jeffery Lindstrom as VP of Operations to manage its Manhattan and Mineral Ridge mines in Nevada.

How many stock options did Scorpio Gold (SRCRF) grant in November 2024?

Scorpio Gold granted 4.3 million stock options at $0.135 and 350,000 stock options at $0.15, along with 900,000 restricted share units.

What management changes occurred at Scorpio Gold (SRCRF) in November 2024?

Christopher Zerga stepped down as COO and Diane Zerga as VP Operations, while Jeffery Lindstrom was appointed as the new VP of Operations.

SCORPIO GOLD CORP

OTC:SRCRF

SRCRF Rankings

SRCRF Latest News

SRCRF Stock Data

14.33M
125.45M
3.7%
5.44%
Gold
Basic Materials
Link
United States of America
Vancouver