Scorpio Gold Pays Interest to Debenture Holders

Rhea-AI Summary

Scorpio Gold Corporation has made a semi-annual interest payment of US$355,274 to its debentureholders, as confirmed on April 26, 2021. This payment is related to its US$7,125,000 secured subordinated convertible debentures, which have a maturity date of April 26, 2022, and an interest rate of 10% per annum payable semi-annually. Notably, the company opted to pay this interest in cash rather than shares.

Positive

• The company successfully made its interest payment on time, indicating financial responsibility.
• Opting for a cash payment over shares suggests confidence in liquidity.

Negative

• The outstanding debentures of US$7,125,000 could pose future financial obligations.
• The approaching maturity date of April 26, 2022, may pressure the company to secure additional funding.

VANCOUVER, BC / ACCESSWIRE / April 26, 2021 / Scorpio Gold Corporation ("Scorpio Gold" or the "Company") (TSXV:SGN) on April 26, 2021 paid a total of US$355,274 to settle its semi-annual interest payment to its debentureholders.

The Company has US$7,125,000 secured subordinated convertible debentures that mature on April 26, 2022. The debentures bear interest at the rate of 10% per annum, payable semi-annually. The Company did not exercise its option to pay this interest in shares and instead elected to settle this interest payment in cash.

ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION

Brian Lock,
Chief Executive Officer

Brian Lock
Tel: (604) 889-2543
Email: block@scorpiogold.com

Anthony Simone
Tel: (416) 881-5154
Email: ir@scorpiogold.com

Website: www.scorpiogold.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Scorpio Gold Corporation

View source version on accesswire.com:
https://www.accesswire.com/642055/Scorpio-Gold-Pays-Interest-to-Debenture-Holders

FAQ

What is the recent interest payment made by Scorpio Gold Corporation (SRCRF)?

Scorpio Gold Corporation paid US$355,274 to its debentureholders on April 26, 2021.

What is the maturity date of Scorpio Gold's debentures?

The debentures mature on April 26, 2022.

What is the interest rate on Scorpio Gold's debentures?

The debentures bear an interest rate of 10% per annum.

Did Scorpio Gold choose to pay the interest in cash or shares?

Scorpio Gold elected to settle the interest payment in cash.

How much are Scorpio Gold's outstanding debentures?

Scorpio Gold has US$7,125,000 in outstanding secured subordinated convertible debentures.