Scorpio Gold upsizes public offering to C$10M on strong demand
What's the deal? Scorpio Gold CorporationDealroom has a profile for this one. Try Dealroom → has increased its previously announced public offering to C$10 million, citing strong investor demand. The company will offer up to 40,000,000 common shares at C$0.25 each, in a "best efforts" deal led by Velocity Trade Capital and Raymond JamesDealroom has a profile for this one. Try Dealroom →.
Why now? The upsizing comes just days after Scorpio Gold filed its short form base shelf prospectus on July 6, 2026 — a quick move to capitalise on demand while the window is open. The offering is expected to close on or about July 23, 2026.
What's the endgame? Net proceeds will fund exploration at the company's Manhattan Property, plus general corporate and working capital. The Vancouver-based miner trades on the TSX Venture Exchange, OTCQB, and Frankfurt exchanges.
The details: Velocity is sole bookrunner, with Raymond James as co-lead agent. The agents also hold an option to buy up to 6,000,000 additional shares within 30 days of closing, to cover over-allotments and stabilise the market.
What could go wrong? The deal remains subject to regulatory approvals, including acceptance by the TSX Venture Exchange. As a "best efforts" offering, there is no guarantee the full amount will be raised.
The signal: Scorpio Gold's rapid return to market — upsizing an offering within weeks of shelving the prospectus — reflects appetite for gold exposure as investors chase the sector. It is a bet that momentum will hold long enough to fund the drill.
Read more: Wall Street Online
Image credit: James St. John
