Scorpio Gold Corporation (TSXV:SGN) provided an update regarding its previously announced $15 million financing with Coral Reef Capital.
As quoted in the press release:
As such, the Company is obligated to pay a break fee of $500,000 along with approximately $100,000 of related due diligence costs incurred by Coral Reef.
The Company is currently analysing alternative financing opportunities including a possible debt financing with Coral Reef, which is at an advanced stage of negotiation. Further details will be released when available.