Scorpio Gold Corporation (TSXV: SGN) (OTCQB: SRCRF) has increased the size of its previously announced public offering to $10 million, citing strong investor demand, according to a press release.

The company amended its agreement with Velocity Trade Capital Ltd., the sole bookrunner, and Raymond James Ltd., acting as co-lead agent, to offer up to 40,000,000 common shares at $0.25 per share on a "best efforts" basis.

Scorpio Gold will also grant the agents an option to purchase up to an additional 6,000,000 shares on the same terms, exercisable within 30 days of closing, for market stabilization and to cover any over-allotments.

The company said net proceeds will be used to fund exploration activities at its Manhattan Property in Nevada and for general corporate and working capital purposes.

The offering is expected to close on or about July 23, 2026, subject to regulatory approvals including acceptance by the TSX Venture Exchange. Shares will be offered by way of a prospectus supplement to the company's short form base shelf prospectus dated July 6, 2026, in all Canadian provinces except Quebec, with some shares potentially sold in the United States under applicable exemptions.