Scorpio Gold Corporation (TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9) has closed a "best efforts" public offering, raising $10,800,000 in gross proceeds through the issuance of 43,200,000 common shares at $0.25 per share, according to a company statement.

The offering included 3,200,000 shares issued through a partial exercise of the agents' over-allotment option. Velocity Capital Partners served as sole bookrunner, with Raymond James Ltd. acting as co-lead agent. The agents received a combined cash commission of $613,500 and 2,454,000 non-transferable broker warrants, each exercisable at $0.25 per share for 24 months from issuance.

The company said net proceeds will be directed toward exploration activities at its Manhattan Property in Nevada, as well as general corporate and working capital purposes.

The shares were offered by way of a prospectus supplement filed across Canadian provinces, excluding Quebec, dated July 17, 2026, supplementing a base shelf prospectus dated July 6, 2026. The offering remains subject to final acceptance by the TSX Venture Exchange.

Scorpio Gold holds a 100% interest in the Manhattan District in Nevada's Walker Lane Trend, a approximately 4,780-hectare property that includes the Goldwedge Mine and four past-producing pits acquired from Kinross in 2021.