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BRIEF-Scorpio Gold Announces Forbearance Agreement

Published 2018-08-13, 06:53 p/m
© Reuters. BRIEF-Scorpio Gold Announces Forbearance Agreement
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Aug 13 (Reuters) - Scorpio Gold Corp SGN.V :

* SCORPIO GOLD ANNOUNCES FORBEARANCE AGREEMENT

* FORBEARANCE AGREEMENT IN CONNECTION WITH REPAYMENT OF A LOAN ADVANCED FROM LENDER TO CO IN PRINCIPAL AMOUNT OF US$6 MILLION

* LENDER AGREED TO NOT EXERCISE ITS RIGHTS AND REMEDIES IN CONNECTION WITH LOAN AND EXTEND MATURITY DATE TO OCT 15

* CO WILL USE PERIOD UNTIL OCTOBER 15 TO COMPLETE ITS REVIEW OF POTENTIAL STRATEGIC ALTERNATIVES, INCLUDING POSSIBLE SALE TRANSACTION

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