Scorpion announces equity financing

Toronto-based Scorpion Minerals (SCP-T) has entered into an agreement with Loewen Ondaatje McCutcheon for a special warrant financing in order to raise $15-$19.5 million.

Through a wholly owned subsidiary, Scorpion holds interests in five Indonesian mining properties totalling more than 5,000 sq. km. The properties are at various stages of exploration for gold, copper and base metals.

Proceeds from the offering will be used to continue exploration and development of these properties.

Scorpion explores solely in Indonesia.

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