Vancouver, May 21, 2020 – Scorpio Gold Corporation (“Scorpio Gold” or the “Company”) (TSX-V: SGN) is pleased to announce the appointment of Bruce Dawson to the board of directors of the Company, subject to approval of the TSX Venture Exchange. Murray Bockhold has resigned from the board of directors to concentrate on his role as the custodian of Gryphon Gold.
Bruce Dawson, AScT, is Chair of Dawkam Holdings Ltd., a consortium of construction and real estate assets. Mr. Dawson started working for the family construction business in 1970 and developed his own successful construction firm in 1990. He is a former Director of the BC Roadbuilders & Heavy Construction Association, the Southern Interior Construction Association, and the Council of Construction Associations.
The appointment of Bruce Dawson was made pursuant to the Board Composition Requirement of the Convertible Secured Subordinated Debenture Indenture made as of April 26, 2019, as amended, between the Company and Computershare Trust Company of Canada (the “Debenture Indenture”). The Lead Debentureholders mean collectively Ianco Holdings Ltd., a company owned by Ian Dawson and Matco Holdings Ltd., a company controlled by Bruce Dawson (the “Lead Debentureholders”). The Board Composition Requirements are now met as at least half of the Board are nominees of the Lead Debentureholders given that Peter Tegart, Ian Dawson and Bruce Dawson are the Lead Debentureholder board nominees.
With the appointment and resignation, the board of directors of the Company is now comprised of six members including Peter Hawley, Brian Lock, Peter Brieger, Peter Tegart, Ian Dawson and Bruce Dawson.
ON BEHALF OF THE BOARD
SCORPIO GOLD CORPORATION
Chief Executive Officer
For further information contact:
Brian Lock, CEO
Tel: (604) 889-2543
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.