Replies to post #224 on Scorpio Gold Corp. (SRCRF)

[Talldude]

S.T. ARBITRAGE PLAY HERE!!!

Fleshing out Belgie's Headsup: Transaction Highlights

* Gold Standard agrees to pay Scorpio Gold a total of CAD$8,500,000 in cash and issue Scorpio Gold 5,500,000 common shares in its capital stock

* Of the cash consideration, CAD$6,000,000 is to be paid at closing (inclusive of the Deposit), and CAD $2,500,000 is to be paid one year after closing


Peter J. Hawley, CEO comments:

"This transaction works extremely well for both companies.

Speaking for Scorpio Gold, the combination of cash, stock and bonus consideration provides the Company and its shareholders with significant immediate and long term benefits from a non-core asset.

Given today's market we feel that it makes more sense to concentrate our efforts and financial resources on expanded exploration and development at our producing Mineral Ridge gold mine and the advanced stage Goldwedge project.

The value of the full transaction to Scorpio Gold exclusive of the bonus consideration is approximately $0.11 cents per share, which is felt to be very accretive to the shareholders of the Company given that the market was giving Scorpio Gold little to no value for the Pinon asset."

Yahoo Finance shows SGN.V closing at 29c.

iHub shows SRCRF lagging and closing at 24.5c

Much wider than normal intermarket spread here, thus the ARB opportunity.