Scorpion seeking finance

Scorpion seeking finance

TORONTO (Reuter): Scorpion Minerals Inc said it planned to
raise between C$15 million and C$19.5 million through the private
placement of special warrants.

Loewen, Ondaatje, McCutcheon Ltd agreed to complete the
financing, Scorpion said.

The proceeds would be used to fund continued exploration and
development of mineral properties in Indonesia, it said.

The offering will consist of a minimum of two million and a
maximum of 2.6 million special warrants at a price of C$7.50 per
unit. Each special warrant will entitle the holder to acquire,
without payment of additional consideration, one unit consisting
of one common share and one-half of one common share purchase
warrant.

Each whole common share purchase warrant entitles the holder
to buy one common share for C$9 a share for up to 18 months after
the closing date.