Scorpio Gold Shares Soar 180% on Its Nasdaq Trading Debut

Scorpio Gold Corporation (NASDAQ:SGLD) shares are trading higher after the company began trading its ADSs on the Nasdaq.

• Scorpio Gold shares are testing new highs. What’s driving SGLD to record levels?

Scorpio Gold ADSs Begin Trading on Nasdaq Under ‘SGLD’

Scorpio Gold’s American Depositary Shares commenced trading on the Nasdaq Capital Market under the ticker symbol “SGLD” at the opening of trading on September 1. Each ADS represents 20 common shares of the company, with The Bank of New York Mellon serving as depositary for the program. The listing is complementary to Scorpio Gold’s existing exchanges — its common shares continue trading on the TSX Venture Exchange, now also under the symbol “SGLD,” as well as on the OTCQB Venture Market under “SRCRF” and the Frankfurt Stock Exchange under “RY9.”

Because the listing was structured through an ADS program rather than a direct listing of common shares, the company was able to satisfy Nasdaq’s initial listing requirements without a share consolidation, preserving its existing capital structure and home-market liquidity for current shareholders. Shareholders can convert common shares into ADSs at any time through their broker, at a ratio of one ADS for every 20 common shares; ADS issuance fees will be waived through November 25.

“Listing on NASDAQ is a defining milestone for Scorpio Gold,” said Zayn Kalyan, CEO and Director of Scorpio Gold. “As that momentum builds, a single ‘SGLD’ symbol on both sides of the border will give investors one clear identity for the Company as we enter this next phase of growth.”

Scorpio Gold Shares Race Higher

SGLD Price Action: At the time of publication, Scorpio Gold shares are trading 186.42% higher at $14.55, according to data from Benzinga Pro.

This illustration was generated using artificial intelligence via Midjourney.