Scandium Canada Announces Closing of Private Placements of $564,500

Executive Summary

• Scandium Canada Ltd. closed a non‑brokered private placement raising $564,500 in gross proceeds.
• The offering consisted of 22,580,000 units at $0.025 per unit, each unit containing one common share and one warrant (exercise price $0.05).
• Net proceeds will be used for general corporate working capital; no single use exceeds 10 % of the total amount.

Key Details

• Units Issued: 22,580,000 units @ $0.025 per unit → $564,500 gross proceeds.
• Unit Composition: 1 common share + 1 common‑share purchase warrant (exercise price $0.05, exercisable for 24 months).
• Finder’s Fees Paid: $11,760 to an arm‑length finder.
• Broker Warrants Issued: 350,000 warrants (same terms as unit warrants) issued concurrently.
• Holding Period: All securities subject to a four‑month‑plus‑one‑day hold period under Canadian securities laws and TSX Venture Exchange policies.
• Use of Proceeds: Primarily for general and corporate working capital; no individual use accounts for ≥10 % of gross proceeds.
• Regulatory Conditions: Closing remains subject to final approval by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)