Scandium Canada Announces Its Intention To Complete A Shares For Debt Transaction

Executive Summary

• Scandium Canada Ltd. signed a debt settlement agreement with an arm’s length creditor to resolve $84,800 in debt related to services rendered for the Crater Lake project.
• The debt will be settled via the issuance of 513,939 common shares at a price of $0.165 per share.
• The transaction is subject to TSX Venture Exchange approval and includes a mandatory hold period of four months and one day for the issued shares.

Key Details

• Debt Amount: $84,800 representing a portion of debt owed for services rendered for the Crater Lake project.
• Settlement Mechanism: Issuance of 513,939 common shares.
• Price Per Share: $0.165.
• Total Value of Shares Issued: $84,800 (513,939 shares × $0.165).
• Regulatory Status: Subject to approval by the TSX Venture Exchange.
• Hold Period: Mandatory hold period of four months and one day from the date of issue, in accordance with applicable securities laws.
• Insider Participation: No insiders are participating in this transaction.
• Brokerage: No brokerage agreement was entered into in connection with this debt settlement.
• Strategic Rationale: The Board believes settling via shares preserves cash for operations, improves the balance sheet, and supports prudent financial resource management.

Notable Quotes

• "The Company's board of directors believes that settling this debt through the issuance of Shares is in the best interest of the Company, as it allows it to preserve cash for its operations, improve its balance sheet, and support the overall need to manage its financial resources prudently."