Scandium Canada Annonce Son Intention De Proceder A Une Transaction De Reglement De Dettes Par Emission D'actions

Executive Summary

• Scandium Canada Ltée (TSX-V: SCD) has signed a debt settlement agreement with an unrelated creditor to resolve $84,800 CAD of outstanding debt related to the Crater Lake project.
• The debt will be settled through 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 aims to preserve company liquidity and improve the balance sheet.

Key Details

• Debt Amount: $84,800 CAD representing a portion of debt owed to an unrelated creditor for services rendered for the Crater Lake project.
• Settlement Method: Issuance of 513,939 common shares.
• Price Per Share: $0.165 CAD.
• Gross Proceeds/Value: $84,800 CAD (calculated as 513,939 shares × $0.165).
• Lock-up Period: The issued shares are subject to a mandatory hold period of four months and one day from the date of issuance, in accordance with applicable securities laws.
• Regulatory Status: The settlement is formalized in writing and remains subject to approval by the TSX Venture Exchange.
• Insider Participation: No insiders of the company are participating in this transaction.
• Brokerage: The company has not entered into any brokerage agreements in relation to this debt settlement.
• Strategic Rationale: The Board of Directors believes settling the debt via share issuance is in the best interest of the company, allowing it to preserve liquidity for operations, improve its balance sheet, and manage financial resources prudently.

Notable Quotes

• "The Board of Directors of the Company believes that the settlement of this debt by the issuance of Shares is in the best interest of the Company, as it allows it to preserve its liquidity for its activities, improve its balance sheet and support the overall need to manage its financial resources prudently." – Scandium Canada Ltée