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

Executive Summary

• Scandium Canada Ltd. (TSX-V: SCD) has entered into a debt settlement agreement with an unrelated creditor to resolve a portion of the debt owed for services rendered to the Crater Lake project.
• The total debt amount settled is $84,800, which will be satisfied through the issuance of common shares rather than cash, thereby preserving the company's liquidity.
• The transaction involves the issuance of 513,939 shares at a price of $0.165 per share and is subject to TSX Venture Exchange approval.

Key Details

• Transaction Type: Debt settlement via equity issuance.
• Total Debt Amount: $84,800 CAD.
• Shares Issued: 513,939 common shares.
• Price Per Share: $0.165 CAD.
• Recipient: An unrelated creditor (no insider participation).
• Purpose of Debt: Services rendered for the Crater Lake project.
• Regulatory Status: Subject to approval by the TSX Venture Exchange.
• 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.
• Brokerage: No brokerage agreements were entered into for this transaction.
• Strategic Rationale: The Board of Directors believes this settlement is in the best interest of the company as it preserves liquidity, improves the balance sheet, and supports prudent financial management.

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 Ltd.