Scandium Canada Announces $5 Million Non-Brokered LIFE Offering of Charity Flow-Through Units
Scandium Canada raises $5 million to fund drilling and exploration at its Crater Lake project.
Scandium Canada Ltd. (SCD) announced a non-brokered private placement of up to 25,000,000 charity flow-through units under the Listed Issuer Financing Exemption (LIFE). The offering is priced at $0.20 per unit, targeting gross proceeds of up to $5,000,000.
Each unit consists of one common share and one common share purchase warrant exercisable at $0.22 per share, expiring 24 months post-closing. Proceeds will fund diamond drilling, exploration campaigns, and environmental sampling at the Crater Lake Project in Nunavik, Quebec. Qualifying expenditures will be renounced to purchasers by December 31, 2026.
Expected closing is on or about August 20, 2026, subject to TSX Venture Exchange approval.
Scandium Canada Ltd. (SCD) has launched a $5 million LIFE offering to fund a 4,000-meter diamond drilling campaign announced in June 2026. The transaction aligns with the company's stated operational roadmap, extending its cash runway to support metallurgical sampling and pre-feasibility study activities.
The shares were issued at $0.20, representing a modest discount to recent trading levels, a pricing structure standard for non-brokered LIFE offerings in the junior mining sector. While the transaction is dilutive, it is considered manageable given the company's existing $11.6 million cash position and the strategic necessity of advancing the Crater Lake project toward its pre-feasibility study completion target. The news is incremental and execution-focused, introducing no unexpected catalysts or fundamental shifts.
Scandium Canada Ltd. is a pre-revenue critical minerals company focused on developing the Crater Lake Project in Nunavik, Quebec. The project is positioned as North America's only primary scandium source, with the TG Zone serving as the primary mineralization target.
The company operates a dual-track strategy that includes the upstream development of the Crater Lake mine, targeting 91 tonnes per year of scandium oxide, and the downstream commercialization of proprietary aluminum-scandium (Al-Sc) alloys through its Scalium+ subsidiary. Additionally, the company has secured a $6.9 million non-dilutive grant from Natural Resources Canada and maintains strong community ties with the Naskapi Nation of Kawawachikamach.