Scandium Canada Announces Closing of $5 Million Non-Brokered Life Offering of Charity Flow-Through Units

Scandium Canada Ltd. has closed a non-brokered private offering of 25,000,000 charity flow-through (FT) units at $0.20 per unit, raising $5,000,000 in gross proceeds. The funds are strictly allocated to diamond drilling, exploration campaigns, and environmental sampling at the Crater Lake Project through December 31, 2027.

Each unit includes one common share and one common share purchase warrant. The warrants carry an exercise price of $0.22 per share and are exercisable from October 20, 2026, to August 20, 2028. The offering was secured by Wealth Creation Preservation & Donation Inc. (WCPD).

Closing is subject to final TSX Venture Exchange approval. This transaction follows the initial announcement on August 3, 2026, and aligns with the company's stated plan to fund the ongoing 4,000-meter drilling campaign and update the mineral resource estimate.

Scandium Canada Ltd. (SCD) announced a financing that serves as an expected, incremental follow-up to its August 3 announcement, introducing no new strategic pivots or unexpected catalysts. The $5 million injection extends the company's cash runway, complementing the approximately $11.6 million cash balance reported in mid-July 2026. This capital comfortably funds operations through late 2027, mitigating near-term dilution risk from equity raises.

The transaction involves the issuance of 25 million new shares and 25 million warrants. The warrant strike price of $0.22 is slightly out-of-the-money relative to the current $0.20 price, limiting immediate selling pressure. The capital is earmarked for execution, including drilling and environmental work, rather than corporate overhead. This allocation signals operational focus but does not change the fundamental risk profile of a pre-revenue explorer. The news confirms management's ability to execute on previously communicated funding needs without altering the project timeline or valuation thesis.

Scandium Canada Ltd. (SCD) is a pre-revenue critical minerals company focused on the Crater Lake Project in Nunavik, Quebec. Its flagship asset is the Crater Lake TG Zone, a primary scandium and rare earth element (REE) deposit.

An NI 43-101 compliant resource estimate published in April 2025 indicates that indicated and inferred resources contain approximately 4,000 tonnes of contained scandium oxide. The deposit remains open in all directions.

The company is currently in the pre-feasibility study (PFS) stage, with results expected in summer 2026. Metallurgical testwork and environmental assessments are ongoing. Scandium Canada employs a two-engine strategy that combines upstream mining at Crater Lake with the downstream commercialization of proprietary aluminum-scandium (Al-Sc) alloys via its Scalium+ subsidiary.

Target production includes 91 tonnes per year of scandium oxide, along with high-value Al-Sc master alloys and powders for aerospace, defense, and additive manufacturing.