Scandium Canada Announces Closing of $17.3 Million Bought Deal Life Offering, Including Full Exercise of Over-Allotment Option

Executive Summary

• Scandium Canada Ltd. closed a bought‑deal private placement of 78,409,300 units at C$0.22 per unit, generating gross proceeds of C$17,250,046.
• Each unit consists of one common share and one warrant to purchase an additional share at C$0.30 (exercisable until 17 Sep 2028).
• Net proceeds will fund Crater Lake project development, Al‑Sc alloy pre‑commercialization work, and general corporate/working capital needs.

Key Details

• Units Issued: 78,409,300 units (including full over‑allotment).
• Price per Unit: C$0.22.
• Gross Proceeds: C$17,250,046.
• Unit Composition: 1 common share + 1 common share purchase warrant.
• Warrant Exercise Price: C$0.30 per share; exercisable any time until 17 Sep 2028.
• Underwriters: Lead underwriter – Research Capital Corporation (sole bookrunner); syndicate includes Red Cloud Securities Inc.
• Broker Compensation: Cash commissions of $1,023,122.76 plus 4,650,558 non‑transferable common share purchase warrants (exercise price $0.22, exercisable until 17 Sep 2028).
• Use of Proceeds:
• Project expenditures and works on the Crater Lake mining project.
• Development and pre‑commercialization of proprietary Al‑Sc alloys.
• General corporate and working capital purposes.
• Regulatory Conditions: Offering relied on NI 45‑106 exemptions; subject to final approval by the TSX Venture Exchange.

Notable Quotes

(No direct quotes were provided in the release.)