Scandium Canada Annonce la Cloture D'un Placement par Prise Ferme de 17,3m$ CA, Incluant L'exercice Integral de L'option des Preneurs Fermes

Executive Summary

• Scandium Canada Ltd. closed a firm commitment private placement of 78,409,300 units at CAD 0.22 per unit, generating gross proceeds of approximately CAD 17.25 million.
• Each unit consists of one common share and one subscription warrant exercisable at CAD 0.30 until 17 Sept 2028; broker warrants were also issued.
• Net proceeds are earmarked for development work on the Crater Lake project, pre‑commercialization of proprietary Al‑Sc alloys, and general corporate/working‑capital needs.

Key Details

• Placement Size: 78,409,300 units @ CAD 0.22/unit → Gross proceeds: CAD 17,250,046.
• Lead Underwriter / Bookrunner: Research Capital Corporation (sole bookrunner) on behalf of a syndicate that included Red Cloud Securities Inc.
• Unit Composition:
• 1 common share of Scandium Canada Ltd.
• 1 subscription warrant (“Bon”) to purchase an additional common share at CAD 0.30 per share, exercisable up to 17 Sept 2028.
• Broker Warrants: 4,650,558 non‑transferable broker warrants issued to the firm commitment investors, each allowing purchase of a common share at CAD 0.22 per share until 17 Sept 2028; subject to a four‑month‑plus‑one‑day hold‑restriction period.
• Cash Commissions Paid to Investors: CAD 1,023,122.76.
• Regulatory Exemptions: Units issued under “dispense for financing of a listed issuer” pursuant to NI 45‑106 (Canada) and related prospectus exemptions; not subject to Canadian securities lock‑up periods.
• Use of Proceeds (Net):
  1. Expenses and work on the Crater Lake mining project.
  2. Development and pre‑commercialization of Scandium Canada’s proprietary Al‑Sc alloys.
  3. General corporate purposes and working capital.
• Closing Conditions: Subject to final approval by the TSX Venture Exchange (TSXV).

Notable Quotes

(No executive quotes were included in the release.)