Overwhelming Shareholder Support at 2026 Annual Meeting; Scandium Canada Enters the Year Fully Funded to Advance PFS, Drilling Campaign and Al-Sc Alloys Qualification

The most recent news release dated April 22, 2026, confirms that Scandium Canada has entered 2026 with a robust financial position. The company reports approximately $15 million in cash on hand and secured a non-dilutive government grant of $6.9 million from Natural Resources Canada (Global Partnership Initiative). This follows the closing of a bought-deal financing on March 17, 2026, which raised $17.3 million. The company outlined a three-pillar work program for the next 12 months: qualification of proprietary aluminum-scandium alloys, completion of a Pre-Feasibility Study (PFS) for the Crater Lake project's TG zone by late summer 2026, and a $5 million drilling campaign. Shareholders overwhelmingly supported the board re-election and share incentive plans at the Annual General Meeting on April 21, 2026.

The news is categorized as Routine - Positive because it confirms financial stability that was largely anticipated following the March 2026 financing announcement. The $17.3 million raised in March and the $6.9 million grant announced on March 2 were already material events that likely drove the stock price to its January highs ($0.31). This April update serves as an execution confirmation rather than a new catalyst. While entering the year "fully funded" is positive for risk management, it does not introduce unexpected upside relative to previous expectations set in Q1 2026. The market has already priced in the capital raise; therefore, this news stabilizes sentiment but lacks the surprise element required for a Material - Positive rating.

Scandium Canada Ltd. focuses on developing the Crater Lake project in Quebec, identified as North America's largest primary scandium source. The company operates two main divisions: the mining division (Crater Lake) and Scandium+, which commercializes proprietary aluminum-scandium alloys for additive manufacturing and aerospace applications. The flagship project is the TG Zone at Crater Lake, currently undergoing a Pre-Feasibility Study. The company has successfully completed metallurgical pilot tests achieving high purity scandium oxide (99.5%) and reduced concentrate haulage costs.