SCD:CC - Scandium Canada Announces Upsizing of its Private Placement
(TheNewswire)
July 17, 2024 – TheNewswire – MONTRÉAL (QUÉBEC) – Scandium CanadaLtd. (TSX-V: SCD) (OTC: SCDCF) (the “ Corporation ”) ispleased to announce that its ongoing private placement, previouslyannounced by news release dated July 12, 2024, has been increased from$100,000 to $1,000,000 due to excess demand .
The Corporation now intends to complete a non-brokeredprivate placement offering of up to 6,607,142 units (“ Units ”), being2,857,142 Units at a price of $0.035 per Unit and 22,500,000 Units ata price of $0.04 (the “ Private Placement ”), for total grossproceeds of up to $1,000,000. Each Unit will consist of one commonshare in the capital of the Corporation (a “ Common Share ”) andone Common Share purchase warrant (a “ Warrant ”), witheach Warrant entitling the holder thereof to acquire an additionalCommon Share at an exercise price of $0.05 per Common Share for 24months after the date of issuance.
The net proceeds from the sale of the Units will be mainly used by theCorporation for general and corporate working capital purposes.
The Common Shares and the Warrants issued under this Private Placementwill be subject to a restricted hold period of four months and one dayfollowing the closing of the Private Placement under applicableCanadian securities laws. The Private Placement remains subject to thefinal approval of the TSX Venture Exchange.
This news release does notconstitute an offer to sell or a solicitation of an offer to buy anyof the securities in the United States. The securities have not beenand will not be registered under the United States Securities Act of1933, as amended (the " U.S. Securities Act ") or any state securities laws andmay not be offered or sold within the United States or to U.S. Personsunless registered under the U.S. Securities Act and applicable statesecurities laws or an exemption from such registration is available.
About Scandium Canada Ltd.
Scandium Canada is a Canadian technology metalscompany focused on advancing its flagship Crater Lake scandium andrare earth project in Québec.
Forward-Looking Statements
All statements, other thanstatements of historical fact, contained in this press releaseincluding, but not limited to, those relating to the intended use ofproceeds of the Private Placement, closing of the Private Placement,the final approval of the Exchange in connection with the PrivatePlacement, the development of the Crater Lake project and, generally,the above “About Scandium Canada Ltd.” paragraph which essentiallydescribed the Corporation’s outlook, constitute “forward-lookinginformation" or “forward-looking statements” within themeaning of applicable securities laws, and are based on expectations,estimates and projections as of the time of this press release.Forward-looking statements are necessarily based upon a number ofestimates and assumption that, while considered reasonable by theCorporation as of the time of such statements, are inherently subjectto significant business, economic and competitive uncertainties, and contingencies. Theseestimates and assumption may prove to be incorrect. Many of theseuncertainties and contingencies can directly or indirectly affect, andcould cause, actual results to differ materially from those expressedor implied in any forward-looking statements and future events, coulddiffer materially from those anticipated in such statements. Adescription of assumptions used to develop such forward-lookinginformation and a description of risk factors that may cause actualresults to differ materially from forward-looking information can befound in the Corporation’s disclosure documents on the SEDAR+website at www.sedarplus.ca .
By their very nature,forward-looking statements involve inherent risks and uncertainties,both general and specific, and risks exist that estimates, forecasts,projections and other forward-looking statements will not be achievedor that assumptions do not reflect future experience. Forward-lookingstatements are provided for the purpose of providing information aboutmanagement’s endeavors to develop the Crater Lake project, and, moregenerally, its expectations and plans relating to the future. Readersare cautioned not to place undue reliance on these forward-lookingstatements as a number of important risk factors and future eventscould cause the actual outcomes to differ materially from the beliefs,plans, objectives, expectations, anticipations, estimates, assumptionsand intentions expressed in such forward-looking statements. All ofthe forward-looking statements made in this press release arequalified by these cautionary statements and those made in our otherfilings with the securities regulators of Canada. The Corporationdisclaims any intention or obligation to update or revise anyforward-looking statement or to explain any material differencebetween subsequent actual events and such forward-looking statements,except to the extent required by applicable law.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
Contact:
Guy Bourassa
Chief Executive Officer
Phone: 1 (418) 580-2320
info@scandium-canada.com
Rebecca Greco
Investor Relations
Phone: 1 (416) 822-6483
fighouse@yahoo.com
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