Scandium Canada Announces Closing of Private Placements of $564,500

Company Overview - Scandium Canada Ltd. aims to become a market leader in scandium production, focusing on the development and commercialization of aluminum-scandium (Al-Sc) alloys [5] - The company is leveraging its Crater Lake mining project to meet the increasing demand for lighter, greener, and high-performance materials [5] Private Placement Details - The company closed a non-brokered private placement, raising gross proceeds of $564,500 through the issuance of 22,580,000 units at a price of $0.025 per unit [1][2] - Each unit consists of one common share and one warrant, with each warrant allowing the purchase of one common share at an exercise price of $0.05 for 24 months [1] Use of Proceeds - The net proceeds from the offering will primarily be used for general corporate working capital purposes, with no specific use exceeding 10% of the gross proceeds [2] - No proceeds will be allocated for investor relations or payments to non-arm's length persons [2] Finder's Fees and Warrants - Finder's fees totaling $11,760 were paid to an arm's length finder, and 350,000 brokers' warrants were issued, allowing the acquisition of one common share at a price of $0.05 for 24 months [3] Regulatory Compliance - The securities issued are subject to a hold period of four months and one day under Canadian securities laws and require final approval from the TSX Venture Exchange [3]