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

Core Viewpoint - Scandium Canada Ltd. successfully closed a private offering, raising C$17,250,046 through the issuance of 78,409,300 units at C$0.22 per unit, including the full exercise of the over-allotment option [1][2]. Group 1: Offering Details - The offering was led by Research Capital Corporation as the lead underwriter, along with a syndicate of underwriters including Red Cloud Securities Inc. [2] - Each unit consists of one common share and one common share purchase warrant, with each warrant allowing the purchase of one common share at C$0.30 until September 17, 2028 [3]. - The offering utilized the "listed issuer financing exemption" under Canadian securities laws, allowing for the issuance without a statutory hold period [4]. Group 2: Use of Proceeds - The net proceeds from the offering will be allocated to project expenditures on the Crater Lake project, development of proprietary Al Sc alloys, and general corporate and working capital purposes [5]. Group 3: Underwriter Compensation - The underwriters received cash commissions totaling C$1,023,122.76 and 4,650,558 non-transferable common share purchase warrants, which can be exercised at C$0.22 until September 17, 2028 [6]. Group 4: Company Overview - Scandium Canada Ltd. aims to become a market leader in scandium production, focusing on the development and commercialization of aluminum-scandium alloys to meet the demand for high-performance materials [11].