Core Viewpoint - Scandium Canada Ltd. has successfully closed a non-brokered private placement of $334,000 with the Taasipitaakin Trust, controlled by the Naskapi Nation, to support the development of the Crater Lake project, the only primary source of scandium currently under development globally [1][2][3] Investment Details - The Taasipitaakin Trust subscribed to 16,700,000 units at a price of $0.02 per unit, with each unit consisting of one common share and one purchase warrant [1] - Each warrant allows the holder to purchase one common share at an exercise price of $0.05 for 24 months [1] Strategic Importance - This investment is part of a strategic growth initiative and aims to strengthen the relationship between Scandium Canada and the Naskapi Nation, contributing to the sustainable development of the Crater Lake project [2][3] - The investment represents a 5% ownership stake in Scandium Canada for the Taasipitaakin Trust, reflecting a commitment to responsible and inclusive development [3][4] Community Engagement - The Naskapi Nation emphasizes a diversified approach to participation in the mining industry, seeking to ensure that any future mining activities are acceptable to the community [4] - A Pre-development Agreement was signed on April 22, 2024, establishing a foundation for a long-term relationship based on trust and respect [6] Use of Proceeds - The net proceeds from the offering will primarily be used for general corporate working capital, 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] Regulatory Compliance - The securities issued are subject to a hold period of four months and one day under Canadian securities laws, pending final approval from the TSX Venture Exchange [7]