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Scandium Canada Announces Upsize of Bought Deal LIFE Offering of Units to $15 Million
TMX Newsfile· 2026-03-04 13:00
Core Viewpoint - Scandium Canada Ltd. has announced an increase in its bought-deal offering due to strong investor demand, aiming to raise a total of C$15,000,040 by selling 68,182,000 units at C$0.22 each [1]. Group 1: Offering Details - Each unit consists of one common share and one common share purchase warrant, allowing the holder to acquire an additional share at C$0.30 for 30 months [2]. - The underwriters have an option to sell up to an additional 10,227,300 units for gross proceeds of up to C$2,250,006 [3]. - The offering is expected to close around March 17, 2026, subject to necessary approvals [6]. Group 2: Use of Proceeds - The net proceeds will be allocated for project expenditures on the Crater Lake project, development of proprietary Al Sc alloys, and general corporate purposes [4]. Group 3: Regulatory and Compliance Information - The offering will be conducted under the "listed issuer financing exemption" and is expected to be freely tradable under Canadian securities legislation [5]. - The securities may also be offered in the U.S. and other jurisdictions under applicable laws [5]. Group 4: Company Overview - Scandium Canada Ltd. aims to become a market leader in scandium production, focusing on the development of aluminum-scandium alloys to meet the demand for high-performance materials [10].