Overwhelming Shareholder Support at 2026 Annual Meeting; Scandium Canada Enters the Year Fully Funded to Advance PFS, Drilling Campaign and Al-Sc Alloys Qualification Approximately $15 million in cash and $6.9 m illion in confirmed non-dilutive funding
April 22, 2026
Overwhelming Shareholder Support at 2026 Annual Meeting; Scandium Canada
Enters the Year Fully Funded to Advance PFS, Drilling Campaign and Al-Sc Alloys
Qualification
Approximately $15 million in cash and $6.9 m illion in confirmed non-dilutive funding
support a twelve-month work program focused on three defined catalysts.
MONTRÉAL, QUÉBEC – Scandium Canada Ltd. (TSX-V: SCD) (the “Company") is
pleased to announce the voting results from its Annual General and Special Meeting of
Shareholders (the "Meeting"), held on April 21, 2026.
All resolutions submitted to the vote were approved by strong majorities, including
unanimous (100%) support for the Company's slate of six directors: Guy Bourassa, Pierre
Neatby, Jeff Swinoga, Robert Kitchen, J ean Lafleur, and the newly-appointed Director
Cindy Valence, in a show of strong support for the Company's management team.
A total of 71,044,186 common s hares were represented at t he Meeting, representing
18.48% of the Company's issued and outstanding shares.
The Company enters the balance of 2026 with approximately $15 million in cash and $6.9
million in confirmed non-dilutive Canadian government funding, financing a work program
built around three distinct workstreams over the next twelve months:
1. Qualification of its two proprietary aluminum-scandium alloys;
2. Completion of an independent Preliminary Feasibility Study ("PFS") on the TG
zone at Crater Lake;
3. A $5M drilling campaign designed to secure a representative metallurgical sample.
Meeting Results - Highlights
Election of Directors
All six nominees on the Company's slate were elected with 100% of votes cast in favour:
• Guy Bourassa — 100.00%
• Robert Kitchen — 100.00%
• Jean Lafleur — 100.00%
• Pierre Neatby — 100.00%
• Jeffrey Anthony Swinoga — 100.00%
• Cindy Valence — 100.00%
Appointment of Auditors
Raymond Chabot Grant Thornt on was re-appointed as t he Company's auditor with
99.98% approval.
Share Option Plan
The Company's Share Option Plan was approved by shareholders with 93.03% support.
Restricted Share Unit Plan
The Company's Restricted Share Unit Pl an was approved by shareholders with 94.83%
support.
Following the Meeting, Jeff Swinoga continues as Chai rman of the Board and Guy
Bourassa as Chief Executive Officer.
Financial Position
Scandium Canada closed an ov ersubscribed public offering on March 17, 2026 for
aggregate gross proceeds of $17,250,046, upsized from an init ial target of $10 million.
On March 2, 2026, the Company secured a non-dilutive federal grant of $6,915,478 under
Natural Resources Canada's Global Partnershi ps Initiative. The Company now holds
approximately $15 million in ca sh, with grant funds available for deployment against
specific milestones.
The Company's 2026 work program is fully funded from existing resources. Proceeds and
grant funds are allocated against defined catalysts, as set out below.
Three Workstreams for 2026
Alloys qualification: The qualification campaign for the Company and its Scandium+
division’s two proprietary aluminum-scandium alloys, supplied as powders for L-PBF 3D
printing and wires for welding, Wire Arc Additive Manufacturing (WAAM), and advanced
manufacturing applications, is underway wi th industrial partners. Milestones will be
communicated on a rolling basis through 2026 as each qualification stage is cleared.
Preliminary Feasibility Study: Led by Norda Stelo, an independent PFS covering the TG
zone of the Crater Lake project is in progress. Engineering contracts have been awarded,
work is advancing, and completion is tar geted for the end of summer 2026. The study
integrates mineral resource, mine plan, processing, capital and operating cost
parameters.
Drilling campaign: A drilling campaign on t he Crater Lake property is scheduled for the
2026 field season. Its primary objective is to recover a representative sample of the TG
zone to support metallurgical testwork scheduled for the first half of 2027.
CEO Quote
"With $15 million in cash and $6. 9 million in government grant funding, we are entering
2026 with every dollar allocated against a defined catalyst: alloy qualification, the PFS,
and drilling at Crater Lake. Our focus this year is execution," said Guy Bourassa, Chief
Executive Officer of Scandium Canada.
ABOUT SCANDIUM CANADA LTD.
Scandium Canada (TSX-V: SCD) is a public company whose ultimate goal is to bring
the world's leading primary source of scandium into production, enabling the
development and commercialization of aluminum-scandium (Al-Sc) alloys. The
Company is leveraging its Al-Sc alloy development division and the development of its
Crater Lake mining project to meet the growing need for lighter, greener, longer-lasting,
high-performance materials. The Company aims to become a market leader in
scandium, while committing itself to building a more responsible economy through
innovation and agility.
ABOUT SCANDIUM+
Scandium+, a division of Scandium Canada, is dedicated to the research, development,
and commercialization of innovative scandium uses. We strive to unlock the full
potential of scandium through strategic partnerships, cutting-edge technology, and a
commitment to responsible stewardship, leading progress across multiple sectors.
FORWARD-LOOKING STATEMENTS
The information contained herein contains "forward-looking information" within the
meaning of applicable Canadian securities legislation. "Forward-looking information"
includes, but is not limited to, statements with respect to the activities, events or
developments that the Company expects or anticipates will or may occur in the future,
including, without limitation, statements with respect to: the Company's funding for its
2026 work program; the timing and completion of the Preliminary Feasibility Study on
the TG zone of Crater Lake; the scope, budget and objectives of the 2026 drilling
campaign and related metallurgical testwork; the progress of the qualification campaign
for the Company's two proprietary aluminum-scandium alloys for L-PBF and WAAM
applications; and the deployment of federal grant funds against defined milestones.
Forward-looking statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable by the Company as of the time of such
statements, are inherently subject to significant business, economic and competitive
uncertainties, and contingencies. These estimates and assumptions may prove to be
incorrect. Many of these uncertainties and contingencies can directly or indirectly affect,
and could cause, actual results to differ materially from those expressed or implied in
any forward-looking statements and future events, could differ materially from those
anticipated in such statements. A description of assumptions used to develop such
forward-looking information and a description of risk factors that may cause actual
results to differ materially from forward-looking information can be found in the
Company’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 achieved or that
assumptions do not reflect future experience. Forward-looking statements are provided
for the purpose of providing information about management’s endeavors to develop the
Crater Lake project, and, more generally, its expectations and plans relating to the
future. Readers are cautioned not to place undue reliance on these forward-looking
statements as a number of important risk factors and future events could cause the
actual outcomes to differ materially from the beliefs, plans, objectives, expectations,
anticipations, estimates, assumptions and intentions expressed in such forward-looking
statements. All of the forward-looking statements made in this press release are
qualified by these cautionary statements and those made in our other filings with the
securities regulators of Canada. The Company disclaims any intention or obligation to
update or revise any forward-looking statement or to explain any material difference
between subsequent actual events and such forward-looking statements, except to the
extent required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
For additional information, please contact :
Scandium Canada Ltd.
Guy Bourassa
Chief Executive Officer
Phone: +1 (418) 580-2320
Email: [email protected]
Website: www.scandium-canada.com
LinkedIn: Scandium Canada Ltd.
X: @ScandiumCanada
Facebook: Scandium Canada
Instagram: @scandiumcanada