Scandium Canada Announces Extension on Flow-Through Private Placement
August 2, 2024
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE OR
DISSEMINATION DIRECTLY , OR INDIRECTLY , IN WHOLE OR IN PART, IN OR INTO THE UNITED
STATES.
Scandium Canada Announces Extension on Flow-Through Private Placement
MONTRÉAL (QU ÉBEC) – Scandium Can ada Ltd. (TSX-V: SCD) (OTC: SCDCF) (the
“Corporation”) is pleased to announce, following the closing of the two first tranches of its non-brokered
private placement of flow-through shares (the “Private Placement”), its intention to close a third tranche
of the Private Placement on or prior to September 5, 2024
As previously announced, the Private Placement consists of the issuance of a maximum of 60,000,000 units
of the Corporation (the “Units”) at a price of $0.05 per Unit, for aggregate gross proceeds of $3,000,000.
Each Unit consists of one common share of the Corporation (a “Common Share”) that qualifies as “flow-
through share” pursuant to subsection 66(15) of the Income Tax Act (Canada) and one-half Common Share
purchase warrant (each whole, a “Warrant”). Each Warrant entitle s the holder thereof to purchase one
Common Share at an exercise price of $0.10 per Common Share for a period of 24 months from the date of
issuance thereof. If during a period of ten (10) consecutive trading days between the date that is four (4)
months following the closing of the Offering and the expiry of the Warrants the daily volume weighted
average trading price of the Common Shares on the TSX Venture Exchange (the “Exchange”) (or such
other stock exchange where the majority of the trading volume occurs) exceeds $0.18 for each of those ten
(10) consecutive days, the Corporation may, within 30 days of such an occurrence, give written notice to
the holders of the Warrants that the Warrants will expire at 4:00 p.m. (Montréal time) on the 30 th day
following the giving of notice unless exercised by the holders prior to such date. Upon receipt of such notice,
the holders of the Warrants will have 30 days to exercise their Warrants. Any Warrants which remain
unexercised at 4:00 p.m. (Montreal time) on the 30th day following the giving of such notice will expire at
that time.
The net proceeds from the sale of the Units will be mainly used by the Corporation to finance the diamond
drilling program and the environmental data collection on its Crater Lake property of the Corporation.
For more detail regarding the Private Placement, please refer to news releases issued on June 27,
2024 and July 25, 2024.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be
offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act
and applicable state securities laws or an exemption from such registration is available.
About Scandium Canada Ltd.
Scandium Canada is a Canadian technology metals company focused on advancing its flagship Crater Lake
scandium and rare earth project in Québec.
Forward-Looking Statements
All statements, other than statements of historical fact, contained in this press release including, but not
limited to, those relating to the intended use of proceeds of the Private Placement, closing of the Private
Placement, the final approval of the Exchange in connection with the Private Placement, the development
of the Crater Lake project and, generally, the above “About Scandium Canada Ltd.” paragraph which
essentially described the Corporation’ s outlook, constitute “forward-looking information" or “forward-
looking statements ” within the meaning of applicable securities laws, and are based on expectations,
estimates and projections as of the time of this press release. Forward-looking statements are necessarily
based upon a number of estimates and assumption that, while considered reasonable by the Corporation as
of the time of such statements, are inherently subject to significant business, economic and competitive
uncertainties, and contingencies. These estimates and assumption 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 Corp oration’ 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 a re 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 Corporation 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 Exchange nor its Regulation Services Provider (as that term is defined in the policies of the
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact:
Guy Bourassa
Chief Executive Officer
Phone: 1 (418) 580-2320
Rebecca Greco
Investor Relations
Phone: 1 (416) 822-6483