Scandium Canada Announces Upsizing of its Private Placement
July 17, 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 Upsizing of its Private Placement
MONTRÉAL (QU ÉBEC) – Scandium Can ada Ltd. (TSX-V: SCD) (OTC: SCDCF) (the
“Corporation”) is pleased to announce that its ongoing private placement, previously announced
by news release dated July 12, 2024, has been increased from $100,000 to $1,000,000 due to excess
demand.
The Corporation now intends to complete a non -brokered private placement offering of up to
6,607,142 units (“Units”), being 2,857,142 Units at a price of $0.0 35 per Unit and 22,500,000
Units at a price of $0.04 (the “Private Placement”), for total gross proceeds of up to $1,000,000.
Each Unit will consist of one common share in the capital of the Corporation (a “Common Share”)
and one Common Share purchase warrant (a “ Warrant”), with each Warrant entitling the holder
thereof to acquire an additional Common Share at an exercise price of $0.0 5 per Common Share
for 24 months after the date of issuance.
The net proceeds from the sale of the Units will be mainly used by the Corporation for general and
corporate working capital purposes.
The Common Shares and the Warrants issued under this Private Placement will be subject to a
restricted hold period of four months and one day following the closing of the Private Placement
under applicable Canadian securities laws. The Private Placement remains subject to the final
approval of the TSX Venture Exchange.
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 contingenci es 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 Corporation’ 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 TSX V enture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX V enture 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