Scandium International Announces Private Placement Financing
Scandium International Announces Private Placement
Financing
Vancouver, British Columbia--(Newsfile Corp. - March 1, 2019) - Scandium International Mining Corp. (
TSX:SCY
)
("Scandium
International" or the "Company")
is pleased to announce that it has accepted signed subscriptions from investors for a
private placement of 5,926,289 shares at C$0.18 per share, representing gross proceeds of C$1,066,732.
The primary investor
was Rothschild Asset Management, but the equity placement also reflects a unanimous participation from the SCY Board
members.
No commissions or fees were paid on the transaction.
The proceeds from the financing will be used for general working capital, and specifically for the advancement of the Company's
Nyngan Scandium Project in NSW, Australia.
All securities issued under the private placement will be subject to a Canadian hold period expiring four months after the closing
date. The securities will also be subject to restrictions on resale under U.S. federal securities laws.
Closing of the private
placement has not yet received stock exchange approval.
For inquiries to Scandium International Mining Corp, please contact:
Edward Dickinson (CFO)
Tel: (775) 233-7328
George Putnam (CEO)
Tel: (925) 208-1775
Email:
The securities offered have not 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 unless registered
under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/43149