Scandium International Closes Private Placement Financing
Scandium International Closes Private Placement
Financing
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2018) - Scandium International Mining Corp. (
TSX: SCY
)
("Scandium
International" or the "Company"
) is pleased to announce that it has closed a private placement of 6,071,900 shares at
C$0.18 per share for gross proceeds of C$1,092,492.
The Company announced previously (April 23, 2018) receipt of
C$900,000 in the private placement, but additional funds of C$192,492 were raised prior to the Closing from a private investor.
The primary investor was Rothschild Asset Management.
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 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.