Scandium Canada Announces Amendment to its Private Placement

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[{"type":"text","content":"Scandium Canada Announces Amendment to its Private Placement\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n MONTRÉAL (QUÉBEC) April\n1\n \n\n st\n \n\n , 2025 –\n \n\n TheNewswire -\n \n\n Scandium Canada Ltd. (TSX-V: SCD) (OTC:\nSCDCF)\n \n\n (the “\n \n\n Corporation\n \n\n ”)\n \n\n\n announces amendment to its previously\nannounced private placement\n \n\n\n (the\n‘‘\n \n\n Offering\n \n\n ’’) on March 5, 2025, as the Corporation now intends to\nenter into unsecured loan agreements with investors (the\n“\n \n\n Investors\n \n\n ”) for maximum gross proceeds of $750,000\n(the “\n \n\n Loan\nAgreements\n \n\n ”).\n \n\n\n\n The Loan Agreements will bear interest at a rate of\n10.00% calculated semi-annually. The interests on the Loan Agreements\nwill start to accrue on closing date of the Offering (the\n“\n \n\n Closing Date\n \n\n ”) and will be calculated and payable semi-annually in cash\nor in\n \n\n common\n \n\n\n shares\nin the capital of the Corporation (the “\n \n\n\n\n Shares\n \n\n\n\n ”), at\nthe sole option of the Investor.\n \n\n\n Principal sum of Loan Agreements will be reimbursed 12 months\n(the “\n \n\n Term\n \n\n ”) from the Closing Date.\n \n\n\n\n Pursuant to the Loan Agreements, the Corporation will\nissue to each Investor\n \n\n benefiting from\nprospectus exemption in accordance with\n \n\n Regulation 45-106 respecting Prospectus\nExemptions\n \n\n on Closing Date, as a loan bonus,\nfully paid and non-assessable Shares (the “\n \n\n Bonus Shares\n \n\n ”),\nwhich will be equal to twenty percent (20%) of the principal amount of\neach Loan Agreement, divided by $0.015. Under the Offering, the\nCorporation may issue up to 10,000,000 Shares.\n \n\n\n\n\n\n The net proceeds of the\nOffering will be primarily use for (i) general administrative expenses\n(66.00%), including among others 9.00% as payment of the\nCorporation’s officers salary, which are\n \n\n Non-Arm’s Length Parties\n \n\n to the Corporation, as this term is defined under the\n \n\n TSX Venture Exchange (the “\n \n\n TSXV\n \n\n ”)\npolicies,\n \n\n and (ii) the development of\naluminium-scandium p...

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