Business
Scandium Canada Announces Closing of a Private Placement of $226,850
(TheNewswire) August 13 , 2024 – TheNewswire – MONTRÉ...
About this update from Scandium Canada Ltd Class A
[{"type":"text","content":"Scandium Canada Announces Closing of a Private Placement of $226,850\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\n\n August\n \n\n 13\n \n\n , 2024 –\n \n\n TheNewswire –\n \n\n MONTRÉAL (QUÉBEC) – Scandium Canada\nLtd.\n \n\n (TSX-V: SCD) (OTC: SCDCF)\n \n\n (the “\n \n\n Corporation\n \n\n ”)\n \n\n\n announces that it has closed its previously announce non-brokered\nprivate placement for gross proceeds of\n \n\n\n\n\n\n $226,849.98\n \n\n\n (the “\n \n\n Offering\n \n\n ”)\n \n\n\n .\n \n\n\n\n The\nOffering consisted of the issuance of\n \n\n\n a\ntotal of\n \n\n\n\n\n 6,028,392\n \n\n\n\n units of the Corporation\n(the “\n \n\n\n\n Units\n \n\n\n\n ”),\n \n\n\n being\n \n\n\n\n 2,857,142\n \n\n Units at a price of $0.035\nper Unit and\n \n\n\n\n 3,171,250\n \n\n Units at a price of $0.04 per\nUnit\n \n\n\n . Each\n \n\n\n Unit\nconsists of one common share of the Corporation (the “\n \n\n Common Shares\n \n\n ”) and\none Common Share purchase warrant (the “\n \n\n Warrants\n \n\n ”). Each\nWarrant entitles the holder thereof to purchase one Common Share at an\nexercise price of $0.05 per Common Share for a period of 24 months\nfrom the date of issuance thereof. The Corporation also announces its\nintention to close a second tranche of the Offering of Units at a\nprice of $0.04 per Unit on or prior to August 26, 2024, for aggregate\ngross proceeds of $1,000,000.\n \n\n\n\n The net proceeds from the sale of the Units will be\nmainly used by the Corporation\n \n\n\n\n for general and corporate working\ncapital purposes\n \n\n .\n \n\n\n\n No finder’s fees were paid in connection with the\nOffering.\n \n\n The Common Shares and the Warrants\nissued pursuant to this Offering are subject to a restricted hold\nperiod of four months and one day, ending on December 14, 2024, under\napplicable Canadian securities laws. The Offering remains subject to\nthe final approval of the Exchange.\n \n\n\n\n Under the Offering,\n \n\n\n\n an insider of the Corporation\npurchased a total of\n \n 500,000\n \n Units for a total\nconsideration of $\n \n 20,000\n \n which constitutes a\n“related party transaction” within the meaning of Regulatio...