Business
Scandium Canada Announces Closing of a Second of its Private Placement for Additional Gross Proceeds of $473,000
(TheNewswire) July 25, 2024 – TheNewswire – MONTRÉAL (QU...
About this update from Scandium Canada Ltd Class A
[{"type":"text","content":"Scandium Canada Announces Closing of a Second of its Private Placement for Additional Gross Proceeds of $473,000\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 July 25, 2024 –\n \n \n TheNewswire\n \n \n –\n \n \n MONTRÉAL (QUÉBEC) – Scandium Canada Ltd.\n \n \n (TSX-V: SCD) (OTC: SCDCF)\n \n \n (the “\n \n \n Corporation\n \n \n ”)\n \n \n \n announces the completion of a second tranche of its previously\nannounced non-brokered private placement of flow-through shares, for\nadditional gross proceeds of $473,000\n \n \n \n (the “\n \n \n Offering\n \n \n ”)\n \n \n \n .\n \n \n \n \n The\nsecond tranche of the Offering consisted of the issuance of 9,460,000\nunits of the Corporation (the “\n \n \n \n \n Units\n \n \n \n \n ”) at\na price of $0.05 per Unit. Each\n \n \n \n Unit\nconsists of one common share of the Corporation (a “\n \n \n Common Share\n \n \n ”)\n \n \n that qualifies as “flow-through share”\npursuant to subsection 66(15) of the\n \n \n Income Tax Act\n \n \n (Canada) (the “\n \n \n Tax\nAct\n \n \n ”)\n \n \n , and one-half\nCommon Share purchase warrant (each whole, a “\n \n \n Warrant\n \n \n ”). Each\nWarrant entitles the holder thereof to purchase one Common Share at an\nexercise price of $0.10 per Common Share for a period of 24 months\nfrom the date of issuance thereof. If during a period of ten (10)\nconsecutive trading days between the date that is four (4) months\nfollowing the closing of the Offering and the expiry of the Warrants\nthe daily volume weighted average trading price of the Common Shares\non the TSX Venture Exchange (the “\n \n \n Exchange\n \n \n ”) (or such\nother stock exchange where the majority of the trading volume occurs)\nexceeds $0.18 for each of those ten (10) consecutive days, the\nCorporation may, within 30 days of such an occurrence, give written\nnotice to the holders of the Warrants that the Warrants will expire at\n4:00 p.m. (Montréal time) on the 30\n \n \n th\n \n \n day following\nthe giving of notice unless exercised by the holders prior to such\ndate. Upon receipt of such notice, the holders of the War...