Scandium Canada Announces Closing of the First Tranche of its Private Placement

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[{"type":"text","content":"Scandium Canada Announces Closing of the First Tranche of 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\n3\n \n\n rd\n \n\n , 2025 –\n \n\n TheNewswire -\n \n\n Scandium Canada Ltd. (TSX-V:SCD)\n \n\n (the “\n \n\n Corporation\n \n\n ”)\n \n\n is\npleased to\n \n\n\n announce, the closing of the first\ntranche of its previously announced, on March 25 and April\n1\n \n\n\n\n st\n \n\n\n\n , 2025, non-brokered private placement\n \n\n\n (the “\n \n\n Offering\n \n\n ”)\n \n\n\n by way of unsecured loan agreements\n(the “\n \n\n\n\n Loan Agreements\n \n\n\n\n ”) for aggregate gross proceeds\nof $410,000.\n \n\n\n\n\n The Loan Agreements bear interest at a rate of 10.00%\ncalculated semi-annually. The interest on the Loan Agreements starts\nto accrue on closing date of the Offering (the “\n \n\n Closing Date\n \n\n ”) and\nis calculated and payable semi-annually in cash or in\n \n\n common\n \n\n\n shares in the capital of the Corporation\n(the “\n \n\n\n\n Shares\n \n\n\n\n ”), at the sole option of the investors\n(the “Investors”).\n \n\n\n Principal sum of\nLoan Agreements will be reimbursed 12 months (the “\n \n\n Term\n \n\n ”) from the\nClosing Date.\n \n\n\n\n Pursuant to the Loan Agreements, the Corporation issued\nto Investors benefiting from prospectus exemption in accordance with\n \n\n Regulation 45-106 respecting\nProspectus Exemptions\n \n\n on Closing Date, as a loan\nbonus, an aggregate of 5,466,667 fully paid and non-assessable Shares\n(the “\n \n\n Bonus\nShares\n \n\n ”), which is equal to twenty percent\n(20%) of the principal sum of the Loan Agreements, divided by $0.015.\n \n\n\n\n The net proceeds of the Offering will be primarily used\nfor (i) general administrative expenses (66.00%), including among\nothers 9.00% as payment of the Corporation’s officers salary, which\nare\n \n\n Non-Arm’s Length\nParties\n \n\n to the Corporation, as this term is\ndefined under the\n \n\n TSX Venture Exchange\n(the “\n \n\n TSXV\n \n\n ”) policies,\n \n\n and (ii) the development\nof aluminium-scandium powders (34.00%). The gross pro...

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