Business
Scandium Canada Announces Extension on Flow-Through Private Placement
(TheNewswire) August 2, 2024 – TheNewswire – MONTRÉAL (QUÉB...
About this update from Scandium Canada Ltd Class A
[{"type":"text","content":"Scandium Canada Announces Extension on Flow-Through 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 August 2, 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 is\npleased to announce, following the closing of the two first tranches\nof its non‑brokered private placement of flow-through shares (the\n“\n \n\n Private\nPlacement\n \n\n ”), its intention to close a third\ntranche of the Private Placement on or prior to September 5, 2024\n \n\n\n\n As previously announced, the Private Placement consists\nof the issuance of a maximum of 60,000,000\n \n\n\n units of\nthe Corporation (the “\n \n\n\n\n Units\n \n\n\n\n ”) at a price of $0.05 per\nUnit, for aggregate gross proceeds of $3,000,000.\n \n\n\n\n\n\n Each\n \n\n\n Unit consists of one common share\nof the Corporation (a “\n \n\n Common Share\n \n\n ”)\n \n\n that\nqualifies as “flow-through share” pursuant to subsection 66(15) of\nthe\n \n\n Income Tax\nAct\n \n\n (Canada)\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 Warrants will\nhave 30 days to exe...