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EMC Announces US$2.5M Financing to Secure Nyngan Scandium Project
EMC Announces US$2.5M Financing to Secure Nyngan Scandium Project Sparks, Nevada (F...
About this update from Scandium International Mining Corp.
[{"type":"text","content":"EMC Announces US$2.5M Financing to Secure Nyngan Scandium Project \n\t\t\tbody { font-size: 11pt;\n\t\t\t}\n\n\t\t\t.nr-sub-head ul,\n\t\t\t.nr-body ul {\n\t\t\t\tlist-style-type: disc;\n\t\t\t\tmargin-left: 2em;\n\t\t\t}\n\n\t\t\t.nr-sub-head ol,\n\t\t\t.nr-body ol {\n\t\t\t\tmargin-left: 2em;\n\t\t\t}\n\t\t\t\n\t\t\t.nr-body p, .nr-body {margin-bottom: 0px;\n\t\t\t\t\t-webkit-margin-before: 0px;\n\t\t\t\t\t-webkit-margin-after: 0px;\n\t\t\t\t\tfont-family: Arial !important;\n\t\t\t\t\tfont-size: 11pt !important;\n\t\t\t } \n\n\t\t\ttbody {\n\t\t\t\tborder-top: 0;\n\t\t\t}\t\t\t\n\t\t\t \n\t\t\t H1 {font-weight: bold;\n\t\t\t\tfont-size: 16pt;\n\t\t\t }\n\t\t\t \n\t\t\t H2 {font-weight: bold;\n\t\t\t\tfont-size: 12pt;\n\t\t\t }\n\t\t\t \n\t\t\t H3 {font-weight: bold;\n\t\t\t\tfont-size: 11pt;\n\t\t\t }\n\t\t\t \n\t\t\t \n\t\t\t H1.nr-head {font-family: Trebuchet MS;\n\t\t\t \t\tfont-size: 16pt;\n\t\t\t \t\tcolor: #3D86C6;\n\t\t\t \t\tfont-weight:bold;\n\t\t\t \t\ttext-align:center;\n\t\t\t }\n\t\t\t \n\t\t\t H2.nr-sub-head {font-weight: bold;\n\t\t\t \t\tdisplay: block;\n\t\t\t \t\ttext-align: start;\n\t\t\t \t\tfont-family: Arial;\n\t\t\t\t\tfont-size: 12pt;\n\t\t\t }\n\t\t \n\t\t\t .nr-body a { font-size: 11pt; \n\t\t\t }\n\t\t\t \n\t\t\t TABLE { width: auto!important; \n\t\t\t }\n\t\t\n\t\t EMC Announces US$2.5M Financing to Secure Nyngan Scandium Project\n Sparks, Nevada (FSCwire) - EMC Metals Corp. (the “Company” or “EMC”) (TSX: EMC) is pleased to announce that it today secured a US$2.5M loan facility with Scandium Investments LLC, a company owned by a US private investor group. The proceeds of the loan are intended to extinguish all outstanding financial obligations related to a February 2013 negotiated settlement arrangement securing rights to the Nyngan Scandium Project.  In this regard, the Company repaid today US$1.2M in maturing indebtedness on existing debt, and will use the remaining loan proceeds to pay the final A$1.4M installment of the Nyngan settlement payment due June 30, 2014.  Completion of these two payments secures 100% ownership of the Nyngan Scandium Project for EMC.\n\n\n\nThis US$2.5M loan includes a convertible feature, exercisable by either the lender or EMC into an effective 20% joint venture (JV) interest in both the Company’s Nyngan and Honeybugle Scan...