Business
EMC METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
EMC METALS ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
About this update from Scandium International Mining Corp.
[{"type":"text","content":"\n\n\n\n Nov. 8, 2010 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\n >\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nVANCOUVER, Nov. 8 /CNW/ - EMC Metals Corp. (the "Company")(TSX: EMC) is pleased to announce that it has received subscriptions for a private placement of 7,450,000 units of the Company. The units were offered at $0.10 per unit, resulting in gross proceeds of $745,000. Each unit is comprised of one common share of the Company and one half of a share-purchase warrant. Each full share-purchase warrant will entitle the holder to acquire one common share of the Company at a price of $0.18 for a term of one year from the date of issuance. All securities issued under the non-brokered private placement are subject to a hold period expiring four months after the closing date. Closing of the Private Placement is subject to approval of the Toronto Stock Exchange.\nThe proceeds from this financing will be used for general working capital, including metallurgical test work on the Nyngan Scandium Project Joint Venture in New South Wales (NSW), Australia.\n\n\n >\n\nEMC Metals is focused on application of its in-house and patented mineral recovery technologies to deliver value in specialty metal and rare earth projects. EMC's high priority development opportunity is the Nyngan Scandium Joint Venture with Jervois Mining Ltd. of Melbourne, Australia. The Company released results of it's first National Instrumen...