Business
EMC METALS COMPLETES SECOND TRANCHE OF PRIVATE PLACEMENT FOR $2.1 MILLION
EMC METALS COMPLETES SECOND TRANCHE OF PRIVATE PLACEMENT FOR $2.1 MILLION
About this update from Scandium International Mining Corp.
[{"type":"text","content":"\n\n\n\n Dec. 3, 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/NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/\n\nTSX: EMC\nwww.emcmetals.com\n\nVANCOUVER, Dec. 3 /CNW/ - EMC Metals Corp. (the "Company") (TSX: EMC) is pleased to announce that it has closed a second tranche of a non-brokered private placement of 11,035,000 common shares at $0.19 per share, for proceeds of $2,096,650. When combined with the first tranche announced on November 25, 2010, the Company raised a total of $3.6 million by issuing 18,929,740 common shares. No warrants or finders fees were issued or paid in connection with the financing.\nIncluding the financing announced November 8, 2010, in the last four weeks, the Company completed three financing rounds for total cash proceeds to the Company of $4,206,650.\nThe proceeds from the financings will be used for metallurgical test work and project development work on the Company's Nyngan Scandium Project Joint Venture in New South Wales (NSW), Australia, and for general working capital.\n\nGeorge Putnam, CEO of EMC commented as follows:\n\n"These recent successful financing rounds provide us with the funding necessary to meet a series of milestones in the development of our Nyngan Scandium Project in Australia. The Nyngan project is on a fast track timeframe to bankable feasibility in early 2012, to satisfy markets for scandium oxide that are largely unsatisfied at this time. The project off...