Scandium International Mining Announces Private Placement RENO, NV / ACCESSWIRE / April 19, 2022 / Scandium International Mining Corp. (TSX:SCY) (the "Company") announces a proposed non-brokered private placement of up to 33,333,333 units (each, a "Unit") at a price of C$0.09 per Unit for gross proceeds of up to C$3,000,000.
Each Unit will consist of one common share of the Company and one share purchase warrant. Each warrant will entitle the holder to acquire one additional common share of the Company at a price of C$0.1075 per share for a period of five years from the date of closing.
The Company intends to use the proceeds of the private placement for general working capital purposes. Closing of the private placement is subject to the acceptance of the Toronto Stock Exchange.
The Company's largest shareholder, Scandium Investments LLC, has agreed to participate in the private placement in an amount of US$500,000.
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