Scandium Canada Closes First Tranche of Private Placement

Imperial Mining Group Ltd. Class A ( (TSE:SCD) ) just unveiled an update.

Scandium Canada Ltd. has announced the closing of the first tranche of its non-brokered private placement, raising $410,000 through unsecured loan agreements. The proceeds will be used primarily for administrative expenses and the development of aluminum-scandium powders. The company plans to close subsequent tranches to raise a total of $750,000, which will further support its strategic initiatives in the scandium market.

More about Imperial Mining Group Ltd. Class A

Scandium Canada Ltd. is a public company focused on becoming a leading source of scandium and advancing the development and commercialization of aluminum-scandium alloys. The company aims to meet the demand for high-performance materials through its Al-Sc alloy development subsidiary and the Crater Lake mining project, with a commitment to innovation and sustainable economic practices.

YTD Price Performance: -25.00%

Average Trading Volume: 242,679

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$4.69M

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