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An announcement from Imperial Mining Group Class A ( (TSE:SCD) ) is now available.
Scandium Canada Ltd. has entered into a debt settlement agreement with an arm’s length creditor to convert $84,800 of liabilities, incurred for services on its Crater Lake project, into equity by issuing 513,939 common shares at $0.165 per share, subject to TSX Venture Exchange approval and a four-month-plus-one-day hold period. By opting for a shares-for-debt transaction with no insider participation or brokerage involvement, the company aims to preserve cash, strengthen its balance sheet, and better manage its financial resources as it advances development of its scandium-focused operations.
More about Imperial Mining Group Class A
Scandium Canada Ltd. is a TSX Venture-listed public company focused on developing what it aims to be the world’s leading primary source of scandium, with the goal of enabling the wider use and commercialization of aluminum-scandium alloys. Through its alloy development subsidiary and its flagship Crater Lake mining project, the company targets the growing demand for lighter, more sustainable, high-performance materials and seeks to position itself as a market leader in scandium while emphasizing innovation and responsible economic development.
Average Trading Volume: 1,240,852
Technical Sentiment Signal: Buy
Current Market Cap: C$55.23M
For an in-depth examination of SCD stock, go to TipRanks’ Overview page.