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Imperial Mining Group Class A ( (TSE:SCD) ) just unveiled an announcement.
Scandium Canada Ltd. has closed a C$17.25 million bought-deal private placement, issuing more than 78 million units at C$0.22 each, including the full exercise of the over-allotment option. The financing, led by Research Capital Corporation with Red Cloud Securities Inc., still requires final TSX Venture Exchange approval and included cash commissions and broker warrants to the underwriters.
Each unit consists of one common share and one warrant exercisable at C$0.30 until September 17, 2028, providing additional potential equity upside for investors. Net proceeds will fund project work at the company’s Crater Lake scandium project, support development and pre-commercialization of its proprietary aluminum-scandium alloys, and bolster general corporate and working capital needs, strengthening its ability to advance toward commercial production.
More about Imperial Mining Group Class A
Scandium Canada Ltd. is a publicly listed materials company focused on developing what it aims to be the world’s leading primary source of scandium, a critical metal used to enhance aluminum alloys. Leveraging its Crater Lake mining project and an in-house aluminum-scandium alloy development division, the company targets growing demand for lighter, more efficient, and environmentally responsible high-performance materials, positioning itself as a future market leader in scandium-based solutions.
Average Trading Volume: 2,814,828
Technical Sentiment Signal: Buy
Current Market Cap: C$65.36M
For an in-depth examination of SCD stock, go to TipRanks’ Overview page.