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Imperial Mining Group Class A ( (TSE:SCD) ) has shared an update.
Scandium Canada Ltd. announced an upsizing of its private placement to C$564,500 due to strong demand, including from existing shareholders. The offering, which is oversubscribed, involves the issuance of units comprising common shares and purchase warrants, with proceeds primarily allocated for general corporate purposes. The securities are subject to a four-month hold period under Canadian securities laws, and the offering awaits approval from the TSX Venture Exchange. This move is expected to bolster the company’s financial position, aiding its efforts to become a market leader in scandium production.
More about Imperial Mining Group Class A
Scandium Canada Ltd. is a public company focused on becoming a leading producer of scandium, particularly through the development of aluminum-scandium (Al-Sc) alloys. The company is leveraging its Al-Sc alloy development subsidiary and the Crater Lake mining project to meet the demand for high-performance materials that are lighter, greener, and longer-lasting. Scandium Canada is committed to innovation and agility in building a more responsible economy.
Average Trading Volume: 877,514
Technical Sentiment Signal: Strong Sell
Current Market Cap: C$8.37M
For detailed information about SCD stock, go to TipRanks’ Stock Analysis page.