June 6, 2024 — In a recent interview with InvestorNews host Pat Bolland, Guy Bourassa, CEO and Director of Scandium Canada Ltd. (TSXV: SCD | OTCQB: SCDCF), highlighted the progress at their flagship Crater Lake scandium and rare earth project in Quebec. He announced the signing of a pre-development agreement with the Naskapi First Nation, a vital step as they gear up for the summer field campaign. “We’re currently working on preparing our summer field campaign on that project,” Bourassa stated, emphasizing the collaborative effort with the Naskapi Nation.
The interview also covered Scandium Canada’s recent announcement of a rights offering to raise up to $3 million. Bourassa explained the timing and rationale behind this decision, noting the necessity to fund market development efforts and prototype product development. He emphasized the accessibility of the rights offering for all shareholders, explaining that the rights offering is designed to allow non-accredited investors to participate, ensuring all shareholders have the opportunity to maintain their proportional positions. The proceeds from the rights offering will be used to cover administrative costs, market development, and prototyping specific aluminum-scandium alloy parts. Additionally, Bourassa mentioned the importance of a standby commitment agreement, which guarantees up to $1 million of the rights offering, ensuring the company has sufficient working capital for the next 12 months.
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About Scandium Canada Ltd.
Scandium Canada is a Canadian technology metals company focused on advancing its flagship Crater Lake scandium and rare earth project in Québec.
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