Scandium Canada Increases Financing to C$15 Million for Crater Lake Project in Quebec

Scandium Canada (TSX-V:SCD) announced the upsizing of its brokered private placement to C$15 million, approximately US$15.55 million. The company has entered into an amended agreement with Research Capital Corporation to support the development of its Crater Lake project in Quebec, Canada.

Under the agreement, Scandium Canada will issue 68.18 million units at a price of C$0.22 per unit. Each unit consists of one common share and one warrant, allowing the holder to purchase one additional share at C$0.30 within 30 months.

Research Capital Corporation, acting as the lead underwriter and sole bookrunner, will handle the capital raise on behalf of the underwriting syndicate. The underwriters have also agreed to purchase up to an additional 10.22 million units for C$2.25 million, on the same terms as the initial offering.

The proceeds will be used for expenditures and advancement work on the Crater Lake project located in Quebec, Canada. Additionally, a portion of the funds will be allocated to the research, development, and pre-commercialization stages of the company's proprietary aluminum-scandium alloy.

The brokered private placement is expected to close on or about March 17, 2026. Scandium Canada is focused on developing what is considered North America's largest scandium resource, aiming to contribute to global carbon reduction goals.