Scandium Canada (TSX-V:SCD) has entered into an amended agreement with Research Capital Corporation to increase the size of a previously reported bought-deal offering to C$15 million ($15.55 million).
A bought deal is a financial underwriting contract where an investment bank or syndicate will purchase the entirety of securities on offer.
The company will issue 68.18 million units at C$0.22 each, comprising one share and one purchase warrant. Each warrant held will allow the shareholder to acquire one additional share at C$0.30 over a 30-month period.
Research Capital is acting as the lead underwriter and sole bookrunner for this capital raise, acting on behalf of a syndicate of underwriters.
The underwriters have agreed to purchase up to an additional 10.22 million units on the same terms for an additional C$2.25 million.
Scandium Canada will use the funds for project expenditure and work on the Crater Lake Project located in Québec, Canada, as well as development and pre-commercialisation work on its proprietary aluminium-scandium alloys.
The offering will close on or about 17 March 2026.
Scandium Canada is currently developing North America’s largest primary source of scandium, with the aim of contributing to global efforts toward reducing carbon emissions.
Write to Aaliyah Rogan at Mining.com.au
Images: Scandium Canada
