Scandium Canada (TSX-V:SCD) is voluntarily delisting from the US OTCQB equity market, a move that will help fund the creation of a new division dedicated to commercialising its two aluminium-scandium powders.
The company made the decision following a thorough review of its two main listings – the TSX Venture Exchange and the OTCQB.
Scandium Canada says it has determined that the costs associated with a dual listing are not warranted at this time and the savings from this decision will go to support its new division.
The company, which will be delisted from the OTCQB as of 1 March 2025, announced its plans to create a new division in November last year.
The division will be fully dedicated to the pre-commercialisation efforts of its two patent-pending aluminium-scandium powders and pursuing the development of other aluminium-scandium alloys to engage with end-users.
Dr Luc Duchesne, current Chief Science Officer, previously agreed to lead the new division and subsidiary.
Scandium Canada is leveraging its aluminium-scandium alloy development subsidiary and the development of its Crater Lake project in Québec, Canada to meet the growing need for lighter, greener, longer-lasting, high-performance materials.
Last week, the company revealed it had 3D printed test coupons using its two aluminium-scandium powders at a research facility in Ontario, Canada.
Scandium Canada, which has a market capitalisation of C$6.3 million ($7 million), expects to assess the mechanical properties of these coupons, with and without heat-tempering subsamples, within the next two months.
Once Scandium Canada has the results of this, it will conduct targeted marketing of the powders in industrial sectors with a short adoption cycle and an urgent need for new solutions.
The company’s end goal is for its modified alloy to displace standard 7075 alloys, which are used in industries including aerospace, automotive, and military.
Scandium Canada will be presenting at this year’s Prospectors & Developers Association of Canada (PDAC) event being held from 2-5 March in Toronto, Canada.
The annual award winning convention brings together up to 30,000 attendees from over 130 countries for its educational programming, networking events, as well as business and investment opportunities.
Mining.com.au is an official media partner for the upcoming event.
To register for PDAC 2025 click here.
Write to Angela East at Mining.com.au
Images: Scandium Canada
