Scandium Canada (TSX-V:SCD) has signed a debt settlement agreement with an arm’s length creditor for a total of C$84,800 ($91,119).
The debt will be issued in shares and covers a portion of the services rendered for the Crater Lake Project in Nunavik, Québec.
Scandium will settle the debt by the issuance of 513,939 shares at a price of $0.165 per share.
Shares will be held under a mandatory hold period of four months and one day from the issue date.
As reported by Mining.com.au, the company intends to complete a Prefeasibility Study for the Crater Lake Project in the first half of 2026.
Crater Lake is considered the largest primary source of scandium in North America, holding a resource of 20.9 million tonnes in the indicated category and 16.3 million tonnes in the inferred category.
The scandium market was valued at US$591.95 million ($906.2 million) in 2024, according to Straits Research.
The market is projected to reach from US$643.45 million by 2025 to US$1.254 billion by 2033, growing at a CAGR of 8.7%.
Write to Maddison Elliott at Mining.com.au
Images: Scandium Canada
