Scandium Canada Ltd. announced a non-brokered private placement with investors to issue 3,076,923 Units at a price of CAD 0.035 per unit for the gross proceeds of CAD 107,692.305 on July 12, 2024. Each Unit consists of one Common Share and one Common Share purchase warrant. Each Private Placement Warrant entitles the holder thereof to purchase one Common Share at an exercise price of CAD 0.05 per Common Share for a period of 24 months from the date of issuance thereof.

The Common Shares and the Private Placement Warrants issued under this Private Placement will be subject to a restricted hold period of four months and one day following the closing of the Private Placement under applicable Canadian securities laws. The Private Placement remains subject to the final approval of the TSX Venture Exchange.