SCANDIUM INTERNATIONAL MINING CORP. (TSE:SCY) Files An 8-K Regulation FD Disclosure
Item 7.01
| Regulation FD Disclosure. |
On May 5, 2017, the Company issued a press release entitled SCY
Receives Mining Lease Grant for Nyngan Scandium Project. The
Company announced that its subsidiary company, EMC Metals
Australia, has been granted a mining lease (the Mining
Lease) for the Nyngan Scandium Project in New South
Wales, Australia. The Mining Lease was granted by the Minister
for Resources of the State of New South Wales on May 3, 2017, and
represents the final major approval required from the New South
Wales government to begin construction on the Nyngan Scandium
Project. The Mining Lease was offered for a period of 21 years,
and is based on the development plans and intent submitted in the
mining lease application.
The grant of the Mining Lease triggered an option for the
Companys minority partner, Scandium Investments LLC
(SIL) to convert their 20% interest in EMC
Metals Australia into common shares of the Company, which SIL may
exercise in their sole discretion until mid-June 2017. If SIL
does not exercise the option and elects to retain its 20%
ownership interest in EMC Metals Australia, their free-carry
period for development costs will end, and the partners will be
required to fund development costs on a pro-rata basis to their
ownership of EMC Metals Australia.
A copy of the press release is attached to this report as Exhibit
99.1 and incorporated herein by reference.
In accordance with General Instruction B.2 of Form 8-K, the
information in this report, including the exhibit attached
hereto, shall not be deemed filed for purposes of Section 18 of
the Securities Exchange Act of 1934, as amended (the
Exchange Act), nor shall such information be
deemed incorporated by reference in any filing under the
Securities Act of 1933, as amended, or the Exchange Act,
except as shall be expressly set forth by specific reference in
such a filing.
| Item 9.01 | Financial Statements and Exhibits. |
The following Exhibit relating to Item 7.01 are intended to be
furnished to, not filed with, the SEC to Regulation FD.
| 99.1 | News release dated May 5, 2017. |
About SCANDIUM INTERNATIONAL MINING CORP. (TSE:SCY)
Scandium International Mining Corp. is an exploration-stage mineral exploration and development company. The Company is focused on the development of scandium, rare earth minerals, and other specialty metals, including nickel, cobalt, boron, manganese, tantalum, titanium and zirconium. Its segments include Norway, Australia and the United States. Its principal project is the Nyngan Scandium Project located in New South Wales, Australia. The Company also holds an exploration license referred to as the Honeybugle Scandium property, which is a prospective scandium exploration property located over 20 kilometers from the Nyngan Scandium Project. It also owns of the Tordal Scandium/REE property exploration licenses located in Norway. The Nyngan Scandium Project site is located approximately 450 kilometers northwest of Sydney. The 90-square kilometer Tordal exploration property is prospective for a grouping of specialty metals and rare earth elements. SCANDIUM INTERNATIONAL MINING CORP. (TSE:SCY) Recent Trading Information
SCANDIUM INTERNATIONAL MINING CORP. (TSE:SCY) closed its last trading session up +0.055 at 0.420 with 2,476,110 shares trading hands.
