SCANDIUM INTERNATIONAL MINING CORP. (TSE:SCY) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02
On August 2, 2017, the Company completed a private placement of 3,628,333 shares of common stock at a price of CAD$0.30 per share for total proceeds of CAD$1,088,500. The securities were sold to two accredited investors to Rule 506 of Regulation D and to a non-US person to Regulation S under the United States Securities Act of 1933, as amended.
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.
