4 Dec 2024listing compliance notice▼ BadMajor
SCANDIUM INTERNATIONAL MINING CORP. deregistered its securities, ending its obligation to file reports with the SEC.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 June 2022capital raising announcement▲ Good
Scandium International closed the third and final tranche (C$287,190), bringing the full private placement to C$3,402,290 -- comfortably above the original C$3 million target.
6 June 2022capital raising announcement▲ GoodMajor
Scandium International closed the second tranche (C$1,029,850) and upsized its private placement -- from a C$3 million target to C$3,568,023 -- after strong investor demand. Interim CEO Peter Evensen and Chairman William Harris said the raise put the company in its best cash position in years with no debt, positioning it for the growing scandium-aluminum alloy market.
24 May 2022capital raising announcement▲ GoodMajor
After a roughly three-year gap in story-bearing filings, Scandium International closed the first tranche of a new private placement -- C$2,085,250 from 23.17 million units at C$0.09 -- with heavy insider participation: all four board members subscribed (two directly, two through Scandium Investments LLC, which itself put in US$500,000), a related-party transaction cleared under TSXV/MI 61-101 minority-protection rules. The raise was framed as backing a 'renewed focus' on Nyngan amid rising interest in scandium-aluminum alloys.
What it means for a shareholder
23.2m new shares at C$0.090 to raise about C$2.1m. That's 6.8% dilution: every existing holder's slice gets 6.8% smaller. If you held C$1,000 of shares (11,111 at the issue price), your slice goes from 0.0035% to 0.00326% of the company. To keep it you'd need 812 more shares - about C$73 at the issue price.
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24 May 2022capital raising announcement▲ Good
An apparent duplicate filing of the same-day first-tranche private placement announcement (C$2,085,250 raised, insider-heavy participation via board members and Scandium Investments LLC) -- identical filename and content to the other 2022-05-24 8-K, logged as a possible duplicate document_event rather than a distinct filing.
22 Mar 2019capital raising announcement▲ Good
Scandium International closed the private placement announced March 1, raising CAD$1,066,734 selling 5,926,301 shares at CAD$0.18 to ten investors.
What it means for a shareholder
5.9m new shares at C$0.180 to raise about C$1.1m. That's 1.9% dilution: every existing holder's slice gets 1.9% smaller. If you held C$1,000 of shares (5,556 at the issue price), your slice goes from 0.00182% to 0.00179% of the company. To keep it you'd need 108 more shares - about C$19 at the issue price.
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4 Mar 2019capital raising announcement● Neutral
Scandium International announced a private placement financing, closed and detailed three weeks later.
9 May 2018capital raising announcement▲ Good
Scandium International closed another CAD$1,092,940 private placement at CAD$0.18/share.
24 Apr 2018capital raising announcement▲ Good
Scandium International announced a further CAD$900,000 private placement (5,000,000 shares at CAD$0.18) to a single non-US investor.
What it means for a shareholder
5.0m new shares at C$0.180 to raise about C$900,000. That's 1.7% dilution: every existing holder's slice gets 1.7% smaller. If you held C$1,000 of shares (5,556 at the issue price), your slice goes from 0.00186% to 0.00183% of the company. To keep it you'd need 93 more shares - about C$17 at the issue price.
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23 Mar 2018capital raising announcement▲ Good
Scandium International raised CAD$1,031,250 selling 5,729,167 shares at CAD$0.18.
What it means for a shareholder
5.7m new shares at C$0.180 to raise about C$1.0m. That's 1.9% dilution: every existing holder's slice gets 1.9% smaller. If you held C$1,000 of shares (5,556 at the issue price), your slice goes from 0.0019% to 0.00186% of the company. To keep it you'd need 109 more shares - about C$20 at the issue price.
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5 Mar 2018capital raising announcement● Neutral
Scandium International announced the closing of a private placement financing without specifying its size in this filing (see the March 21 and May 4, 2018 filings for the actual tranches with figures).
11 Oct 2017asset acquisition disposition▲ GoodMajor
Scandium International closed the share exchange with Scandium Investments LLC, issuing 58,830,645 shares (about a quarter of the company) to take full ownership of Nyngan and Honeybugle. Scandium Investments -- an investment vehicle of the Evensen family -- became the company's largest shareholder, and Peter Evensen and Christian Evensen joined the board.
4 Aug 2017capital raising announcement▲ Good
Scandium International closed the CAD$1,088,500 private placement announced two weeks earlier, at CAD$0.30/share.
26 July 2017material agreement● NeutralMajor
Scandium International agreed to buy back Scandium Investments LLC's 20% direct stake in Nyngan/Honeybugle-holding subsidiary EMC Australia, paying with 57.4 million shares (25% of the company) plus an adjustment payment, in exchange for full (100%) corporate ownership of the projects. The deal also gives Scandium Investments the right to nominate two board directors while holding at least 15% of the company (one director at 5-15%) -- converting it from an asset-level JV partner into the company's controlling shareholder with board representation.
21 July 2017capital raising announcement▲ Good
Scandium International announced a CAD$1,088,500 private placement -- at a notably higher share price than 2014-2015's raises, reflecting improved sentiment after the positive Nyngan feasibility study.
10 May 2016resource reserve update● Neutral
The formal NI 43-101 Feasibility Study technical report on Nyngan was filed on SEDAR, backing up April's positive DFS announcement.
20 Apr 2016resource reserve update▲ GoodMajor
Scandium International announced positive results from its Definitive Feasibility Study on the now-80%-owned Nyngan Scandium Project, led by Lycopodium -- confirming the project's technical and economic viability and clearing the way toward construction financing.
19 Oct 2015material agreement▲ GoodMajor
Scandium International sold a 0.7% royalty on future Nyngan and Honeybugle mineral sales to Umgeni Holdings International for US$2.07 million cash -- a royalty-based, non-dilutive way to fund the project toward construction, though it permanently encumbers the asset's revenue.
14 Sept 2015resource reserve update▲ GoodMajor
Scandium International engaged Lycopodium Minerals to prepare a Definitive Feasibility Study on Nyngan -- the step needed to make the project ready to seek construction financing.
4 Sept 2015capital raising announcement● Neutral
Scandium International paid CAD$223,748 of accrued loan interest in shares and raised a further CAD$198,285 in a small private placement, both at CAD$0.10/share.
26 May 2015resource reserve update● Neutral
The company filed an amended technical report and preliminary economic analysis on Nyngan, addressing the securities regulator's review.
15 May 2015resource reserve update▼ Bad
Now renamed Scandium International Mining Corp., the company issued a clarifying release on its technical disclosure after a review by the British Columbia Securities Commission.
15 Oct 2014resource reserve update▲ GoodMajor
EMC Metals announced a positive preliminary economic assessment on the Nyngan Scandium Project in Australia -- the first major technical validation of the flagship scandium asset since resolving the Jervois dispute.
28 Aug 2014capital raising announcement▲ Good
A third tranche at CAD$0.085/share raised CAD$470,425, rounding out a summer 2014 financing push.
15 July 2014capital raising announcement▲ Good
A further CAD$394,505 raised at the same CAD$0.085 price.
2 July 2014capital raising announcement▲ Good
EMC Metals raised CAD$885,309 at CAD$0.085/share -- a notably higher price than the CAD$0.025 raises earlier in the year, suggesting improved sentiment after the Scandium Investments financing.
30 June 2014debt financing▲ GoodMajor
EMC Metals secured a US$2.5 million loan from Scandium Investments LLC, a US private investor group -- the first appearance of the investor that would later become the company's controlling shareholder -- to pay off the remaining Jervois settlement obligations on Nyngan. The loan converts into an effective 20% joint-venture interest in the Nyngan and Honeybugle scandium projects, with Scandium Investments carried until EMC files a feasibility study and obtains a mining license.
1 May 2014capital raising announcement▲ Good
A further CAD$103,054 raised at the same CAD$0.025 price -- continued thin financing during the scandium-focus transition.
31 Mar 2014capital raising announcement▲ Good
EMC Metals raised CAD$213,332 in a small private placement at CAD$0.025/share, reflecting a depressed share price as the company narrowed its focus to scandium.
3 Jan 2014asset acquisition disposition▲ GoodMajor
EMC Metals completed the sale of Springer Mining, Copper King and Carlin Vanadium to Americas Bullion Royalty Corp for $5 million cash -- a related-party transaction (the companies shared a common director) that exited EMC from tungsten and vanadium entirely, leaving Nyngan and Honeybugle scandium as its focus.