Scandium International Mining Corp (SCY)

[BL4Nio]

Scandium International Consolidates 100% Ownership of Nyngan Scandium Project

Scandium International Consolidates 100% Ownership of Nyngan Scandium Project

Scandium International Mining Corp. (TSX:SCY) ("Scandium International" or the "Company") is pleased to announce that it has signed a Memorandum of Understanding and reached agreement with Scandium Investments LLC ("SIL"), to acquire SIL's 20% ownership of EMC Metals Australia Pty Ltd, ("EMC-A"). The transaction will increase the Company's ownership of EMC-A from 80% to 100%. EMC-A holds both the Nyngan and Honeybugle scandium projects located in New South Wales, Australia. The Company will issue 57,371,565 shares of the Company to acquire SIL's shares of EMC-A, representing 20% of the issued shares of the Company on a post-transaction basis. The transaction is considered non-dilutive to existing SCY shareholders. The Company will issue 57,371,565 shares of the Company to acquire SIL's shares of EMC-A, representing 20% of the issued shares of the Company on a post-transaction basis. The transaction is considered non-dilutive to existing SCY shareholders


HIGHLIGHTS:

Transaction consolidates SCY ownership in Nyngan/Honeybugle Projects to 100%,

Will accelerate development of Nyngan Scandium Project through better alignment,

Transaction considered non-dilutive to existing SCY shareholders,

SIL becomes largest Company shareholder, and

SIL to nominate two directors to the Company's board of directors.