Home > Boards > Canadian > Mining/Resources > SCANDIUM INTERNATIONAL MINING CORP (SCY)

Scandium International Consolidates 100% Ownership of Nyngan Scandium Project

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
BL4Nio Member Profile
 
Followed By 1
Posts 163
Boards Moderated 0
Alias Born 03/16/16
160x600 placeholder
BL4Nio   Thursday, 06/15/17 12:21:16 PM
Re: None
Post # of 262 
Scandium International Consolidates 100% Ownership of Nyngan Scandium Project

Scandium International Consolidates 100% Ownership of Nyngan Scandium Project
Quote:
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.







Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist