Scandium International Mining Corp. announced a non-brokered private placement of up to 33,333,333 units at a price of CAD 0.09 per unit for gross proceeds of CAD 2,999,999.97 on April 19, 2022. Each unit will consist of one common share and one common share purchase warrant of the company.

Each warrant will entitle the holder to acquire one additional common share at an exercise price of CAD 0.1075 per share for a period of 5 years from the closing date. The transaction included participation from returning investor, Scandium Investments LLC for 7,005,334 units for gross proceeds of $500,000 (CAD 630,480). The transaction is subject to acceptance by the Toronto Stock Exchange.