Scandium International Mining Corp. Announces Major Transition
Scandium International Mining Corp. (TSX: SCY and OTCBB: SCYYF), a leader in the field of scandium production, is making significant strides as it transitions its common shares from the Toronto Stock Exchange (the "TSX") to the TSX Venture Exchange (the "TSXV"). This strategic decision aims to enhance the Company's focus on its Nyngan Scandium project.
Reasons Underpinning the Listing Change
Management, alongside the Board of Directors, has concluded that moving to the TSXV aligns with their long-term growth objectives. A key factor in this decision was an assessment of cost. The costs of maintaining a presence on the TSX weighed heavily against the benefits offered by the TSXV, especially considering the nature and scale of the Company's operations.
Market Capitalization and Listing Compliance
In evaluating the future, Scandium International considered its current market capitalization and the implications of TSX's continued listing requirements. The complexities surrounding private placements and financing made the TSXV appear as the most suitable option for the Company's present focus on developing mineral properties.
Focus on Growth Opportunities
The CEO of Scandium International, Peter Evensen, expressed enthusiasm about this strategic shift, stating, "This move enables us to devote more resources to our Nyngan Scandium project while also exploring potential at our Honeybugle license." This reflects the Company’s commitment to quality over quantity, concentrating on projects that promise greater returns.
Transition Timeline and Key Information
Scandium International plans to finalize its delisting from the TSX around the end of January and expects its shares to be available on the TSXV shortly thereafter. Importantly, shareholders will not need to take any action regarding this transition as it meets all necessary criteria for an acceptable alternative market.
Maintaining Visibility in the Market
The trading symbol "SCY" will remain consistent post-transition, and investors can continue trading shares under the symbol "SCYYF" on the OTCQB platform. This continuity is designed to foster confidence among current and prospective investors.
Company Contact Information
For those interested in further information, Scandium International Mining Corp. offers direct lines of communication for inquiries. You can reach Peter Evensen, the CEO, at (775) 355-9500, or contact Harry de Jonge, the Comptroller, at (702) 703-0178. Investors seeking to get in touch via email can write to ir@scandiummining.com.
Frequently Asked Questions
What prompted Scandium International Mining to change listings?
The move to the TSXV is mainly due to cost efficiency and a better fit for the Company’s current market conditions and development goals.
Will shareholder approval be needed for the transition?
No shareholder approval is required for the shift from the TSX to the TSXV as it is recognized as an acceptable alternative market under current policies.
What will happen to existing shares during the transition?
Existing shares will automatically transition to the TSXV, and shareholders do not need to take any actions regarding their holdings.
How will this transition affect Scandium International’s projects?
This transition is expected to allow the Company to prioritize its resources on developing the Nyngan Scandium project and exploring future opportunities.
Where can I get more information about Scandium International Mining?
Additional information is available via their official contact numbers or the email provided. Investors can also visit their official website.
