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Scandium International Mining Corp., an exploration stage company, focuses on the exploration, evaluation, and development of specialty metals assets in Australia. The company explores scandium, rare earth minerals, nickel, cobalt, boron, manganese, tantalum, titanium, and zirconium. With the main focus on the Nyngan Scandium Project in New South Wales, Australia, the company aims to develop and produce these specialty metals.
Scandium International Mining Corp (TSX:SCY, OTCBB:SCYYF) has announced its planned transition from the Toronto Stock Exchange (TSX) to the TSX Venture Exchange (TSXV). The company has received conditional approval for the TSXV listing and will voluntarily delist from the TSX. The delisting from TSX is expected around January 31, 2025, with TSXV listing following on February 4, 2025.
The decision was based on several factors, including cost considerations, TSX listing requirements, current market capitalization, and financing options available to TSXV-listed companies. The company will maintain its 'SCY' trading symbol on TSXV and continue trading as 'SCYYF' on OTCQB. No shareholder action is required for this transition, and the company will remain a reporting issuer under Canadian securities laws.
Scandium International Mining Corp (TSX:SCY, OTCBB:SCYYF) announced filing Form 15 with the SEC to voluntarily deregister its common shares and suspend reporting obligations under the Securities Exchange Act. The deregistration, expected to be effective within 90 days, will eliminate the requirement to file Forms 10-K, 10-Q, and 8-K with the SEC. The company will continue following Canadian reporting requirements and IFRS accounting standards. This decision aims to reduce reporting complexity and costs while allowing management to focus on core business activities, including the development of its Nyngan Scandium project in New South Wales, Australia.
On June 3, 2024, Scandium International Mining held its annual general meeting where all proposed resolutions were passed. The shareholders approved setting the number of directors at four and re-elected all director nominees, including William B. Harris, James R. Rothwell, Peter B. Evensen, and R. Christian Evensen. Shareholders also re-appointed Davidson & Company LLP as the company's auditor and extended the stock option plan entitlements until June 3, 2027. A total of 102,782,595 shares, representing 28.88% of the issued and outstanding shares, were represented at the meeting.
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