Breaking News: Scandium International Mining Takes a Bold Step – Files Form 15 to Deregister and Suspend SEC Reporting Obligations!

By: John Smith | December 4, 2024

RENO, Nev., Dec. 04, 2024 (GLOBE NEWSWIRE) — Scandium International Mining Corp. (TSX:SCY and OTCBB: SCYYF) (“Scandium International” or the “Company”), a company focused on the development of its Nyngan Scandium project in New South Wales, Australia, today announced that it has filed a Form 15 with the Securities and Exchange Commission (the “SEC”) to deregister its class of common shares under Section 12(g) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and to suspend its reporting obligations under Section 15(d) of the Exchange Act (the “Deregistration”). The Company’s obligation to file periodic reports with the SEC, including reports on Forms 10-K, 10-Q and 8-K, will be suspended immediately upon filing of the Form 15. Once the Form 15 is effective, which is expected to occur within 90 days of filing, the Company will follow Canadian reporting requirements including IFRS accounting standards and will no longer be an SEC reporting company in the United States and its obligations to file other reports with the SEC will also be suspended.

How This Will Affect You:

As an investor in Scandium International Mining Corp, this move may have implications on the transparency and visibility of the company’s financial health and performance. With the suspension of SEC reporting obligations, you may need to rely on Canadian reporting requirements to assess the company’s status and make informed investment decisions. It is important to stay updated on the company’s financial updates through alternative sources.

How This Will Affect the World:

Scandium International Mining Corp’s decision to deregister and suspend SEC reporting obligations may impact the global investment community’s perception of the company’s credibility and oversight. It could raise questions about the transparency and governance practices of the company, potentially affecting its reputation on an international scale. Investors and stakeholders worldwide may need to adjust their approach in monitoring and evaluating Scandium International Mining Corp’s operations and financial performance.

Conclusion:

In conclusion, Scandium International Mining Corp’s filing of Form 15 to deregister and suspend SEC reporting obligations marks a significant shift in its reporting practices and regulatory compliance. This decision will have varying effects on investors and the global investment landscape, highlighting the importance of staying informed and adapting to changes in regulatory requirements. It remains to be seen how this move will shape the future trajectory of the company and its relationship with stakeholders.