SCANDIUM INTERNATIONAL MINING FILES FORM 15 TO VOLUNTARILY DEREGISTER AND SUSPEND ITS SEC REPORTING OBLIGATIONS
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.
Scandium International Mining Corp (TSX:SCY, OTCBB:SCYYF) ha annunciato la presentazione del Modulo 15 presso la SEC per deregistrare volontariamente le proprie azioni ordinarie e sospendere gli obblighi di reporting ai sensi del Securities Exchange Act. La deregistrazione, che dovrebbe entrare in vigore entro 90 giorni, eliminerà l'obbligo di presentare i Moduli 10-K, 10-Q e 8-K alla SEC. L'azienda continuerà a seguire i requisiti di reporting canadesi e gli standard contabili IFRS. Questa decisione mira a ridurre la complessità e i costi del reporting consentendo alla direzione di concentrarsi sulle attività aziendali core, inclusa la sviluppo del progetto Nyngan Scandium nel New South Wales, Australia.
Scandium International Mining Corp (TSX:SCY, OTCBB:SCYYF) anunció la presentación del Formulario 15 ante la SEC para deregistrar voluntariamente sus acciones comunes y suspender las obligaciones de informes bajo la Ley de Valores. Se espera que la deregistración, que será efectiva en un plazo de 90 días, elimine la necesidad de presentar los Formularios 10-K, 10-Q y 8-K ante la SEC. La compañía continuará cumpliendo con los requisitos de presentación de informes de Canadá y los estándares contables IFRS. Esta decisión tiene como objetivo reducir la complejidad y los costos de informes mientras permite a la administración enfocarse en las actividades centrales del negocio, incluida la desarrollo de su proyecto Nyngan Scandium en Nueva Gales del Sur, Australia.
스칸듐 인터내셔널 마이닝 코퍼레이션 (TSX:SCY, OTCBB:SCYYF)는 SEC에 모양 15를 제출하여 자발적으로 보통주를 등록 해제하고 증권 거래법에 따른 보고 의무를 중단한다고 발표했습니다. 등록 해제는 90일 이내에 발효될 것으로 예상되며 SEC에 10-K, 10-Q 및 8-K 양식을 제출할 필요성을 없앨 것입니다. 회사는 계속해서 캐나다의 보고 요구사항과 IFRS 회계 기준을 따를 것입니다. 이 결정은 보고의 복잡성과 비용을 줄이는 것을 목표로 하며 경영진이 호주 뉴사우스웨일즈에 있는 니양간 스칸듐 프로젝트 개발을 포함한 핵심 비즈니스 활동에 집중할 수 있도록 합니다.
Scandium International Mining Corp (TSX:SCY, OTCBB:SCYYF) a annoncé avoir déposé le formulaire 15 auprès de la SEC pour deregister volontairement ses actions ordinaires et suspendre ses obligations de reporting en vertu de la Securities Exchange Act. La deregistration, qui devrait être effective dans un délai de 90 jours, éliminera l'obligation de déposer les formulaires 10-K, 10-Q et 8-K auprès de la SEC. L'entreprise continuera de respecter les exigences de reporting canadiennes et les normes comptables IFRS. Cette décision vise à réduire la complexité et les coûts de reporting tout en permettant à la direction de se concentrer sur les activités essentielles de l'entreprise, y compris le développement de son projet Nyngan Scandium en Nouvelle-Galles du Sud, Australie.
Scandium International Mining Corp (TSX:SCY, OTCBB:SCYYF) hat die Einreichung des Formulars 15 bei der SEC angekündigt, um freiwillig seine Stammaktien abzumelden und die Berichtspflichten gemäß dem Securities Exchange Act auszusetzen. Die Abmeldung, die voraussichtlich innerhalb von 90 Tagen wirksam wird, wird die Notwendigkeit beseitigen, die Formulare 10-K, 10-Q und 8-K bei der SEC einzureichen. Das Unternehmen wird weiterhin die kanadischen Berichtspflichten und die IFRS-Rechnungslegungsstandards befolgen. Diese Entscheidung zielt darauf ab, die Komplexität und Kosten des Reportings zu reduzieren und der Unternehmensführung zu ermöglichen, sich auf die Kernaktivitäten zu konzentrieren, einschließlich der Entwicklung des Nyngan Scandium-Projekts in New South Wales, Australien.
- Cost reduction through simplified reporting requirements
- Management can focus more on core business operations
- Reduced transparency for U.S. investors
- Potential decrease in U.S. market accessibility
- Possible reduction in stock liquidity on OTCBB
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.
The Company’s decision to proceed with the Deregistration is aimed at further reducing the complexity and costs of reporting and allowing the management team to focus their efforts on the Company’s core business activities. The Deregistration does not impact the Company’s business operations. The Company will continue to file periodic reports in Canada in accordance with Canadian securities laws.
Forward-looking statements, such as the statement in this press release regarding the effectiveness of the Form 15, are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Except as required by applicable law, the Company undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise.
FAQ
What does Scandium International Mining's (SCYYF) Form 15 filing mean?
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