The Naskapi Nation of Kawawachikamach is pleased to announce that the Taasipitaakin Trust, a community-controlled entity, has invested in Scandium Canada Ltd. through a non-brokered private placement of $334,000. This investment grants the Trust 16.7 million units of the company, each comprised of one common share and one purchase warrant.
This decision comes after careful consideration, dialogue with community members and Elders, and direct engagement with Scandium Canada leadership. The Trust’s Board of Trustees now holds 5% of the company.
“This is a strategic investment informed by our Nation’s values and vision,” said Trustee Mike Sandy. “We recognize the risks, but also the opportunity to engage meaningfully with the mining sector in a way that addresses climate challenges and aligns with global demand for critical minerals. Our Nation has a long history with mining—often one of imbalance. This time, we are choosing to be involved from the very beginning.”
Chief Louise Nattawappio emphasized that this investment is not an endorsement of future mine development on Naskapi territory. “Our participation does not constitute consent to any project. Consultation, negotiation, and the signing of an Impact and Benefit Agreement would still be required. However, this investment marks our intent to be proactive, ensuring our values and rights are respected from the earliest stages of project planning.”
This investment builds on the Pre-Development Agreement signed on April 22, 2024, between the Naskapi Nation and Scandium Canada for the Crater Lake Scandium Project. That agreement established a framework for ongoing collaboration based on trust, transparency, and mutual benefit.
We believe that entering into partnerships on our own terms, and grounded in our community’s priorities, will lead to better outcomes for our people. This is one example of how the Naskapi Nation is exploring innovative ways to participate in the future economy while protecting the integrity of our land and culture.