Scientific Metals Completes Non-Brokered Private Placement and Closes the Iron Creek Cobalt Acquisition

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 17, 2017) - Scientific Metals Corp. ("STM" or the "Company") (TSX VENTURE:STM)(FRANKFURT:26X)(OTCQB:SCTFF) is pleased to announce that it has completed a non-brokered private placement (the "Offering") of units (each, a "Unit") at a price of $0.45 per Unit. Pursuant to the Offering, the Company issued an aggregate of 2,117,777 Units, generating gross proceeds of $953,000. Each Unit is comprised of one common share in the capital of the Company and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at a price of $0.65 per share at any time within 18 months of the date of issuance. All of the securities issued under this private placement are subject to a four month resale restriction.

The Company intends to use the net proceeds of the offering to advance its lithium and cobalt properties and for general working capital purposes.

The Company also announces that, further to its press release issued February 21, 2017, it has completed the acquisition of 25 unpatented lode mining claims, totalling 500 acres to the south extension of its flagship Iron Creek cobalt project. In consideration for the mining claims, the Company issued 2.1 million common shares to the arm's length vendors at a deemed price of $0.62 per share.

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