Scope Technologies Corp Closes Second Tranche of Private Placement Financing

Rhea-AI Summary

Scope Technologies Corp (CSE: SCPE) (OTCQB: SCPCF) has successfully completed the final tranche of its non-brokered private placement financing. The company issued 1,000,000 common shares at $0.50 per share, raising gross proceeds of $500,000.

The total offering resulted in the issuance of 3,000,000 shares for total gross proceeds of $1,500,000. No finder's fees were paid. Shares from the final tranche will have resale restrictions until August 10, 2025. The company plans to use the net proceeds to accelerate the development of its QSE mobile application.

Positive

• Successful completion of $1.5M private placement financing
• No finder's fees paid, maximizing net proceeds for company use
• Funds allocated to accelerate development of QSE mobile application

Negative

• Dilution of existing shareholders through issuance of 3 million new shares

VANCOUVER, BC, April 10, 2025 /PRNewswire/ -- Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) ("Scope Technologies" or the "Company") is pleased to announce that it has closed the final tranche (the "Final Tranche") of its previously announced non-brokered private placement financing (the "Offering"), by issuing 1,000,000 common shares (the "Shares") at a price of $0.50 per Share for gross proceeds of $500,000. Under the entire Offering, the Company issued 3,000,000 Shares for gross proceeds of $1,500,000.

No finders' fees were payable under the Offering. The Shares under the Final Tranche will be subject to restrictions on resale until August 10, 2025. The aggregate net proceeds received under the Final Tranche will be used towards accelerating the development of the Company's QSE mobile application.

This news release does not constitute an offer to sell, or solicitation of an offer to buy, nor will there be any sale of any of the securities offered in any jurisdiction where such offer, solicitation or sale would be unlawful, including the United States of America. The securities being offered as part of the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and accordingly may not be offered or sold in the United States except in compliance with the registration requirements of the U.S. Securities Act and any applicable state securities laws, or pursuant to available exemptions therefrom.

For more information on how QSE's quantum security solutions can help healthcare providers comply with the proposed regulations, visit www.qse.group. 

About Scope Technologies Corp.

Headquartered in Vancouver, British Columbia, Scope Technologies Corp is a pioneering technology company specializing in quantum security and machine learning. Through its flagship brands, QSE Group and GEM AI, Scope provides next-generation solutions in data security, quantum encryption, and neural networks, empowering businesses with secure, scalable technologies that drive growth and operational efficiency.

LinkedIn: scope-technologies-corp
Facebook: Scope Technologies Corp
Twitter: @ScopeTechCorp

Contact Information:

James Young
CEO, Scope Technologies Corp.
Email: james@scopetech.ai 
Phone: +1 604-416-1720
Website: www.scopetechnologies.io

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements that constitute forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements in this news release that are not purely historical statements of fact are forward-looking statements and include statements regarding beliefs, plans, expectations, future, strategy, objectives, goals and targets, and more specifically, the use of proceeds of the Offering. Although the Company believes that such statements are reasonable and reflect expectations of future developments and other factors which management believes to be reasonable and relevant, the Company can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "aim", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks and are based on assumptions and analyses made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, including, but not limited to, those risks and assumptions described in the Company's latest management discussion and analysis, a copy of which is available under the Company's profile on SEDAR at www.sedar.com. While Scope considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions, continued satisfaction of Canadian Securities Exchange requirements, product safety and recalls, regulatory compliance and risks associated with the Company's business. Forward-looking statements are made as of the date of this news release and, unless required by applicable law, the Company assumes no obligation to update the forward looking statements or to update the reasons why actual results could differ from those projected in these forward-looking statements. All forward-looking statements are qualified in their entirety by this cautionary statement.

The Canadian Securities Exchange has in no way passed upon the merits of the business of the Company and has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

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SOURCE Scope Technologies Corp.

FAQ

How much did Scope Technologies (SCPCF) raise in their latest private placement financing?

Scope Technologies raised $500,000 in the final tranche by issuing 1,000,000 shares at $0.50 per share, bringing the total offering to $1,500,000.

What is the lock-up period for SCPCF's latest share issuance?

The shares issued in the final tranche are subject to resale restrictions until August 10, 2025.

How will Scope Technologies (SCPCF) use the proceeds from the private placement?

The net proceeds will be used to accelerate the development of the company's QSE mobile application.

What was the price per share for SCPCF's private placement?

The shares were issued at a price of $0.50 per share.