Scope Carbon Announces Proposed Private Placement
Not for distribution to United States news wire services or for dissemination in the United States
Vancouver, British Columbia October 13, 2023 — Scope Carbon Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) (“Scope” or the “Company”) is pleased to announce a non-brokered private placement (the “Offering”) of up to 1,250,000 units ("Units") at a price of $1.60 to raise gross proceeds of up to $2,000,000. Each Unit will consist of one common share of the Company and one half of a common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire one additional common share at an exercise price of $2.25 for a period of two years upon issuance.
The Company does not anticipate paying any finder’s fees in connection with the Offering. The Company intends to use the aggregate net proceeds of the Offering in connection with its ongoing acquisition of Farm Flight, Inc. as well as for general working capital purposes.
About Scope Carbon Corp.
Scope is a technology company located in Vancouver, British Columbia and is focused on the commercial development of its AI-driven image software, which the Company intends to use for the identification and estimation of carbon-based lifeforms and carbon emissions, both key components in the identification of carbon credits.
The Company is currently focused on the commercial development of its technology (the “Scope Analysis Platform) through its research and development program, to expand its capabilities of the Scope Analysis Platform and provide a one-tool solution in carbon mapping.
For more information please visit Scope Carbon Corp., or follow along on social media.
James Liang, Chief Executive Officer
(604) 683 0911
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 any expectations with respect to the Offering, the use of proceeds of the Offering and the completion 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 prospectus dated August 10, 2022, 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. For more information on the risks, uncertainties and assumptions that could cause anticipated opportunities and actual results to differ materially, please refer to the risk factors set out in the Company’s prospectus dated August 10, 2022, a copy of which is available under the Company’s profile on SEDAR at www.sedar.com. 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.