Scope Carbon Announces Completion of Private Placement for Gross Proceeds of CDN $2,000,000

VANCOUVER, BC, Oct. 30, 2023 /PRNewswire/ -- Scope Carbon Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) ("Scope" or the "Company") is pleased to announce completion of a non-brokered private placement (the "Offering") for aggregate gross proceeds of CDN $2,000,000 comprised of 1,250,000 units (each, a "Unit") at a price of CDN $1.60 per Unit.

Each Unit issued consists of one common share in the capital of the Company (a "Common Share") and one half of a common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant is exercisable into one Common Share at a price of CDN $2.25 per Warrant for a period of two years from the date of issuance.

The Company did not pay 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.

All securities issued in connection with the Offering are subject to a statutory hold period of four months and one day from the date of issuance that will expire on February 28, 2024 in accordance with applicable securities laws of Canada.

The securities of the Company have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there by any sale of the securities referenced in this press release, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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.](https://scopecarboncorp.com], or follow along on social media.

LinkedIn: @Smarter Markets
Facebook: Scope Carbon Corp.
Twitter: @scopecarboncorp

Contact Information
James Liang, Chief Executive Officer
[email protected]
(604) 683 0911

SOURCE Scope Carbon Corp