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

Scope Carbon Announces Completion of Private Placement for Gross Proceeds of CDN $2M - Carbon Herald

Scope Carbon Corp. (OTCQB: SCPCF) announced the completion of a non-brokered private placement for aggregate gross proceeds of CDN $2,000,000 comprised of 1,250,000 units 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 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.

Relevant: Secures €3.5M Funding To Scale Carbon Removal

A private placement is a sale of stock shares or bonds to pre-selected investors and institutions rather than publicly on the open market as an alternative to an initial public offering (IPO).

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.

Relevant: DevvStream Launches First-Ever Blockchain-Based Carbon Offset Program Platform

The securities of the Company have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended 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. The company’s 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 the press release, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Scope Carbon Corp is a technology company located in Vancouver, British Columbia, developing an AI-driven image software, intended to be used for the identification and estimation of carbon-based lifeforms and carbon emissions, both key components in the identification of carbon credits. It is currently focused on its technology – the Scope Analysis Platform to provide a one-tool solution in carbon mapping.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts