Scope Technologies raises $3 million in private placement financing

Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) completed a non-brokered private placement financing of 7,894,737 units at $0.38 per unit for gross proceeds of $3 million.

Each unit consists of one common share and one-half of one share purchase warrant. Each warrant allows the holder to purchase one additional share at $0.60 per share for three years from the date of issue.

All securities issued under the offering are subject to a hold period expiring four months and one day from the date of issuance. The company may pay finders fees related to the offering.

Scope Technologies plans to use the proceeds to expand its QSE platform and for general working capital requirements.

"This funding allows Scope Technologies to grow and support ongoing operations," said Ted Carefoot, CEO of Scope Technologies Corp. "Accelerating our goal to make QSE a go to post-quantum security preparedness and encryption company."

The Vancouver-based company operates in quantum-secure infrastructure, developing post-quantum storage and authentication solutions through its QSE Group division. The company focuses on cryptographic resilience for enterprises preparing for quantum computing threats.

The information is based on a company press release statement.

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