Scope Technologies Announces Convertible Debt Financing to Drive Growth and Innovation
Summary
VANCOUVER, BC, Jan. 6, 2025 /CNW/ -- Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) ("Scope Technologies" or the "Company") is pleased to announce a $1 million CAD convertible debt financing from First Majestic Silver Corp. (TSX: AG; NYSE: AG; Frankfurt: FMV) ("First Majestic"), a publicly traded mining company, in addition to its previously announced $1.8 million CAD non-brokered private placement financing (see news release dated December 27, 2024).This strategic funding will be allocated to operational growth, business development, and product management, further advancing Scope Technologies mission to deliver quantum-resistant encryption and data storage solutions to businesses worldwide.First Majestics investment underscores the critical importance of secure, scalable solutions in todays rapidly evolving technological landscape. This POC not only solidified First Majestics decision to sign on as an enterprise client but also reaffirmed the strength of Scopes solutions.Sean Prescott, CTO of Scope Technologies, commented: "Having a POC completed by such a reputable and established company like First Majestic is a significant milestone for us, this was a rigorous test by a global organization. "The $1 million CAD convertible debt financing from First Majestic includes favorable terms, featuring an annual interest rate of 4% and maturing within one year. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this press release. 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.