VANCOUVER, BC, Sept. 26, 2022 /CNW/ -- Scope Carbon Corp. ("Scope" or the "Company") announces it has engaged a consultant to apply for eligibility to The Depository Trust Company ("DTC") for the trading of the Company's shares on the OTC Market in the United States. The Depository Trust Company, a subsidiary of the Depository Trust & Clearing Corporation DTCC, manages the electronic clearing and settlement of publicly traded companies. Securities eligible to be electronically cleared and settled through the DTC are considered "DTC eligible". This electronic method of clearing securities speeds up the receipt of stock and cash and accelerates the settlement process for investors trading on the OTC marketplace. The Company expects it will be fully DTC eligible before the end of 2022.
"Scope has received interest from US-based investors and listing on the OTCQB will provide institutional and retail investors with easier access to trade in the Company's shares," commented James Liang CEO of Scope. "When shares can trade electronically, existing investors benefit from greater liquidity and execution speeds, while opening the door to new investors that may have been previously restricted from transacting in Company's shares."
The listing of the Company's common shares on the OTCQB remains subject to the approval of the OTCQB and the satisfaction of applicable listing requirements. Similarly, the clearance of settlement through DTC remains subject to DTC approval.
The OTCQB, operated by the OTC Markets Group in New York, is the premiere marketplace for early stage and developing U.S. and international companies. Participating companies must be current in their financial reporting and undergo an annual verification and management certification process, including meeting a minimum bid price and other financial conditions. With more compliance and quality standards, the OTCQB provides investors improved visibility to enhance trading decisions. The OTCQB is recognized by the United States Securities and Exchange Commission ("SEC") as an established public market providing public information for analysis and value of securities. DTC eligibility will enable an accelerated settlement process and allow the Company's shares to be efficiently transferred between brokerage accounts electronically within the United States.
About Scope Carbon Corp.
Scope is a carbon mapping 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 the capabilities of the Scope Analysis Platform and provide a one-tool solution in carbon mapping.
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, an OTCQB listing in the U.S.; application for DTC on the OTCQB market, the strategic plan of introducing the Company to a broader range of institutional and retail investors in the U.S., and orientations regarding the future as of the date of this news release. 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.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States, or any other jurisdictions in which such offer, solicitation or sale would be unlawful. The Company's securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States (or to any U.S. persons) or in any other jurisdiction in which such offer or sale would be unlawful absent registration under the U.S. Securities Act and applicable state securities laws, or an exemption is available, or qualification under the securities laws of such other jurisdiction or an exemption is available.
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.
Darien Lattanzi, Director
+1 (0)604 683 0911
SOURCE Scope Carbon Corp.
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