12:16 PM EDT, 03/24/2025 (MT Newswires) -- Scope Technologies ( SCPCF ) Monday said it is raising up to $1.5 million in non-brokered private placement of shares.

The company said it will place up to three-million shares priced at $0.50 per share in the financing.

First Majestic Silver (AG.TO) is investing $1 million as a strategic investor and enterprise client of Scope Technologies ( SCPCF ).

Proceeds will be used to repay a $1 million from First Majestic, with the remaining funds dedicated to accelerating the development of Scope's QSE mobile application. The app will serve as a secure communication and file sharing platform powered by QSE's proprietary Entropy-as-a-Service technology.

The mobile app will round out the company's security offerings, providing users with a seamless way to send messages and share sensitive files through a secure, decentralized infrastructure.

Scope shares were last seen down $0.02 to $0.50 on the Canadian Securities Exchange.

Price: 0.50, Change: -0.02, Percent Change: -3.85