SCOPE CARBON ENTERS INTO PRODUCT DEVELOPMENT AGREEMENT WITH MARSMAN LIMITED

VANCOUVER, B.C., Oct. 3, 2022 /CNW/ -- Scope Carbon Corp. ("Scope" or the "Company") a pioneering carbon mapping technology company, is pleased to announce that the Company has now entered into a product development agreement (the "Product Development Agreement") with Marsman Limited ("Marsman"), a British Virgin Islands development company, to assist in the advancement of the Company's self-learning image recognition technology (the "Technology"). 

Sean Prescott, the Company's Non-Executive Chairman and initial developer of the Technology, will be leading the software development in collaboration with Marsman. It is anticipated that the Product Development Agreement will enable the Company to create a unique user experience with a high-end product design and decrease the required time to develop the Technology. This will allow the Company more time to consider the further innovations and also ensure that the Company is creating a user friendly experience. Scope, with the assistance of Marsman, intends to develop, scale and enhance its Technology for market roll-out in 2023.

The Marsman development team will be led by Martin Ma, an early key employee of the Alibaba Group who helped Alibaba found various key divisions within the group, including its Internet, CRM and Business Intelligence units. Previously a senior manager at Huawei, Mr. Ma is also the founder of Heliao, a business social networking platform in China and also provides outsourced development services for select projects. Assisting Mr. Ma will be a development team consist of approximately eight persons working both full and part time and with specialties ranging from TensorFlow development, front and back-end web development, project management, user interface design, quality control and assurance testing and server management.

"We are very excited to be working with Marsman to develop an enhanced and scalable version of the Company's Technology" said James Liang, CEO of Scope. "Scope is at the forefront of a rapidly expanding industry and our goal is for Scope's Technology to become an essential tool for project developers of carbon credits and corporations looking towards establishing a net zero footprint. We believe the Company's partnership with Marsman will only enrich the development of the Technology and we looking forward to working and learning alongside our partner Martin Ma and his Alibaba team."

About Scope Carbon Corp.

Scope is a 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 through its research and development program, to expand its capabilities 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, and more specifically any advancements or developments made to the Company's Technology, the participation of Mr. Prescott in the development of the Technology, qualities or development time of the Technology, any innovations which could be made to the Technology, timelines on commercialization of the Technology, the participation of Mr. Ma in the development of the Technology, the prospects of the carbon credits market and the application of the Technology to the same as well as all payments to be made Marsman. 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.

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.

Contact Information

James Liang, CEO

[email protected]

[phone]

SOURCE Scope Carbon Corp.