1. Ted Carefoot appointed CEO of Scope Technologies, succeeding James Young. 2. Carefoot brings over two decades of experience in tech and security. 3. Scope focuses on quantum-resilient encryption for enterprise and government clients. 4. 950,000 stock options granted at $0.385; 1.5 million RSUs for Carefoot. 5. James Young stays as advisor, ensuring continuity during transition.
The leadership change to an experienced CEO aligns with market demand for security solutions, potentially enhancing investor confidence, similar to past positive transitions in tech firms like Microsoft. Previous examples include transitions that sparked renewed interest in stock performance following leadership changes that aligned corporate strategy with emerging industry trends.
The appointment of a new CEO with relevant industry expertise directly influences company strategy, growth potential, and market perception, indicating a likely impact on shares.
Carefoot's focus on quantum security positions Scope Technologies for future market growth. This aligns with ongoing developments and regulatory requirements in cybersecurity that are expected to gain importance over time.
Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF) (FSE: VN8) ("Scope Technologies" or the "Company") today announced the appointment of Ted Carefoot as Chief Executive Officer, succeeding James Young, who will continue supporting the company in an advisory capacity.
A proven technology leader with over two decades of experience in software development, cybersecurity, AI, and risk management, Carefoot most recently served as Scope's Vice President of Product. His career includes leadership roles at Electronic Arts and Disney Online Studios Canada, with deep expertise in developing large-scale security solutions and regulatory frameworks. Carefoot holds certifications in Governance, Risk & Compliance (GRC) and Integrated Data Privacy, and is recognized for his expertise in Risk Management Framework (RMF) implementation — a critical capability as Scope expands its post-quantum security offerings.
"As Scope Technologies enters its next phase of growth, we are committed to staying at the forefront of quantum security innovation and compliance," said James Young. "Ted's leadership, industry experience, and deep expertise in risk management and regulatory standards make him the ideal person to guide Scope into this future. I have full confidence in his ability to scale the company and deliver on our mission."
Under Carefoot's leadership, Scope Technologies will continue its focus on providing quantum-resilient encryption and security solutions to enterprise and government clients, helping organizations prepare for the growing regulatory requirements surrounding post-quantum cryptography (PQC) standards.
"I'm honored to step into this role at such a pivotal time," said Ted Carefoot. "With quantum computing threats becoming a reality, businesses and governments must act now to safeguard their data. I look forward to leading Scope's talented team as we help organizations future-proof their security infrastructure against these emerging threats."
Scope Technologies also announces that Sean Prescott has resigned as a director of the Company. The Company wishes to thank him for his services as a director. Mr. Prescott will remain CTO of Scope Technologies.
Scope Technologies has also granted a total of 950,000 stock options exercisable at $0.385 per share for a period of five years from the date of grant. The stock options are subject to the vesting requirements set by the board of directors. In addition, Scope Technologies granted 1,500,000 restricted share units ("RSUs") to Mr. Carefoot. The RSUs vest as follows: 250,000 RSUs within one year from the grant date, 500,000 RSUs within two years from the grant date and 750,000 RSUs within three years from the grant date.
For more information on how QSE's quantum security solutions visit www.qse.group or contact info@scopetechnologies.io.
Headquartered in Vancouver, British Columbia, Scope Technologies Corp is a pioneering technology company specializing in quantum security and machine learning. Through its flagship brands, QSE Group and GEM AI, Scope provides next-generation solutions in data security, quantum encryption, and neural networks, empowering businesses with secure, scalable technologies that drive growth and operational efficiency.
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James Young
CEO, Scope Technologies Corp.
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Website: www.scopetechnologies.io
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, the use of proceeds of the Offering. 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 latest management discussion and analysis, 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. 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.
