Global Compliance Applications closes first tranche of placement

VANCOUVER - Global Compliance Applications Corp. (CSE:APP) has finalized the first portion of its recent private placement, according to a press release issued today. The company sold 41,000,000 units at a price of CAD$0.005 per unit, raising a total of CAD$205,000 in gross proceeds. Each unit comprises one common share and one common share purchase warrant, which can be exercised at CAD$0.05 per share for a two-year period ending on October 2, 2028.

The funds raised will be allocated towards bolstering the company's general working capital for operational needs. The transaction requires approval from the Canadian Securities Exchange. The initial units are subject to a four-month and one-day statutory hold period, expiring on February 3, 2027. Global Compliance Applications Corp. is a technology firm specializing in compliance, onboarding, wallet technology, and data-integrity solutions for regulated industries.

Their Efixii technology leverages Ethereum Layer-2 blockchain infrastructure for data verification and compliance applications.