An anonymous director reports

GLOBAL COMPLIANCE APPLICATIONS CORP. ANNOUNCES AMENDMENT TO PREVIOUSLY ANNOUNCED DEBT SETTLEMENT AND PRIVATE PLACEMENT

Further to its news release of May 31, 2024, Global Compliance Applications Corp. has increased the size of its previously announced debt settlement transaction and now proposes to settle an aggregate of $249,940 in debt owed by the company to creditors of the company through the distribution of 12,497,000 units of the company. Additionally, the company has revised the terms of its previously announced non-brokered private placement such that the company now intends to raise $29,000 through the issuance of 1.45 million units.

Each unit will consist of one common share in the capital of the company and one share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional share at a price of five cents per warrant share for a period of 24 months from the date of distribution. It is anticipated that 5,597,000 units issued in connection with the debt settlement will be issued pursuant to the employee, executive officer, director and consultant exemption set forth in Section 2.24 of National Instrument 45-106, Prospectus Exemptions, and, as a result, such securities will not be subject to a hold period under the prevailing Canadian securities laws. However, the shares, warrants and warrant shares, if applicable, comprising the remaining 6.9 million debt settlement units, as well as the units issued in connection with the offering, will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.

The company intends to use the net proceeds from the offering for general working capital purposes. Closing of the offering is expected to occur as soon as practicable and may occur in one or more tranches. It is currently anticipated that all securities issued in connection with the offering will be subject to a statutory hold period of four months and one day following the date of issuance in accordance with applicable Canadian securities laws.

About Global Compliance Applications Corp.

Global Compliance is a global leader in designing and developing innovative blockchain technologies and machine learning solutions to improve real-world businesses. Global Compliance's leading solution is Efixii, an ethereum Layer 2 blockchain and EVM (ethereum virtual machine) programming functionality that is on par with other Layer 2s, such as Polygon. Global Compliance can quickly connect each participant from product producers, distributors, manufacturers and retailers through a series of value-chain dApps (decentralized apps) that allow for data connectivity to drive better consumer experiences and sales. Global Compliance created clearESG to assist businesses in communicating their sustainability goals and earned attributes on the blockchain through a series of ESG (environmental, social and governance) merit badges. As an interconnected supply chain solution, the Efixii solution pays tokens for attesting to a product's value or truthness through a reward program. Global Compliance works in many agricultural industries, providing a value-added blockchain offering through a cost-effective SaaS (software-as-a-service) licensing model.

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