Global Compliance Applications closes $210,000 private placement

Global Compliance Applications Corp. (CSE: APP) (FSE: TK6) has closed the second and final tranche of a private placement, issuing 1,000,000 units at $0.005 per unit, the company said in a statement. Total gross proceeds from both tranches of the placement reached $210,000.

Each unit consists of one common share and one warrant exercisable at $0.05 per share for two years from closing. The first tranche of 41,000,000 units is subject to a hold period expiring February 3, 2027, while the second tranche hold period expires March 5, 2027.

The company is also pursuing a new non-brokered private placement for gross proceeds of up to CAD $500,000, priced at CAD $0.005 per unit, which would involve up to 100,000,000 units if fully subscribed. Each unit would include one common share and one warrant at an exercise price of CAD $0.05. The company has requested confidential price protection with a stated expiry of December 11, 2026, subject to Canadian Securities Exchange requirements.

The Vancouver-based blockchain technology company also disclosed several ongoing strategic initiatives. It continues discussions with RevoluGROUP Canada Inc. regarding potential commercial arrangements involving payment services in Spain, though no definitive agreement has been reached. Peter Wises, CEO of CTG, has joined the company's board of directors to support digital bond and Asian market initiatives.

The company is also advancing a memorandum of understanding with Instacash, a digital wallet platform in Eswatini with approximately 220,000 reported users, to integrate blockchain-enabled coupon technology. A separate initiative involves developing a blockchain-based electronic waste tracking and payment framework.

The company noted that no material revenue from any of these initiatives is being forecast at this stage, and there is no assurance that any proposed transaction or commercial arrangement will be completed.

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