GCAC Expands Debt Settlement and Capital Raise

Global Cannabis Applications Corp (TSE:APP) has released an update.

Global Compliance Applications Corp. (GCAC) has updated its financial strategy by expanding its debt settlement to $249,940 through the issuance of 12,497,000 units, and aims to raise an additional $29,000 via a private placement of 1,450,000 units. Each unit comprises one common share and a purchase warrant, the latter allowing for the acquisition of an additional share within 24 months. The funds procured are earmarked for general working capital, with the transaction expected to close promptly, subject to customary statutory hold periods under Canadian securities laws.

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