An anonymous director reports

GLOBAL COMPLIANCE APPLICATIONS CORP. ANNOUNCES DEBT SETTLEMENT

Global Compliance Applications Corp. has entered into a debt settlement agreement dated May 13, 2023, with the software company Abbey Technology GmbH, to settle an aggregate of $382,700 in debt owed to the creditor for significant commercial upgrades to the Efixii blockchain platform. Pursuant to the terms and conditions of the agreement, in settlement of the debt, the company will issue the creditor 19,135,000 common shares in the capital of the company at a deemed price of two cents per settlement share. The settlement shares will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

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 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 that allows 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 software-as-a-service licensing model.

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