An anonymous director reports

GLOBAL COMPLIANCE APPLICATIONS CORP. CLOSES FINANCING AND DEBT SETTLEMENT

Global Compliance Applications Corp., further to its news release dated Dec. 4, 2023, has completed a non-brokered private placement of 2,133,333 units of the company at a price of three cents per unit for aggregate gross proceeds of $64,000. Each unit consist of one common share in the capital of the company and one-half of one share purchase warrant. Each warrant entitles the holder thereof to acquire one share at a price of 6.5 cents per warrant share for a period of 24 months from the closing date of the offering. The company intends to use the proceeds raised from the offering for product sales, technology improvements and general operations.

Additionally, the company has settled an aggregate of $178,325 of debt owed to four creditors of the company. In settlement of the debt, the company issued an aggregate of 5,944,166 shares at a deemed price of three cents per settlement share.

One of the creditors was an officer of the company. The insider was issued an aggregate of two million settlement shares to settle $60,000 in debt. The issuance of the settlement shares to the insider constitutes a related party transaction as defined in Multilateral Instrument 61-101 -- Protection of Minority Security Holders in Special Transactions. The company is relying on the exemption from valuation requirement and minority approval pursuant to subsections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, for the debt settlement with the insider, as the settlement shares do not represent more than 25 per cent of the company's market capitalization, as determined in accordance with MI 61-101.

All securities issued in connection with the offering and the debt settlement are 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 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.

We seek Safe Harbor.