Vancouver, British Columbia, Canada, July 11, 2022 – Global Cannabis Applications Corp. (“GCAC” or the “Company”) (CSE: APP, FSE: 2FA, OTCQB: FUAPF), a leading chain-of-custody compliance and data platform, announces that it intends to proceed with a name change to Global Compliance Applications Corp. The Company, pursuant to resolutions of its directors, will shortly be filing a Notice of Alteration to effect the change of name.
Subject to acceptance by the Canadian Securities Exchange (the “CSE”), the CSE will publish a bulletin announcing the effective date that the common shares of the Company will commence trading under its new name of Global Compliance Applications Corp. The effective date is anticipated to be on or about Thursday, July 14, 2022. In connection with the change of name, the CUSIP and ISIN numbers of the Company’s shares will change to 37960T106 and CA37960T1066, respectively.
CEO Brad Moore stated, “ GCAC is and has always been about blockchain. Efixii is now the leading Level 2 blockchain solution for the agriculture supply chain. Our patented Seed to Seed approach showed that we could help solve many of the obvious challenges in cannabis. But we built Efixii to help better connect ANYONE who makes or grows premium products into the hands of those who want them. Our investment in web 3.0 technology means that if you have a supply chain problem with sales, product consistency or margins I strongly suggest you talk to us. If you’re an investor we thank you for your support and encourage you to check out our new website to truly understand the power of what we have built.”
The Company’s trading symbol on the CSE will remain as “APP” and there will be no change in the capitalization structure of the Company. As a result, shareholders are not required to exchange their existing share certificates for new certificates bearing the Company's new name. The name change does not affect the rights of the Company's shareholders and no action is required by shareholders. Along with the name change, the Company will be modifying its logo and will be launching a new website which can be accessed at www.globalcompliance.app.
GCAC is a global leader in designing and developing innovative blockchain technologies and machine learning solutions to improve real-world businesses. GCAC's leading solution is Efixii, an Ethereum Layer 2 blockchain and EVM programming functionality that is on par with other Layer-2's, such as Polygon. GCAC 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. GCAC created clearESG to assist businesses in communicating their sustainability goals and earned attributes on the blockchain through a series of ESG (Environmental, Social & 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. GCAC works in many agricultural industries providing a value-added blockchain offering through a cost-effective SaaS licensing model.
This news release may include forward-looking information within the meaning of Canadian securities legislation concerning the business of GCAC. Forward-looking information is based on certain key expectations and assumptions made by the management of GCAC. Although management of the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because GCAC can give no assurance that they will prove to be correct. Forward-looking statements contained in this news release are made as of the date of this news release. GCAC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.