Vancouver, British Columbia, Canada, June 17, 2024 – TheNewswire – Global Compliance Applications Corp. (“GCAC” or “Company”) (CSE: APP, FSE: 2FA, OTCQB: FUAPF), announces that on April 19, 2024 it signed a Memorandum of Understanding (“MOU”) with Scherf Corporation (“Service Provider”) to execute trading opportunities in public market securities and/or derivatives thereof, primarily in the compliance, retail/wholesale, software, technology and market indices sector. The term of the agreement was to be for twelve (12 months) with the ability of either party to sever the agreement. The Service Provider was to be paid a performance fee of sixty percent (60%) of the realized net gain.

Per the terms of the agreement, the Company did not engage the Service Provider to conduct Promotional Activities as defined by CSE Policy. On June 16, 2024, the Company and Service Provider mutually agreed to terminate the MOU. No termination fee was payable by either party. The Company confirms that there is no disagreement or outstanding matters between the Company and the Service Provider.

                   

About Global Compliance Applications Corp. “GCAC”

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 connect 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 serves as a one-stop digital-coupon shop that saves users money on cannabis and CBD that may have Efixii-blockchain verified seed to sale lifecycle information. GCAC works in many agricultural industries providing a value-added blockchain offering through a cost-effective SaaS licensing model.

For more information, please visit globalcompliance.app, or review its profile on sedar.com and the Canadian Securities Exchange thecse.com.

GCAC Press Contact                       

+1 (800) 409-5679                       

info@GCAC.tech                 

 

Forward-Looking Information 

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.

 

The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this information.

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