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Global Carbon Credit Corp. Announces Closing Of Private Placement And Provides Corporate Update

December 22, 2021

Global Carbon Credit Corp. (the “Company”) is pleased to announce that it has completed an initial closing of its non-brokered private placement of units (the “Units”) at a price of $0.50 per Unit to raise gross proceeds of $16,181,851. These funds were raised by the Company issuing 32,363,702 Units, each Unit consisting of one common share (a “Share”) and one-half of a Share purchase warrant (a “Warrant”). Each whole Warrant entitles the holder to acquire one Share exercisable at $1.00 for a period of 24 months from the date of issuance of the Units.

In connection with this tranche of the private placement, the Company paid cash commissions totalling $15,000 and issued 6,000 finder’s units (the “Finder’s Units”) to certain brokerage firms for introducing subscribers to the Company. Each Finder’s Unit consists of one Share and one-half of a non-transferrable Share purchase warrant (a “Finder’s Warrant”), each whole Finder’s Warrant exercisable at a price of $1.00 for a period of 24 months following the date of issuance of the Finder’s Units.

In addition, the Company announces that all of its previously issued Subscription Receipts and Finder’s Subscription Receipts were automatically converted to a total of 42,164,000 Units and 345,600 Finder’s Units on November 30, 2021, being the effective date of the Company’s share consolidation and name change to Global Carbon Credit Corp. (see news release dated November 29, 2021). Each Unit and Finder’s Unit have the same terms as the Units and Finder’s Units described above. Following the conversion of the Subscription Receipts and Finder’s Subscription Receipts, the Company had a total of 64,595,866 Shares issued and outstanding.

To date, the Company has raised a total of $38,366,351 by way of its non-brokered private placements. The net proceeds of the private placements will be used to finance the Company’s entry into the carbon credits and carbon offsets industry.


Scott Davis