GCIT Announces Closing of Financing
GCIT Announces Closing of Financing
Vancouver, British Columbia – August 23, 2022 – Glorious Creation Limited (the “ Company” or “ GCIT”) (CSE:
GCIT.X) is pleased to announce that it has closed its previously announced non-brokered private placement
offering (the “Offering”), issuing an aggregate of 4,225,818 common shares of the Company (“Shares”) at a price
of $0.25 per Share for gross proceeds of $ 1,056,454.50. The Company has paid finder’s fees in the total amount
of $2,400 to certain finders who assisted with the Offering.
The net proceeds of the Offering are expected to be used for general working capital requirements and to cover
costs and expenses in connection with the Company’s proposed acquisition (the “Transaction”) of Aeroponics
Integrated Systems Inc. (“AeroBloom”) and the reactivation of the Company’s listing on the Canadian Securities
Exchange (the “ CSE”). For more information on Aerobloom and the Transaction, see the Company’s news
release dated May 4, 2022.
The Shares issued under the Offering are subject to a statutory hold period in Canada expiring four months and
one day from the date of issuance.
About Glorious Creation Limited
GCIT is incorporated under the provisions of the Business Corporations Act (British Columbia) with its registered
and head office in Vancouver, British Columbia. GCIT is a “reporting issuer” in the provinces of Ontario, British
Columbia and Alberta.
For further information, please contact:
Glorious Creation Limited
Attention: Liam Corcoran, CEO and Director
Phone: (778) 889-4966
The CSE does not accept responsibility for the adequacy or accuracy of this news release.
Cautionary Statements Regarding Forward-Looking Information:
This news release contains forward -looking information within the meaning of Canadian se curities laws. Such
information includes, without limitation, statements regarding the Transaction and the intended use of any
proceeds from the Offering. Although GCIT believes that such information is reasonable, it can give no assurance
that such expectations will prove to be correct.
Forward looking information is typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”,
“estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future even ts. The
Company cautions investors that any forward -looking information provided by the Company is not a guarantee
of future results or performance and that such forward-looking information is based upon a number of estimates
and assumptions of management in light of management’s experience and perception of trends, current
conditions and expected developments, as well as other factors that management believes to be relevant and
reasonable in the circumstances, as of the date of this news release including, without limitation, that the
Transaction will close on the anticipated term s and timeline; that general business and economic conditions will
not change in a material ly adverse manner; that applicable regulatory approvals will be received; and
assumptions regarding political and regulatory stability and stability in financial and capital markets.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause
the actual results, performance or achievements of the Company to differ materially from any future results,
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performance or achievements expressed or implied by the forward -looking statements. Such risks and other
factors include, among others: GCIT's ability to complete the Transaction and t he expected timin g and term s
thereof; delays in obtaining required regulatory approvals for the Transaction; the state of the financial markets
for GCIT's securities; the state of the agricultural sector in the event the Transaction is completed; recent market
volatility and potentially negative capital raising conditions resulting from the continued COVID-19 pandemic and
risks relating to the extent and duration of such pandemic and its impact on global markets; the conflict in
Eastern Europe; GCIT's ability to raise the n ecessary capital or to be fully able to implement its business
strategies; and other risks and factors that GCIT is unaware of at this time.
The forward-looking statements contained in this news release are made as of the date of this news release. GCIT
disclaims any intention or obligation to update or revise any forward -looking statements, whether as a result of
new information, future events or otherwise, except as required by law.
The securities referred to in this news release have not been, nor will they be, registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or
for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S.
registration requirements.
This news release does not constitute an offer for sale of securities, nor a solicitation for offers to buy any
securities.