GCIT Announces Financing up to $1.2 Million
GCIT Announces Financing up to $1.2 Million
Vancouver, British Columbia – August 3, 2022 – Glorious Creation Limited (the “Company” or “GCIT”) (CSE: GCIT.X)
is pleased to announce a non -brokered private placement offering (the “ Offering”) of up to 4,800,000 common
shares of the Company (“Shares”) at a price of $0.25 per Share for gross proceeds of $1,200,000.
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 t he 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”). F or more information on Aero bloom and the Transaction, see the Com pany’s news
release dated May 4, 2022.
It is anticipated that a finders ’ fee will be paid to ce rtain arm’s length finders in r elation to the Offering
consisting of a cash payment in an amount up to a maximum of 8% of the gross proceeds of the Offering directly
resulting from the introductions of such finders . The finders will consist of registered arm’s len gth dealers or
other permitted individuals under Canadian securities laws.
The securities issued under the Offering will be subj ect to a statu tory hold period in Canada expiring four
months and one day from closing.
About Glorious Creation Limited
GCIT is incorporated under the provisions of the Business C orporations Act (British Columbia) with its registered
and head office in Vancouver, British Columbia. G CIT is a “reporting issuer” in the provinces of Ontario, B ritish
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 in formation within the meaning of Canadian s ecurities laws. Such
information includes, without limitation, statements regarding the Transaction, the anticipated proceeds to be
raised under the Offering, the intended use of any proceeds from the Offering and anticipated finder’s fees to be
paid in connection with the Offer ing. Although GCIT believes that such information is reas onable, it can give no
assurance that such expectations will prove to be correct.
Forward looking information is typically identified b y words such as: “believe”, “e xpect”, “anticipate”, “intend”,
“estimate”, “postulate” and similar expressions, or are th ose, which, by thei r nature, refer to future events. 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 each of the
Transaction and the Offering will close and will do so on the anticipated terms and timelines; that general
business and econo mic conditions will not change in a material ly adverse manner; that applicable regulatory
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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,
performance or achievements expressed or implied by th e forward -looking stateme nts. Such risks and other
factors include, among others: GCIT 's ability to complete the Transaction and t he expected timing and terms
thereof; delays in obtaining required regul atory approvals for the Transaction and t he Offering; the inability of
the Company to raise the anticipated proceeds under the Offering; the state of the financial markets for GCIT's
securities; the state of the agricultural sector in the e vent the Transaction is completed; recent market volati lity
and potent ially negative capital raisi ng conditions resulting from t he continued COVID -19 pandemic and risks
relating to the extent and duration of such pande mic and it s impact on global markets; the conflict i n Eastern
Europe; GCIT's ability to raise the necessary c apital or to be fully able to impl ement its business stra tegies; 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 b e, 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. registrat ion 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.