Global Compliance Applications appoints Asia director, plans $300K placement

Global Compliance Applications Corp. (CSE: APP) (FSE: TK6) (OTC Pink: FUAPF) has appointed Wasupit Wises, also known as Peter Wises, to its board of directors as Managing Director - Asia and Co-Chairman, effective September 12, 2026, pending completion of Canadian Securities Exchange requirements.

Wises, described as a Thai business executive and international strategic advisor, will focus on institutional relationships, cross-border business development and project development across Asia-Pacific. His role will include regional business development, strategic licensing and commercial onboarding, with engagement expected across governments, financial institutions and technology partners in the region.

His fixed consulting compensation is set at US$1.00 per year, with additional compensation tied to realized commercial revenues and performance milestones. He is entitled to 50% of qualifying gross advisory and compliance fees received by the company from projects attributed to his regional activities. A performance-based equity incentive of up to 10% of issued and outstanding common shares has also been contemplated, linked to project-onboarding milestones of 1,000,000, 5,000,000 and 10,000,000 qualifying projects. No securities are being issued at this time.

Separately, the company announced a private placement of up to 60,000,000 units at CAD$0.005 per unit, targeting gross proceeds of up to CAD$300,000. Each unit consists of one common share and one warrant exercisable at CAD$0.05 per share for two years from closing. Proceeds will be used for general working capital. The placement is subject to CSE approval, and units will carry a statutory four-month-and-one-day hold period upon closing.

The information above is based on a press release issued by Global Compliance Applications Corp.

You May Also Be Interested In

• William Blair Downgrades Endava PLC (ADR) (DAVA) to Underperform
• Hyperscale Data plans new Bitcoin mining subsidiary Patriot BTC
• Coretura picks Alloy Kore as software foundation for commercial vehicles