Global Education Communities Corp. Announces Non-Brokered Private Placement
Global Education Communities Corp (GECC) has announced plans for a non-brokered private placement to raise approximately $2,000,000 through the issuance of debentures. Key details of the financing include:
- Debentures mature in one year, with a possible one-year extension
- 10% annual interest, paid quarterly
- Principal convertible to common shares at $0.30 per share in the first year, $0.36 per share if extended
The financing is subject to TSX approval, and finder's fees may apply to certain subscriptions. GECC trades on the TSX under the symbol GEC and on the OTCQX International as GECSF.
Global Education Communities Corp (GECC) ha annunciato piani per un collocamento privato senza intermediari per raccogliere circa $2.000.000 attraverso l'emissione di obbligazioni. I dettagli chiave del finanziamento includono:
- Le obbligazioni scadono in un anno, con una possibile estensione di un anno
- 10% di interesse annuo, pagato trimestralmente
- Il capitale è convertibile in azioni ordinarie a $0,30 per azione nel primo anno, $0,36 per azione se esteso
Il finanziamento è soggetto all'approvazione della TSX e potrebbero essere previste commissioni per i trovatori su alcune sottoscrizioni. GECC è quotata sulla TSX con il simbolo GEC e sull'OTCQX International come GECSF.
Global Education Communities Corp (GECC) ha anunciado planes para un colocación privada no intermediada para recaudar aproximadamente $2,000,000 mediante la emisión de bonos. Los detalles clave del financiamiento incluyen:
- Los bonos vencen en un año, con una posible extensión de un año
- 10% de interés anual, pagado trimestralmente
- El capital convertible a acciones ordinarias a $0.30 por acción en el primer año, $0.36 por acción si se extiende
El financiamiento está sujeto a la aprobación de TSX, y pueden aplicarse tarifas de encuentre a ciertas suscripciones. GECC cotiza en la TSX bajo el símbolo GEC y en el OTCQX International como GECSF.
Global Education Communities Corp (GECC)는 중개인 없는 사모 배치를 통해 약 $2,000,000를 모금할 계획을 발표했습니다. 자금 조달의 주요 세부 사항은 다음과 같습니다:
- 채권은 1년 후 만료되며, 최대 1년 연장이 가능합니다.
- 연 10%의 이자가 분기마다 지급됩니다.
- 원금은 첫 해에 $0.30 주당 보통주로 전환 가능하며, 연장 시 $0.36 주당으로 전환됩니다.
자금 조달은 TSX의 승인을 받아야 하며, 특정 구독에는 중개 수수료가 적용될 수 있습니다. GECC는 TSX에서 GEC라는 기호로 거래되며 OTCQX International에서는 GECSF로 거래됩니다.
Global Education Communities Corp (GECC) a annoncé des plans pour un placement privé non intermédiaire visant à lever environ $2,000,000 par l'émission d'obligations. Les détails clés du financement comprennent :
- Les obligations arrivent à échéance dans un an, avec une possibilité d'extension d'un an
- 10% d'intérêt annuel, payé trimestriellement
- Le capital peut être converti en actions ordinaires à $0,30 par action au cours de la première année, $0,36 par action en cas d'extension
Le financement est soumis à l'approbation de la TSX et des frais de recherche peuvent s'appliquer à certaines souscriptions. GECC se négocie sur la TSX sous le symbole GEC et sur l'OTCQX International sous le symbole GECSF.
Global Education Communities Corp (GECC) hat Pläne für eine nicht vermittelte Privatplatzierung angekündigt, um etwa $2.000.000 durch die Emission von Anleihen zu beschaffen. Die wichtigsten Details der Finanzierung sind:
- Anleihen laufen in einem Jahr
- 10% jährliche Zinsen, vierteljährlich gezahlt
- Das Kapital kann im ersten Jahr zu $0,30 pro Aktie in Stammaktien umgewandelt werden, $0,36 pro Aktie, wenn es verlängert wird
Die Finanzierung unterliegt der Genehmigung der TSX, und Vermittlungsgebühren können auf bestimmte Abonnements anfallen. GECC wird an der TSX unter dem Symbol GEC und an der OTCQX International als GECSF gehandelt.
- Potential to raise $2,000,000 in capital
- 10% annual interest rate on debentures
- Option to extend debenture maturity for a second year
- Convertible debentures offer flexibility for investors
- Potential dilution of existing shareholders if debentures are converted
- High 10% interest rate may increase financial burden
- Financing subject to TSX approval, which is not guaranteed
VANCOUVER, BC / ACCESSWIRE / August 27, 2024 / Global Education Communities Corp ("GECC" or the "Company") (TSX:GEC)(OTCQX International:GECSF) is pleased to report that the Company intends to raise, through a non-brokered private placement, approximately
The Financing is subject to TSX approval. Finder's fee may be payable in connection with certain subscriptions.
About GECC:
GECC is one of Canada's largest education and student housing investment companies focused on the domestic and global education market since 1994. GECC operates business and language colleges, student-centric rental apartments, recruitment centres and corporate offices at 40 locations in Canada and abroad. Its education subsidiaries include Sprott Shaw College Corp. (established in 1903), Sprott Shaw Language College, Vancouver International College, and CIBT School of Business & Technology Corp. GECC offers over 150 educational programs in healthcare, business management, e-commerce, cyber-security, hotel management, emergency paramedic, and language training through these schools. In fiscal 2023, GECC serviced over 14,277 domestic and international students through its educational, rental housing and recruitment subsidiaries.
GECC owns Global Education City Holdings Inc. ("GECH"), an investment holding and development company focused on education-related real estate, such as student-centric rental apartments and education super-centres. In fiscal 2023, GECH held ten projects comprising 15 buildings in different stages of development and operations under the GEC® brand in Metro Vancouver and provided accommodation services to 92 partner schools serving 3,200 students from 71 countries. The total portfolio and development budget under the GEC® brand exceeds
GECC also owns Global Education Alliance Inc. ("GEA") and Irix Design Group Inc. ("IRIX"). GEA recruits international students for elite kindergartens, primary and secondary schools, colleges and universities in North America. Irix is a leading design and advertising company based in Vancouver, Canada. Visit us online and watch our corporate video at www.GEChq.com.
For more information, contact:
Toby Chu
Chairman, President & CEO
Global Education Communities Corp.
Investor Relations Contact: 1-604-871-9909 extension 319 or | Email: info@GEChq.com
FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking information (the "forward-looking statements") about GECC and its plans. Forward-looking statements are statements that are not historical facts. Forward-looking statements in this news release include, without limitation, the statement as to the Company's intention to complete, and the anticipated size of, the Financing. The forward-looking statements are subject to various risks, uncertainties and other factors (collectively, the "Risks") that could cause the Company's actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. The Risks include, without limitation, the interest of eligible investors in, and receipt of TSX approval to, the Financing. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
SOURCE: Global Education Communities Corp
View the original press release on accesswire.com
FAQ
What is the purpose of GECC's non-brokered private placement announced on August 27, 2024?
What are the key terms of the debentures offered by GECC (GECSF) in this financing?
When will the debentures issued by GECC (GECSF) mature?
What is the conversion price for GECC's (GECSF) debentures into common shares?
