Global Care Capital Inc. announced that it has entered into a purchase agreement with Mirabelle Capital Ltd for the issuance of unsecured zero-coupon convertible securities for a gross proceeds of $2 million on February 25, 2022. The convertible securities have a term of twenty-four months from the date of issuance. The company will issue the securities in tranches, with intimal tranche expected to be close in next two weeks, for a principal amount of $744,000 and purchase price of $600,000, second closing will occur no later than eight months after the initial closing, for a principal amount of $744,000 and purchase price of $600,000 and the final tranche prior to the first anniversary of the initial closing for a principal amount of $922,000 and purchase price of $800,000.

Each security will have a term of 24 months from the date of its issue and will be convertible into common shares, in whole or in part, at the option of the investor, at a closing price of the shares on a date prior to the conversion notice date. At the initial closing, the company will issue 6,339,872 shares at a satisfaction of a fee at a deemed price of $0.05 per share.