Glorious Creation Limited announced a non-brokered private placement consisting of a minimum of 16,000,000 securities up to a maximum of 22,000,000 Financing Securities at a price of CAD 0.25 per Financing Security for aggregate gross proceeds of a minimum of CAD 4,000,000 up to maximum of CAD 5,500,000 on May 4, 2022. Except for up to 2,000,000 Financing Securities which may, in the Company's discretion, be common shares of GCIT, all Financing Securities will be subscription receipts of GCIT. Each Subscription Receipt will be automatically converted, without payment of additional consideration or further action by the holder thereof, into one GCIT common share.

The finders' fee will be paid to certain arm's length finders in relation to the Financing consisting of a cash payment in an amount up to a maximum of 8% of the gross proceeds of the Financing. The finder's fee and the Financing are subject to CSE approval.