Toronto, Ontario--(Newsfile Corp. - May 5, 2014) - GC-Global Capital Corp. (TSXV: GDE.A) ("Global Capital") and 3 Tier Logic Inc. ("3 Tier") are pleased to announce the completion of a 12% secured convertible debenture (the "Loan") in the principal amount of $1,015,000. Global Capital's total participation was $250,000 of the total financing. The net proceeds of the Loan shall be used to as working capital for 3 Tier.
Founded in 2008, 3 Tier develops proprietary digital marketing applications for Web and mobile use, connecting with Facebook, Twitter and Instagram. 3 Tier has five years of success working with some of the most exciting brands in the world, developing cutting-edge technology.
In 2012, 3 Tier began development of "Platform3", a proprietary social media marketing, data mining and reward platform. Platform3 captures data on consumers that share information about specific brands to family and friends using social media, providing detailed consumer profiles including demographics (name, address, age and gender), influence (how many friends and followers they have) and key behaviours (how often they share about the brand). Platform3 stores these consumer profiles on a database for clients (brands). Brands can connect directly with their consumers, growing their businesses and driving revenues.
The Loan matures two years from the effective closing date of March 17, 2014, and bears interest at 12% per annum, payable annually for the first year and 15% per annum payable for the second year. The debenture is convertible into common shares of 3 Tier at a price of $0.10 per share.
Also, Global Capital announces that KCO Capital Inc. ("KCO") (TSX VENTURE: KCO.P), a Capital Pool Company ("CPC") trading on the TSX Venture Exchange, has entered into a share exchange agreement dated March 10, 2014, as amended March 31, 2014, as further amended April 30, 2014 (the "Agreement") regarding a proposed transaction with 3 Tier. Subject to any regulatory, director or other approvals that may be required, the completion of satisfactory due diligence by KCO, and other conditions contained in the Agreement, it is anticipated upon completion of the Qualifying Transaction, KCO will be listed on the Exchange as a Tier 2 technology issuer. There can be no assurance that the conditions will be met or that the transaction will be completed as proposed or at all.
About Global Capital
Global Capital is a merchant bank, which provides bridge loan services, to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology. For further information, please contact Jason G. Ewart at (416) 488-7760 or visit Global's website at www.gcglobalcapital.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
