Follow Us! Like Our Page!

Gallagher Closes $500,000 Private Placement

Press Release

Kelowna, British Columbia – July 6, 2023-  Gallagher Security Corp. (CSE: GLL) (the “Company”) is pleased to announce that it has closed it’s $500,000 non-brokered private placement (the “Offering”) announced June 16,2023. The placement was comprised of 10,000,000 Units of the Company (the “Units”) issued at a price of $0.05 for aggregate gross proceeds of $500,000. Each unit consists of one common share (each a “Common Share”) and one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant entitles the holder thereof to acquire one Common Share at the price of $0.06 per share for a period of 36 months from closing. The Common Shares and Warrants, and any Common Shares issuable upon the exercise of the Warrants, issued statutory hold period of 4 months from closing.

The Company will pay Finders fees in connection with subscriptions from subscribers introduced to the Offering.

The Company intends to use the net proceeds from the Offering to fund the (“Carbonethic”) LOI to acquire certain generative artificial intelligence intellectual property assets (“Woodlands.ai”) from Carbonethic for cash consideration and certain contingent payments.

The Units and underlying securities to be issued under the Offering have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to U.S. Persons absent registration or an applicable exemption from registration. This press release is not an offer or a solicitation of an offer of securities for sale in the United States, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Gallagher Security Corp.

As previously announced, the Company is pursuing opportunities in the Carbon Credits sector with High Bar First Nations and Treelab Carbon Technologies. High Bar and TreeLab will work together to plant new trees on indigenous lands located in the Fraser Canyon/Cariboo region in B.C. for the purpose of carbon sequestration. The Company intends to invest in the development of Woodlands.ai and use the product to support its initiatives with High Bar and Treelab.

Further Information

Further details regarding the proposed transaction and the resulting entity will be provided in a comprehensive news release if, and when, the parties enter into a definitive agreement.

The definitive agreement will incorporate the principal terms of the proposed transaction described in the LOI, and in addition, such other terms and provisions of a more detailed structure and nature as the parties may agree upon after receiving further tax, legal and financial advice from their respective advisors.

ON BEHALF OF THE BOARD

“Dev Randhawa”
Dev Randhawa, CEO

The CSE does not accept responsibility for the adequacy or accuracy of this news release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, including any of the securities in the United States of America. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any state securities laws and may not be offered or sold within the United States or to, or for account or benefit of, U.S. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.

IBF4

Loading

NationTalk Partners & Sponsors Learn More