Global Education Communities Corp. Reports First Tranche Closing of Non-Brokered Private Placement

Vancouver, BC / ACCESSWIRE / September 3, 2024 / Global Education Communities Corp ("GECC" or the "Company") has successfully closed the first tranche of its non-brokered private placement, announced on August 27, 2024. The company raised gross proceeds of $1,405,000 through the issuance of convertible debentures.

The debentures and any common shares issued upon conversion are subject to a hold period until January 4, 2025. The financing is still subject to final approval from the Toronto Stock Exchange.

GECC is one of Canada's largest education and student housing investment companies. It operates multiple colleges, student rental apartments, recruitment centers, and corporate offices, both domestically and abroad. In fiscal 2023, GECC serviced over 14,277 students and held a portfolio exceeding $1.3 billion under its GEC® brand.