VANCOUVER, British Columbia, Oct. 19, 2017 (GLOBE NEWSWIRE) -- Glance Technologies Inc. (CSE:GET.CN) (OTCQB:GLNNF) (FKT:GJT) is pleased to announce it now has over $9,000,000 in cash and today closes $3,180,000 for the second and final tranche of its financing announced September 25, 2017 for $0.40 units. Each unit consists of one common share and one share purchase warrant which entitles the holder to acquire an additional share at a price of $0.75 per share for a period of 12 months from closing. Finder’s fees of 10% cash and 10% warrants are being paid to certain finders in connection with financing.
“Being well capitalized enables us to pursue a number of initiatives including US expansion, mobile technology platform development, joint ventures, cryptocurrency, and blockchain, as well as other opportunities we are currently exploring,” says Glance CEO Desmond Griffin, “We believe being well funded is a valuable competitive advantage, particularly at this exciting time for mobile payments, blockchain, & cryptocurrencies.”
Spiros Margaris, named worldwide #1 FinTech influencer and Glance Advisor says, “Glance Technologies is well prepared and positioned to execute its expansion strategy successfully in 2018. I am very excited to be part of this success story.”
About Glance Technologies Inc.
Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards & interact with merchants. Glance is building a valuable network of merchants and consumers, and offers targeted in-app marketing, geo targeted digital coupons, social media marketing, customer feedback, in-merchant messaging and custom rewards programs. The Glance Pay mobile payment system consists of proprietary technology, which includes user apps available for free downloads in IOS (Apple) and Android formats, merchant manager apps, a large scale technology hosting environment with sophisticated anti-fraud technology and lightning fast payment processing. Glance Pay has entered into significant licensing agreements to access the cannabis, fitness and wellness, foreign student and tourist markets through Cannapay Financial Inc, Active Pay Distribution Inc. and Euro Asia Pay Holdings Inc.
For more information about Glance, please go to www.glance.tech or contact:
Christina Rao
Vice President, Investor Relations
(604) 723-7480
investors@glancepay.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Glance cautions investors that any forward-looking information provided by Glance is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking complete discussion of such risk factors and their potential effects which may be accessed through the Glance's profile on SEDAR at www.sedar.com.