15:15:26 EDT Fri 26 Apr 2024
Enter Symbol
or Name
USA
CA



Glance Technologies Inc
Symbol GET
Shares Issued 110,480,698
Close 2017-10-18 C$ 0.71
Market Cap C$ 78,441,296
Recent Sedar Documents

Glance closes $3.18-million final tranche of financing

2017-10-19 02:16 ET - News Release

Mr. Desmond Griffin reports

GLANCE ANNOUNCES OVER $9 MILLION IN CASH ON HAND AND CLOSING OF FINANCING

Glance Technologies Inc. has now over $9-million in cash and has closed $3.18-million for the second and final tranche of its financing announced Sept. 26, 2017, for 40-cent 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 75 cents per share, for a period of 12 months from closing. Finders' fees of 10 per cent cash and 10 per cent warrants are being paid to certain finders in connection with the financing.

"Being well capitalized enables us to pursue a number of initiatives, including U.S. expansion, mobile technology platform development, joint ventures, cryptocurrency and block chain, as well as other opportunities we are currently exploring," says Glance chief executive officer Desmond Griffin. "We believe being well funded is a valuable competitive advantage, particularly at this exciting time for mobile payments, block chain and cryptocurrencies."

Spiros Margaris, named worldwide No. 1 fintech influencer and Glance adviser, said: "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 smart phone users choose where to dine, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards, and 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.

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