VANCOUVER, Sept. 26, 2017 (GLOBE NEWSWIRE) -- Glance Technologies Inc. (CSE:GET.CN) (FKT:GJT) is pleased to announce the first tranche for 3,000,000 units of previously announced non-brokered financing at $0.40 per unit will close on September 27, 2017.
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. No finder’s fees were paid in connection with this closing but finders fees of 10% cash and warrants to buy units equal to 10% of the number of units sold may be paid on the next tranche of the financing which is anticipated to close on October 5, 2017.
This press release does not constitute an offer to sell or a solicitation of an offer to buy securities in the United States. The securities referenced herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold in the United States except in compliance with one or more exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws.
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 and fitness and wellness industries through Active Pay Distribution Inc. and Cannapay Financial Inc.
About Cannapay Financial Inc.
Cannapay is a partially owned subsidiary of Glance Technologies. Cannapay combines traditional financial services with innovative technology to provide enhanced digital financial services to legally operating businesses in the cannabis industry. Cannapay currently has two apps in development leveraging the Glance Pay mobile payment system. Both apps are available for international licensing.
For more information about Glance, please go to www.glance.tech .
For more information, 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.
