Glance Technologies: Announces Normal Course Issuer Bid
VANCOUVER, British Columbia, Jan. 31, 2018 (GLOBE NEWSWIRE) -- Glance Technologies Inc. (CSE:GET.CN) (CSE:GET.WT) (OTCQB:GLNNF) (FKT:GJT) announced today that it is making a normal course issuer bid ("Bid") through the facilities of the Canadian Securities Exchange. Under the Bid, Glance will purchase up to 6,500,000 common shares of the currently issued and outstanding common shares of Glance. The normal course issuer bid start date will be Monday, February 5, 2018 and will not extend beyond 12 months. The firm Glance will be using is Echelon Wealth Partners Inc. Any purchases will be made by Glance at the prevailing market prices of the shares at the time of purchase. All shares purchased will be cancelled. The actual number of shares purchased, timing of purchases and the price at which the shares are bought will depend upon future market conditions and potential alternative uses for Glance's cash resources.
Glance is commencing the Bid because it believes that, from time to time, the market price of its common shares may not fully reflect the underlying value of Glance's business and its future business prospects. Glance believes that at such times the purchase of common shares would be in the best interests of the Company. Such purchases are expected to benefit all remaining shareholders by increasing their equity interest in Glance.
About Glance Technologies Inc.
Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to shop, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards & interact with merchants. Glance offers targeted in-app marketing, geo targeted digital coupons, 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 license its technology totaling approximately $9,000,000 in the past year. It has also recently purchased an end to end blockchain solution for a rewards based cryptocurrency as well as printer intercept technology to combine big data analysis with artificial intelligence to deliver targeted offers to consumers.
For more information about Glance, please go to www.glance.tech.
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Vice President, Investor Relations
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.
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 Glance's profile on SEDAR at www.sedar.com.