Glance Technologies: Announces Normal Course Issuer Bid
January 31 2018 - 3:30AM
YASTEST
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.
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 Glance's
profile on SEDAR at www.sedar.com.
This
announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Glance Technologies Inc. via Globenewswire
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