VANCOUVER, British Columbia, Dec. 27, 2017 (GLOBE NEWSWIRE) -- Glance Technologies Inc. (CSE:GET) (OTCQB:GLNNF)
(FKT:GJT) (the “Company”) is pleased to announce that it has closed the previously announced bought deal public
offering (the "Offering") of 3,684,000 units of the Company (the “Units”) at a price of C$3.00
per Unit (the “Offering Price”) pursuant to an underwriting agreement (the “Underwriting
Agreement”) with Echelon Wealth Partners Inc. and PI Financial Corp. as co-lead underwriters, (together, the
“Underwriters”) for gross proceeds to the Company of approximately $11,052,000. Pursuant to the Underwriting
Agreement, the Underwriters have been granted an over-allotment option that may be exercised for a period of 30 days from the
closing of the Offering to purchase 552,600 additional Units at the Offering Price.
Each Unit consists of one common share of the Company (each, a “Unit Share”) and one unit
purchase warrant (each, a “Unit Warrant”). Each Unit Warrant is exercisable into one unit (each, a
“Subsequent Unit”) at an exercise price of $3.84 per Subsequent Unit for a period of 12 months following the
closing of the Offering. Each Subsequent Unit consists of one common share of the Company (each, a “Subsequent Unit
Share”) and one common share purchase warrant (each, a “Share Warrant”) exercisable at an exercise price
of $5.00 per common share (“Common Share”) for a period of 24 months following the closing of the Offering. Both
the Unit Warrants and the Share Warrants are transferable by the holders thereof.
In consideration for the services provided by the Underwriters and pursuant to the Underwriting Agreement, the
Underwriters received a cash commission equal to 7% of the gross proceeds raised under the Offering and Units equal to 7% of the
total number of Units sold under the Offering.
Glance now has over $17,400,000 cash in the bank to pursue its business goals.
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.
Glance Pay is building a network of international advisors and developing a cryptocurrency which will offer
reward elements for use on its platform.
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: “will” “may” "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 such
forward-looking information. Complete discussion of risk factors of the Company and their potential effects on forward-looking
information may be accessed through Glance's profile on SEDAR at www.sedar.com. In particular, Glance may not be successful
in building its planned cryptocurrency or there may not be sufficient support for the cryptocurrency to make it a
success.
