Glance Technologies CEO Desmond Griffin: Election Results Show Strong Support for Glance Nominees for the Board of Directors

VANCOUVER, British Columbia, June 12, 2018 (GLOBE NEWSWIRE) -- Glance Technologies Inc. (CSE:GET.CN) (OTCQB:GLNNF) (FKT:GJT) (“Glance” or the “Company”) today announced that a contested vote by shareholders for the board of directors of Glance (the “Board”) has delivered strong support for Glance’s five nominees for the Board (the “Glance Nominees”).

“We want to thank all shareholders for voting, and for giving the board and management team a clear and unequivocal mandate,” said Desmond Griffin, CEO of Glance. “We look forward to focusing all of our energy on advancing our strategy and delivering value for shareholders after the annual general meeting, when we will have put this unnecessary proxy contest behind us.”

Vote analysis

Approximately 47 million shares were voted in support of Mr. Griffin, CEO of Glance.  Approximately 29.5 million shares were voted in support of dissident shareholder Penny Green.

After excluding shares held by Mr. Griffin and Angela Griffin, Glance’s Chief Technology Officer, at April 20, 2018 (the “Record Date”), approximately 31.9 million shares were voted in support of Mr. Griffin. After excluding shares held by Ms. Green at the Record Date, approximately 14.4 million shares were voted in support of Ms. Green. On that basis, support for Mr. Griffin was approximately 2.2 times higher than support for Ms. Green. 

Ms. Green’s support, excluding shares controlled by her at the Record Date, amounted to approximately 10.6% of Glance’s 135,880,880 issued and outstanding shares as of the Record Date.

Vote Results

If all voted shares are included, nearly 60% of the voted shares were in support of the Glance Nominees. Voting results for individual nominees are as follows:

Glance shareholders also voted to confirm the number of directors of the Company for the ensuing year at five, to appoint Saturna Group Chartered Professional Accountants LLP as the Company’s auditor for the fiscal year ending November 30, 2018 and to authorize the Board to fix the remuneration to be paid to the auditor, and to confirm, ratify and approve the Company’s Advance Notice Policy, as follows:

1. Based on 79,752,402 shares voted.

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 and 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 has also recently purchased a blockchain solution and is working on a rewards-based cryptocurrency.

For more information about Glance, please go to www.glance.tech.

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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: “may”, “believe”, “thinks”, “expect”, “exploring”, “expand”, “could”, “anticipate”, “intend”, “estimate”, “plan”, “pursue”, “potentially”, “projected”, “should”, “will” and similar expressions, or are those, which, by their nature, refer to future events. These forward-looking statements, which involve risks and uncertainties, relate to, among other things, the development of a rewards-based cryptocurrency. Although Glance considers these forward-looking statements to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among other things, risks related to Glance’s ability to develop a rewards-based cryptocurrency. Forward-looking information and forward-looking statements are in addition based on various estimates, forecasts and projects as well as expectations, beliefs and assumptions, including, without limitation, that Glance will be able to develop a rewards-based cryptocurrency.  For additional information with respect to these and other factors and assumptions underlying the forward looking statements in this press release, see the section entitled “Risk Factors” in the most recent Prospectus and Annual Information Form of Glance, which may be accessed through Glance’s profile on SEDAR at www.sedar.com. 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 statements. Undue reliance should not be placed on such forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur.