GLANCE TECHNOLOGIES VIA CANNAPAY ENTERS INTO AGREEMENT TO BUY AYUVERDIC HOLISTIC FORMULAS TO BLEND WITH CANNABIS FOR INTERNATIONAL DISTRIBUTION

Tuesday, September 5, 2017

September 5, 2017 – Vancouver, B.C. – Glance Technologies Inc. (CSE:GET.CN) (OTCQB:GLNNF) (CSE:GET.WT) (FKT:GJT) announces that its partially-owned subsidiary, Cannapay Financial Inc., has entered into an agreement to acquire the rights to a package of holistic Ayurveda formulas that are intended to treat a variety of ailments. Cannapay has agreed to purchase all of the intellectual property pertaining to the creation, production and manufacturing of the products and has purchased rights to blend the products with Cannabis to create new products (the “Cannabis Products”).  The agreement also grants Cannapay international distribution rights to the products and the Cannabis Products in all territories except Canada.


"This acquisition gives Cannapay the know-how to partner with licensed growers, producers and distributors in international jurisdictions to create Ayuverdic based products containing cannabis," says Glance President Penny Green, "We intend to brand, market, sell and distribute these Ayuverdic Cannabis products internationally, in accordance with all applicable laws, through the mobile apps using the Glance Pay technology that we are creating for the Cannabis market.”


The following products are being acquired by Cannapay from Cannacopia Therapeutics Inc.:

Product

Key Ingredients

Intended Uses

Gel

hemp root and essential oils

remove skin spots, rashes, treat eczema, psoriasis, hives, burns, allergies

Balm

Organic coconut, hemp root and essential oils

Remove skin spots, rashes, treat eczema, psoriasis, hives, burns

Topical Analgesic

Aloe Vera, arnica, menthol, and other essential oils

To relieve pain on or below the skin

2 Tea blends

Various herbs

Relaxation

Sexual Lubricant

Ayuverdic oil

Enhanced sexual experience

Organic Hand Cleaner and Scrub

Essential oils, free of chemicals and parabens

All natural hand cleanser

Organic Glass Cleaner

Salt and fat and hemp binder

All natural, eco-friendly food safe cleaner


The products have not been clinically or otherwise tested to confirm any of the intended uses described above.  Cannapay intends to partner with licensed producers in various jurisdictions to complete the research and development needed to blend TCH or CBD or both into each of the products and meet local testing and licensing and other requirements so that the new Cannabis Products can be legally produced and sold in other countries.


Pursuant to the agreement, Cannapay, through its wholly owned subsidiary Indulgence Edibles Inc., is purchasing all the know-how related to creating and using the Products including the formulas and processes for combining the ingredients, medicinal properties and recommended dosages and how to blend the herbs and essential oils, all according to ancient Ayuverdic principals.  For the purchase of these intellectual property rights and the international distribution rights, Cannapay is paying $216,000 in stock and cash and has agreed to engage Cannacopia Therapeutics as a consultant for at least two years at $5,000 per month. The monthly consultancy fee will increase to $10,000 upon Cannapay achieving $40,000 in monthly net revenues for the sale of the Cannabis Products.  Cannapay will also pay to Cannacopia a 10% royalty of net revenues.  Cannacopia has agreed to create other products for Cannapay, including a chemical free sunscreen, an anti-aging solution for the skin and 6 tea blends.


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. One is Cannapay, which is a mobile to mobile payment system for the cannabis industry.  The other is Super Dope Delivery, for mobile ordering and delivery of cannabis.  Both apps are available for international licensing.


About Cannacopia Therapeutics Inc.

 

Cannacopia has formulas and processes for combining certain plant and root based ingredients to create Ayuverdic products, and sells hemp root which serves as a key ingredient in many of the products.  The products have been created so that they are suitable to be blended with tetrahydrocannabinol (THC) and cannabidiol (CBD), as found in many ancient Ayuverdic formulas.  The President and principal of Cannacopia is a holistic life consultant and teacher with expertise in Ayuverdic medicine and provides advice on Ayuverdic treatments and diets to be followed in conjunction with medically prescribed cannabis.


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 food & drink, settle bills, access digital receipts, earn great rewards, & interact with merchants. Glance is building a valuable network of merchants and consumers, and offers targeted in-app marketing, 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, a merchant manager apps, large scale technology hosting environment with sophisticated anti-fraud technology and lightning fast payment processing.

For more information about Glance, please go to Glance Technologies’ website

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 certain forward-looking statements within the meaning of applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Specifically, the statements referring to Glance’s planned expansion in the United States and Canada, and the statement that Glance will expand its reach in the United States are forward-looking statements, and there can be no certainty that these statements will prove to be correct.

Although Glance believes that the expectations reflected in the forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. Such forward-looking statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements.

CES:GET | Glance Technologies Inc. CES:GET | Glance Technologies Inc. CES:GET | Glance Technologies Inc.

INVESTOR RELATIONS


200-1238 Homer Street
Vancouver, BC V6B 2Y5

Investors@GlancePay.com

Glance Pay Mobile Payment App | Learn more
Download FREE Glance Pay App Download FREE Glance Pay App Apple | Download FREE Glance Pay App Android | Download FREE Glance Pay App Download FREE Glance Pay App