January 22, 2018 – Vancouver, B.C. – Glance Technologies Inc. (CSE: GET:CN /
CSE:GET.WT / OTCQB: GLNNF / FKT: GJT) announces that it has agreed to grant Fobi Pay
Technologies Inc. a non-exclusive licence to use the Glance Pay mobile payment, security, anti-
fraud and Glance Coin blockchain technology for a $5 million fee for a one year initial term,
renewable annually for $10,000 per year.
“Fobi Pay will offer big data analytics for networks of related businesses. Our value prop is
in merging purchase basket and historical data with social media and mobile data to create
highly personalized customer journeys, ” says Rob Anson, CEO of Fobi Pay, “By licencing
the Glance technology we will be able to offer a closed loop digital media and mobile
strategy for our industry partners”
IDC says that worldwide revenues for big data and business analytics will grow from $130.1
billion in 2016 to more than $203 billion in 2020 and that “Data monetization” will become a
major source of revenues, as the world will create 180 zettabytes of data (or 180 trillion
gigabytes) in 2025, up from less than 10 zettabytes in 2015.
Fobi Pay is also licencing big data analytics, social wifi and their real time offers engine platform
from Fobisuite Technologies Inc. By combining the Glance and Fobisuite technologies, Fobi
Pay will develop the technology for servicing a network of merchants localized around a
common theme such as shopping centres, professional sports leagues, and tourist
associations. Fobi Pay has the potential to capture data from itemized receipts, combine it
with any preexisting online shopping histories, match to social media profiles and attribute
the purchases to an individual shopper.
Fobi Pay’s target clients will potentially be able to access big data analyzed and interpreted
by artificial intelligence for retailers in the space and combine with a white label version of
Glance Pay to allow their shoppers to process in-location mobile payments. Users of the
white label app will potentially have access to Glance’s cutting edge blockchain based
loyalty rewards program, Glance Coin, as well as receive real-time exclusive and
personalized deals and coupons derived from big data analysis.
Additionally, Fobisuite has agreed to grant Glance a licence to use Fobisuite’s technology of
which allows for the digitization of receipts for data collection and the ability to customize and append receipts with advertisements, deals and coupons for merchant for a fee of $1.5
“Fobisuite’s agnostic technology platform will allow us to bypass traditional integrations with
POS systems to access real time bill and payment information, increasing the value of our
systems for merchants and improving our merchant adoption rate,” says Glance CEO
Desmond Griffin, “Additionally, this opens up further revenue opportunities from real-time
targeted advertising and big data analytics. We believe this is complementary to our current
Glance Pay platform and are excited to begin implementing this technology.”
The following are the material terms of the agreement between Fobi Pay, Glance and
- Glance will licence the Glance Pay mobile payment platform technology to Fobi Pay
in exchange for 20,000,000 shares of Fobi Pay, at a deemed price per share of
$0.25, for an aggregate deemed value of $5,000,000.
- Fobisuite will licence all of its technology to Fobi Pay in exchange for 20,500,00
shares of Fobi Pay, at a deemed price per share of $0.25, for an aggregate deemed
value of $5,125,000
- Fobisuite will licence the technology related to its usb/serial hardware device to
Glance for $1,500,000, payable by: (i) the issuance of 250,000 common shares of
Glance at a price of $2 per share equal to a value of $500,000, which will be subject
to a 4 month hold period; and (ii) $1 million in cash. The licence will be for an initial
term of ten years with perpetual subsequent one-year renewal terms. This device
allows for the digitization of receipts for data collection and the ability to customize
and append receipts with advertisements, deals and coupons for merchants.
- Pursuant to its stock option incentive plan, Glance Technologies has granted certain
advisors incentive stock options to purchase 650,000 common shares of the
company. The stock options are subject to the terms of the company’s stock option
plan and regulatory approval.
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 digital offers, 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 licencing agreements totalling $9,000,000 to date with Active Pay
Distribution Inc., Cannapay Financial Inc., Cannabis Big Data Holdings Inc., Fobi Pay
Technologies Inc. and Euro Asia Pay Holdings Inc. It also owns an end to end blockchain
solution for a rewards based cryptocurrency which is currently being integrated into the Glance
For more information about Glance, please go to www.glance.tech.
For more information, contact:
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", “will” 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 the Glance's profile on SEDAR at www.sedar.com.