Vancouver, Canada, February 3, 2020 ― Glance Technologies Inc. (CSE:GET / OTCQB:GLNNF / FKT:GJT) (“Glance” or the “Company”) today announced that it has closed a non-brokered private placement by issuing 3,836,845 units (“Units”) at a price of CAD $0.046 per Unit, for aggregate gross proceeds of CAD $176,495.
Each Unit consists of one common share and one common share purchase warrant, with each warrant exercisable into one common share at a price of CAD $0.08 per share for 24 months from the issuance date of the Units.
The private placement is subject to the approval of the Canadian Securities Exchange and the securities will be subject to a four-month and one day hold period under securities laws. There were no finders’ fees paid as part of the private placement.
The proceeds of the private placement will be used primarily towards product development, marketing, sales and operations.
About Glance Technologies
Vancouver-based Glance Technologies is the parent company of Glance Pay (https://glancepay.com), a streamlined mobile payment app and loyalty management platform that provides fast, frictionless payments and digital rewards, resulting in a better customer experience. Glance Pay has established a foothold in the full-service restaurant sector where the platform enables merchants to not only accept in-dining mobile payments, but also automate loyalty, and instantly deliver rewards to customers based on their purchasing patterns.
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Chief Executive Officer
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: “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 discussion of Glance’s business strategies and its expectations concerning future operations. 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. 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.