Glance Technologies Reports Third Quarter 2019 Results

Vancouver, Canada / October 29, 2019 / Glance Technologies Inc. (CSE:GET / OTCQB:GLNNF / FKT:GJT) (“Glance” or the “Company”) ​today announced financial results for the three- and nine-month period ended August 31, 2019.

Financial Summary

The net loss was $3,643,238 or $0.03 per share in Q3 2019. The adjusted EBITDA for Q3 2019 was a loss of $949,279 compared to a loss of $2,352,648 in Q3 2018.  A significant factor of the net loss in the current period was a decrease in the market value of the marketable securities owned by Glance, producing an unrealized loss of $2,210,457 for the current three months.

Operating expenses were $1,125,300 in Q3 2019, compared to $3,074,163 in Q3 2018, a decrease of 63%.  Working capital at August 31, 2019 was $4,143,661 and the Company has no long-term debt.

“This quarter represents a major pivot to improve the cost structure and productivity of our business,” said Glance’s Interim CEO Jonathan Hoyles. “We will continue to focus on reducing costs and bettering the performance of our business to create value for our customers, employees, and shareholders. I am encouraged by the improvements we are making inside Glance and the new direction we will be taking with our platform.”

During the third quarter, Glance took significant action to improve its cost structure and better use its cash resources. The operating expenses in Q3 2019 decreased by 63% year over year, and the Company is committed to spending efficiently going forward.

As previously reported, one example of how Glance has decreased expenses is by moving to a nearby, smaller office space, which reduced monthly office lease costs to $15,000 from $50,000 and achieved a cost reduction of $35,000 per month.

“Glance made meaningful progress this quarter to streamline operations and change our unit economics,” said Hoyles. “We’ve re-aligned our talent to focus on our most important initiatives and are solidly focused on delivering enhancements to our mobile payment and loyalty platform that will provide more value.”

Activity this quarter includes entering into a mutual referral agreement with Squirrel Systems to expand reach and generate a passive channel of customer acquisition, as well as entering into an agreement with EasyPark where drivers can pay parking tickets on the spot using Glance Pay while Glance captures more end users through in-app marketing. In addition, Glance appointed Neil Crist to the Glance Board of Advisors to advise on the Company’s U.S. expansion plans.  Glance believes this appointment will better round out the advisory team and add additional value to the Company.

The Company’s marketing team also reviewed the Glance Pay® brand with the goal of having both merchants and end users understand what that brand is and where it’s going. Our findings indicate the Glance Pay® brand does not resonate enough with audiences, specifically millennials, and they want a more powerful engagement platform that rewards them for their loyalty. Once this review process is fully completed, which includes testing new features and revisiting our brand, our team will provide an update.

 Subsequent Events

We are pleased to report that we made progress on a number of our strategic priorities. Immediately following the end of the third quarter of 2019 we:

  • Right-sized the Company to respond to our business needs more efficiently, reduced head office spend, and improved accountability and visibility across teams
  • Better aligned key talent against our most important initiatives and recruited new talent
  • Eliminated non-core products and features to free up capacity of our technology and research and development team
  • Launched a new marketing video to increase our social media presence
  • Signed and onboarded a new merchant in Toronto
  • Appointed a new Chief Financial Officer.

Outlook

Looking ahead, the Company is well-positioned for growth in the restaurant sector where only about one third of restaurants accept mobile payment and operators admit they are lagging in technology use.

“We are confident in our ability to successfully launch an enhanced version of our mobile payment and loyalty platform in the coming months,” said Hoyles. “With our strategic investment in the right people and our focused effort in driving efficiencies across the Company, we are well-placed to deliver results in the next 12 to 18 months. We are doing everything in our power to propel the Company to a position of growth. We are up for the challenge and our team has rolled up their proverbial sleeves to make that happen.”

As previously mentioned, the Company’s strategic priorities for the coming year include:

  • Maximizing the number of merchants and end users, thereby increasing our revenue
  • Revamping our product features, repositioning our product and refreshing the brand
  • Further building relationships with POS companies
  • White labelling our platform to restaurant chains and players in adjacent vertical markets
  • Continuing to pursue US expansion
  • Signing enterprise accounts
  • Offering license rights in certain territories to allow us to scale more quickly
  • Working with additional re-sellers to more broadly distribute our payment / customer loyalty platform.

IFRS

The operational and financial information in this release is based on the consolidated figures in accordance with International Financial Reporting Standard (IFRS) and with the exception of information on investments and behaviour of markets, quarterly financial statements are reviewed by the Company’s independent auditors.

The Company’s complete financial results for the third quarter of 2019 are available in its Condensed Interim Consolidated Financial Statements and Management’s Discussion and Analysis, each of which are filed with Canadian securities regulators at www.sedar.com.

 About Glance Technologies Inc.

Glance 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 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.

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

 For more information, contact:

Tracey St. Denis, CPA CGA                                      Jonathan Hoyles

Chief Financial Officer                                               Interim Chief Executive Officer

833-338-0299                                                              833-338-0299

investors@glancepay.com                                         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: “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, the expectation that Glance will be able to improve the cost structure and productivity of its business,  that Glance will be able to increase its revenue, revamp its product features, reposition its product and refresh the brand, further build relationships with POS companies, white label its platform to restaurant chains and players in adjacent vertical markets, sign enterprise accounts, license rights in certain territories to scale more quickly, engage re-sellers to more broadly distribute its products, generate both transaction and Software as a Service (SaaS) fees. 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 that Glance’s software and applications may contain security problems, security vulnerabilities, or defects in design or manufacture, including “bugs” and other problems that could interfere with the intended operation of its software, risks related to delays in software development, risks related to the volatility of customer demand for Glance’s products, and the possibility that the expected benefits from the launch of new features will not be realized. The forward-looking information in this press release is also based on certain estimates, forecasts and projections, as well as expectations, beliefs and assumptions, including, among other things, that Glance will be able to achieve its business and technology development objectives. 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 Annual Information Form and Prospectus 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.

Glance Technologies – Letter to Shareholders

October 10, 2019 – Vancouver, B.C. Glance Technologies Inc. (“Glance” or the “Company”) (CSE:GET) (OTCQB:GLNNF) (FKT:GJT) is the owner of Glance Pay®, a mobile payments and digital loyalty platform.

Dear Shareholders:

This is my first letter to you as Interim CEO of our Company.

I would like to take this opportunity to update you on the current status of Glance and also have this letter serve as a document you can use as a reference for how we plan to move Glance forward over the next six to twelve months. We recently set clear goals and measures to drive progress toward achieving those goals in a short period of time. Progress always involves risks. As the saying goes, you can’t steal second base and keep your foot on first. It is my hope that with your support we can achieve a home run.

Our plans are ambitious but the lean and nimble team we have today is focused on delivering on our key priorities. We are working diligently to catapult Glance to the next stage of growth, and we will need your support and patience as we execute on our plans. In this letter, I’ll walk you through the actions we are taking to improve our financial position and strengthen our business.

Research and Development

We have been conducting quantitative and qualitative market research through external research, end user surveys and merchant interviews. Our findings reveal that end users want to be rewarded for their loyalty and they want more restaurant locations.

While our users love the convenience of being able to pay their bills quickly and easily, we believe that convenience alone is not enough to drive user adoption and send traffic and sales to our merchants. Our research shows that users want to be rewarded for their loyalty and receive deals and discounts based on their past purchases. They also want the ability to order in advance and receive suggestions on other items to try, or locations to check out based on their dining history and/or location.

At the same time, while merchants appreciate the revenue boost they may receive from quicker customer turnover, their number one reason to adopt new technology is to drive sales and traffic into their establishment.

They also want better insights into their customers: their eating and spending preferences, when and how often they dine, and who are their top customers. Armed with this data, a merchant can then engage customers through personalized campaigns, thereby not only retaining customers but also keeping them loyal and encouraging referrals to friends.

Merchants also want to improve operational efficiencies even further by tying in our payment platform into their POS system to accommodate pre-orders and have the ability to prepare orders more quickly.

The opportunity exists for Glance to further enhance and modernize the dining experience.

Our mobile payment and loyalty technology platform has the potential to do more, to enable merchants to not only provide their customers with the ability to self-pay real time and earn digital rewards, but also have a much more engaging customer experience.

We have bold plans to advance Glance to the next phase of growth. Before I outline what that is, I would like to take a moment to review our current status as a company.

Current Status

  1. We’ve right-sized the Company to respond to our business needs more efficiently, reduced head office spend, and improved accountability and visibility across teams.
  1. We’ve better aligned key talent against our most important initiatives and recruited new talent to the organization.

Our exceptionally able CTO, Gary Zhang, has agreed to be compensated for one-third of his time in Glance shares. Gary believes deeply in the value and promise of Glance, and this is demonstrated by his commitment to forego cash compensation in exchange for the potential future value of Glance stock.

We hired two talented new developers that are working on our new features including revamping our loyalty rewards program.

In addition, we continue to work with our U.S. advisor in planning out our strategy to grow in the U.S. market and have been connecting with executives of some mid-tier chains.

  1. We’ve eliminated non-core products and features such as Glance PayMe to free up capacity of our technology and R&D team.
  1. We’ve set fewer, more impactful priorities. This strategic clarity and focus allows Glance to sequence its efforts to maximize impact.
  1. We continue to reduce costs in many categories such as monthly subscriptions, investor relations and marketing expenses where we were not seeing a sufficient return on investment. Further, a sizeable reduction in our monthly costs was achieved by moving to our new, much smaller office at 555 Burrard Street in September. The monthly rent at our previous office was $50,000 per month. In September, we entered into a sublease for our new office and the rent is approximately $15,000 per month.

Marketing and Branding

We have been working with an outside marketing agency to build our social media presence. Part of our work with the agency includes launching a new video, which you can preview here: https://bit.ly/2MiaicQ. We will advertise this video on YouTube and other social media platforms in an edited and condensed format.

As we build out and launch new features, we’ll be focusing more on the loyalty and rewards aspect of our platform, ensuring that our product messaging and positioning resonates with our primary target market of millennials and that it conveys our unique value proposition.

Sales, Distribution and Pricing

We recently launched a new merchant, The Pint Public House at 277 Front Street in Toronto, which is a busy, high profile sports bar serving over 40 draft beers and chicken wings dressed with a choice of 40 sauces. If you’re in the area, please check out our newest merchant customer.

We continue to take a hard look at our business model and unit economics to see how we can reduce our cost of customer acquisition and generate more revenue.

I’m pleased to report that we have recently updated our product pricing and will be launching an eCommerce store to sell turnkey Glance Pay launch kits directly to restaurants. As previously announced, Glance is requiring that merchants pay a monthly subscription fee for both our PayByPhoto and integrated Real Time Bill solutions, post a thirty day free trial offer.  Moreover, we are looking into the possibility of charging a small user transaction fee, in addition to, the payment processing fee. This has become the standard in the mobile payments market and Glance has an opportunity to capture additional revenue. At the same time, we have identified areas of spending to eliminate such as promotional dollars where we do not see a sufficient return on investment.

 Future Objectives

As I mentioned, we are determined not to make the mistake of focusing on the wrong priorities, wrong revenue drivers, or ignoring the costs of growth. We will remain vigilant about moving our resources from areas of lower productivity to areas of higher productivity and yield.

Going forward, our roadmap over the next year includes:

  1. Maximizing the number of merchants and end users, thereby increasing our revenue
  2. Revamp our product features, reposition our product and refresh the brand
  3. Further build relationships with POS companies
  4. White labelling our platform to restaurant chains and players in adjacent vertical markets
  5. Continue to pursue US expansion
  6. Sign enterprise accounts
  7. Offer license rights in certain territories to allow us to scale more quickly
  8. Work with additional re-sellers to more broadly distribute our payment / customer loyalty platform

As well, we are always looking at new opportunities to expand our operations. While our present liquid resources in cash and marketable securities are available to fund our Company, we are also always alert to partnership, joint ventures, and acquisition opportunities.

Final Thoughts

I’d like to extend my sincere appreciation to Glance employees and the Board for their commitment and passion to advance this Company forward. We have work to do, but we’ve identified clear opportunities for improvement and are addressing them with focus and energy.

We are executing on the plan we’ve laid out to create value for our shareholders, for our merchant customers and our end users. Now it’s more about what we do than what we say.

Thank you for the opportunity to earn your confidence and trust.

Jonathan Hoyles

About Glance Technologies Inc.

Glance Technologies is the owner of Glance Pay® a smartphone payment application that enables merchants to provide their customers with quick secure payments, digital rewards, and a better customer experience.

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

For more information, contact:

Jonathan Hoyles

Interim CEO

(833) 338-0299

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: “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, the expectation that Glance will be able to improve its financial position and strengthen its business,  the expectations that Glance  will be able to increase its number of merchants and end users, that there will be demand for Glance’s turnkey launch kit through its eCommerce store, that Glance merchants will be willing to pay fees associated with Glance’s news pricing, that Glance will be able to increase its revenue, revamp its product features, reposition its product and refresh the brand, further build relationships with POS companies, white label its platform to restaurant chains and players in adjacent vertical markets, sign enterprise accounts, license rights in certain territories to scale more quickly, engage re-sellers to more broadly distribute its products, generate both transaction and Software as a Service (SaaS) fees. 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 that Glance’s software and applications may contain security problems, security vulnerabilities, or defects in design or manufacture, including “bugs” and other problems that could interfere with the intended operation of its software, risks related to delays in software development, risks related to the volatility of customer demand for Glance’s products, and the possibility that the expected benefits from the launch of new features will not be realized. The forward-looking information in this press release is also based on certain estimates, forecasts and projections, as well as expectations, beliefs and assumptions, including, among other things, that Glance will be able to achieve its business and technology development objectives. 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 Annual Information Form and Prospectus 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.

Glance Technologies Announces Change of Chief Financial Officer

September 5, 2019 – Vancouver, B.C. – Glance Technologies Inc. (“Glance” or the “Company”) (CSE:GET) (OTCQB:GLNNF) (FKT:GJT) is pleased to announce the appointment of Ms. Tracey St. Denis, CPA, CGA, to the Company as its new Chief Financial Officer. Ms. St. Denis will replace Issa Nahkleh as CFO effective October 1, 2019.

Interim CEO Jonathan Hoyles commented “We are pleased to welcome Ms. St. Denis to the team.  Ms. St. Denis has extensive experience and financial and accounting expertise which will support the growth and strategic direction of the Company.”

“It is clear to me that Glance has a committed team, supportive and engaged clients, and is an innovator in its space,” said Ms. St. Denis. “I look forward to helping the leadership team manage and maximize the Company’s growth opportunity.”

Ms. St. Denis is a Chartered Professional Accountant and Certified General Accountant with the Chartered Professional Accountants of British Columbia. She has more than 20 years of experience as a director and officer of public companies and is currently also the CFO of Turtle Island Corporation and is the Chief Accountant for THC Biomed Intl Ltd. Ms. Denis previously held the position of Chief Financial Officer for AgraFlora Organics International, Inc.

The Company thanks Mr. Nahkleh for his services and wishes him the best in his future endeavours.

About Glance Technologies Inc.

Glance Technologies is the owner of Glance Pay® a mobile payment and rewards platform that enables merchants to provide their customers with quick secure payments, digital rewards, and a better customer experience.

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

 For more information, contact:                                                                  

Jonathan Hoyles

Interim CEO

(833) 338-0299

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: “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. The forward-looking information in this press release is also based on certain estimates, forecasts and projections, as well as expectations, beliefs and assumptions, including, among other things, that Glance will be able to achieve its business and technology development objectives. 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 Annual Information Form and Prospectus 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.

Glance Technologies Announces Agreement with EasyPark

August 8, 2019 – Vancouver, B.C. Glance Technologies Inc. (“Glance” or the “Company”) (CSE:GET) (OTCQB:GLNNF) (FKT:GJT) is pleased to announce that we have entered into an agreement with EasyPark to provide Glance Pay® as a mobile payment option for parking violation ticket payments.

Glance Pay®, the mobile payment solution of Glance Technologies Inc. will be providing parking violation ticket payment services to assist EasyPark with additional payment options to provide their customers when they receive a parking ticket.

“Providing EasyPark with the ability to have Glance Pay® as a payment option for their customers to pay parking tickets gives customers a seamless option to pay early and save money on their first payment,” says Jonathan Hoyles, Interim CEO, Glance Technologies.

“I am a fan and also a Glance Pay® user as I see the value Glance brings to the restaurant industry,” says Nigel Bullers, CEO, EasyPark. “I wanted to bring that ease of use to our customers to bridge an opportunity to provide even more convenience.”

About EasyPark

Founded in 1948, EasyPark’s mission is straightforward: “make parking easy.” Headquartered in Vancouver, British Columbia, its mandate is to provide safe, convenient and affordable parking, with operations that include 135 parking facilities in 60 client accounts in B.C., which are part of the EasyPark brand. For more information about EasyPark, please visit www.easypark.ca.

 About Glance Technologies Inc.

Glance Technologies is the owner of Glance Pay® a smartphone payment application that enables merchants to provide their customers with quick secure payments, digital rewards, and a better customer experience.

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

 For more information, contact:

Jonathan Hoyles

(833) 338-0299

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: “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. Such risk factors include, among other things, defects in design or manufacture of Glance’s software, including “bugs” and other problems that could interfere with the intended operation of its software and risks related to the volatility of customer demand for Glance’s products. The forward-looking information in this press release is also based on certain estimates, forecasts and projections, as well as expectations, beliefs and assumptions, including, among other things, that Glance will be able to achieve its business and technology development objectives. 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 Annual Information Form and Prospectus 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.

Glance Technologies Announces Appointment of U.S. Technology Entrepreneur Neil Crist To Advisory Board

July 25, 2019 – Vancouver, B.C. – Glance Technologies Inc. (“Glance” or the “Company”) (CSE:GET) (OTCQB:GLNNF) (FKT:GJT) is pleased to announce that it has appointed Neil Crist to its Board of Advisors, to assist Glance with its expansion into the United States.

One of Mr. Crist’s most notable business successes was as the founder and CEO of Venuelabs, a location-based analytics company, based in Seattle, Washington, that was acquired by Groupon in 2015. Mr. Crist has most recently partnered with Peter Rex as Director of Product for a new technology business that is revolutionizing the real estate maintenance space. Mr. Crist formerly held senior roles at Moz and Groupon. At Moz, Mr. Crist served as the Head of Product, Design & Engineering where he was responsible for the company’s total product portfolio producing over $50M in annual recurring revenue, with double digit year over year revenue growth.

“I am very excited to be joining Glance as I believe in the innovation of the Glance Pay® mobile payment solution, the company and its’ team,” said Mr. Crist. “Glance’s solution provides such value to the hospitality industry in the U.S. due to the pain points being so prevalent here.”

“With Glance’s priority focus being on growth within the United States, having Mr. Crist provide his experience, connections, industry insight and knowledge to our team strengthens our ability to expand in key markets and provides further expertise aligned with our strategic vision,” said Mr. Jonathan Hoyles, Interim CEO of Glance Technologies. “We are excited to welcome Neil to our team and look forward to working with him.”

About Glance Technologies Inc.

Glance Technologies is the owner of Glance Pay® and Glance PayMe, a pair of complementary smartphone payment applications that enable merchants to provide their customers with quick secure payments, digital rewards, and a better customer experience.

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

 For more information, contact:

Jonathan Hoyles

Interim CEO

(833) 338-0299

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: “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. Such risk factors include, among other things, risks that Glance’s software and applications may contain security problems, security vulnerabilities, or defects in design or manufacture, including “bugs” and other problems that could interfere with the intended operation of its software and risks related to the volatility of customer demand for Glance’s products. The forward-looking information in this press release is also based on certain estimates, forecasts and projections, as well as expectations, beliefs and assumptions, including, among other things, that Glance will be able to achieve its business and technology development objectives. 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 Annual Information Form and Prospectus 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.

Glance Technologies Announces Mutual Referral Partnership with Leading North American Point of Sale Provider

July 17, 2019 – Vancouver, B.C. Glance Technologies Inc. (“Glance” or the “Company”) (CSE:GET) (OTCQB:GLNNF) (FKT:GJT) is pleased to announce that we have entered into a mutual referral agreement with Squirrel Systems, a leading North American point of sale provider to the restaurant and hospitality industry.

Glance Pay®, the mobile payment solution of Glance Technologies Inc., has a native integration with Squirrel Systems that allows our restaurant partners the convenience of having Glance incorporated into their operations and become fully automated. This includes the ability to benefit from Glance’s innovative ‘Real Time Bill™’ feature, that provides guests with the ability to access their bill on their phone and pay at the guests’ convenience, all while saving the server valuable time.

“With thousands of hospitality clients in North America, this partnership with Squirrel Systems provides Glance with highly qualified restaurant and bar leads throughout North America,” says Jonathan Hoyles, Interim CEO, Glance Technologies. “Having Squirrel recommend Glance to their clients signifies an even stronger competitive advantage for our mobile payment solution. Our teams have shown a positive working relationship and I am pleased with the partnership.”

About Squirrel Systems Ltd. of Canada.

Squirrel revolutionized the industry with the first touchscreen restaurant POS system and continues to introduce market leading innovations to help shape the industry. With a proven platform, extensive domain expertise, and industry leading service and support, Squirrel helps food and beverage operators enable amazing guest experiences.

About Glance Technologies Inc.

Glance Technologies is the owner of Glance Pay® and Glance PayMe, a pair of complementary smartphone payment applications that enable merchants to provide their customers with quick secure payments, digital rewards, and a better customer experience.

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

 For more information, contact:

Jonathan Hoyles

Interim Chief Executive Officer

(833) 338-0299

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: “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. Such risk factors include, among other things, risks that Glance’s software and applications may contain security problems, security vulnerabilities, or defects in design or manufacture, including “bugs” and other problems that could interfere with the intended operation of its software and risks related to the volatility of customer demand for Glance’s products. The forward-looking information in this press release is also based on certain estimates, forecasts and projections, as well as expectations, beliefs and assumptions, including, among other things, that Glance will be able to achieve its business and technology development objectives. 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 Annual Information Form and Prospectus 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.

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