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Glance Technologies (CSE:GET) initiates normal course issuer bid for 6.5 million shares

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Under the terms of this issuer bid, Glance may purchase up to 6.5 million shares on the open market, starting Monday February 5th and potentially extending for 12 months.

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Additional Information:

Company: Glance Technologies
Website: http://glance.tech
Stock Symbol: CSE: GET
Date Published: Jan 31, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for InvestmentPitch media

Glance Technologies has initiated a normal course issuer bid through the facilities of the Canadian Securities Exchange.

Under the terms of this issuer bid, Glance may purchase up to 6.5 million shares on the open market, starting Monday February 5th and potentially extending for 12 months.

The actual number of shares purchased for cancellation, the timing of the purchases and the price at which the shares are bought will depend on market conditions.

Obviously if management decides it has a better use of these funds to increase shareholder value, it is under no obligation to continue to buy shares in the open market.

All purchases will be executed through Echelon Wealth Partners.

There are a few regulations designed to restrict a company from using a normal course issuer bid to influence the price of the shares in the open market.

1. A purchase cannot be made at a price that is higher than the last independent trade of a board lot, and
2. A purchase cannot be made at the opening of trading, or within the last 30 minutes before the close of trading.

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 Pay has entered into significant licensing agreements to license its technology totaling approximately $9,000,000 in the past year.

It has also recently purchased an end to end blockchain solution for a rewards based cryptocurrency as well as printer intercept technology to combine big data analysis with artificial intelligence to deliver targeted offers to consumers.

Glance Technologies Co-Founders, Penny Green and Desmond Griffin, have just returned from the inaugural Crypto HQ Conference to be held in Davos, Switzerland from January 23rd to 26th during the World Economic Forum.

They spoke on a number of panels including Women and Inclusion in Blockchain, Future of Investment and Capital Raising, and Future of Purchasing and Consumption.

Shareholders are looking forward to hearing news about this conference.

The shares are trading at $1.54.

For more information please visit the company’s website www.glance.tech or contact Christina Rao, Vice President, Investor Relations, at 604-723-7480 or email investors@glancepay.com

I’m Samantha Deutscher for InvestmentPitch media