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Glance Technologies (CSE: GET) has moved into the Online Food Delivery Market

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Glance Technologies, through a partnership with Daily Delivery, has moved into the online food delivery market. Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, settle bills, access payment records and interact with merchants.

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Company: Glance Technologies
Website: http://www.glance.tech
Stock Symbol: CSE: GET
Date Published: Apr 6, 2017
Transcript: Available

Video Transcript:

I’m Bethany Rae for InvestmentPitch media

Glance Technologies, through a partnership with Daily Delivery, has moved into the online food delivery market.
Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, settle bills, access payment records and interact with merchants.

The customer takes a picture of the bill, confirms the amount, with the option to add a tip or split the bill, and pays with the click of a button.

Glance is building a valuable network of merchants and consumers, and offers targeted in-app marketing, customer feedback, in-merchant messaging and custom rewards programs.

By entering into a strategic agreement with Daily Delivery, an innovative, white-label food delivery service which offers on-demand delivery in under an hour, Glance is providing users a convenient way to pay for delivery from participating Glance restaurants directly within the app.

Glance now offers its users more ways to enjoy a meal at their favourite restaurants, whether they choose delivery, dine out, or a quick bite, while still taking advantage of same convenience, security, incentives and automatic rewards on the Glance Pay app.

Currently disrupting traditional forms of delivery due to the rise of popular mobile ordering, the US food delivery market alone accounted for over US$210 billion of restaurant revenue in the last year, of which $11 billion was exclusively through online ordering.

This combined with the Canadian online food delivery market estimated at CAD$7 billion dollar, provides Glance with the potential to establish new verticals of revenue and increase customer retention with a singular payment platform.

Penny Green, President & COO, stated: "We have a large and rapidly growing base of restaurants and consumers combined with what we believe to be the best mobile payment and rewards technology in the market. Adding delivery is a natural extension of our product and provides more value to our customers. Daily Delivery manages drivers and handles driver logistics for some of the largest online food delivery systems in the world, so they are a perfect compliment to our technology. This is an exciting time in the delivery space with significant acquisitions such as Skip The Dishes ($110 Million CAD) occurring recently. Our rewards, anti-fraud technology, complimentary in restaurant payment technology, growing consumer base, and relationships give us a competitive advantage in this space."

The company recently announced a rights offering, to shareholders of record on March 29th.

The rights, which expire on April 21st, trade under the symbol CSE:GET.RT.

If all the rights are exercised, the company will raise gross proceeds of approximately $2.2 million through the issuance of 10.8 million units at $0.20 per unit.

The shares last traded at $0.20, and with 64.8 million shares outstanding, the company is capitalized at $13 million.

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 christina@glancepay.com.
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I’m Bethany Rae for InvestmentPitch media