Glance Technologies Provides Update on Cannapay Financial

August 30 18:14 2017 Print This Article

VANCOUVER, British Columbia, Aug. 31, 2017 (GLOBE NEWSWIRE) — Glance Technologies Inc. (CSE:GET.CN) (OTCQB:GLNNF) (CSE:GET.WT) (FKT:GJT) announces a strategy to develop and acquire cannabis brands through its partially-owned subsidiary, Cannapay Financial, for international distribution through its mobile payment apps.

“Part of our strategy has been to look for successful cannabis business participants to license our technology in other countries,” says Glance President Penny Green. “We believe that there is also an opportunity to use our apps to promote awareness of emerging brands containing CBD or THC in jurisdictions where cannabis is or is becoming medically or recreationally legal.”

Cannapay is currently negotiating potential license agreements for the rights to operate its mobile payments apps in the US and in Australia and it is looking for partners in Jamaica and Germany. 

Both the cannabis and the mobile payments industries are growing at a fast rate.  Cannapay is currently building 2 mobile payment apps based on the Glance Pay technology. Currently, the Glance Pay app features a restaurant discovery section where app users can look at photos, information, and search using key words and a map.  The Cannapay app will use this discovery feature to provide photos and information on cannabis related products and services.  Cannapay plans to use the innovative marketing features within the app to market cannabis and cannabis related products to create brand awareness in international distribution channels and to allow for sale and delivery of those products in jurisdictions where it has become or becomes legal to do so. 

Cannapay is currently negotiating to acquire international rights to a line of health and wellness products that can be marketed and sold through the app in jurisdictions where it will be legal to do so.

On May 30, 2017, Glance announced it was licensing its mobile payment technology to Cannapay for use in the cannabis industry for an initial license fee of $1,000,000, payable in stock.  As of August 31, 2017 Glance owns 8,000,000 shares out of 18,463,320 Cannapay shares outstanding, giving it approximately 43% ownership of the outstanding shares. 

About Cannapay Financial Inc.

Cannapay is a partially owned subsidiary of Glance Technologies.  Cannapay combines traditional financial services with innovative technology to provide enhanced digital financial services to legally operating businesses in the cannabis industry.  Cannapay currently has two apps in development leveraging the Glance Pay mobile payment system. One is Cannapay which is a mobile to mobile payment system for the cannabis industry.  The other is SuperDope delivery, for mobile ordering and delivery of cannabis.  Both apps are available for international licensing.

About Glance Technologies Inc.

Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, order food & drink, settle bills, access digital receipts, earn great rewards, & interact with merchants. Glance is building a valuable network of merchants and consumers, and offers targeted in-app marketing, social media marketing, 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, a merchant manager apps, large scale technology hosting environment with sophisticated anti-fraud technology and lightning fast payment processing.

For more information about Glance, please go to Glance Technologies’ website

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: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “potentially” 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.

CONTACT: For more information, contact:
Christina Rao
Vice President, Investor Relations
(604) 723-7480
[email protected]
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Jonathan Yaniv
Jonathan Yaniv

Jonathan is the founder and editor-in-chief of TrustedNerd.com. Covering major tech shows such as CES, Jonathan is always there for the latest tech news. Want your gadget to be reviewed or have a release you’d like to be considered for publishing? Send Jonathan an email, jonathan [at] trustednerd.com

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