VANCOUVER, British Columbia, Sept. 12, 2017 (GLOBE NEWSWIRE) -- Glance Technologies Inc. (CSE:GET.CN) (OTCQB:GLNNF) (CSE:GET.WT) (FKT:GJT) is pleased to announce that it has signed its first restaurant in the United States, Ta’cul Mexican Cocina, located in California, to use the Glance Pay mobile payment app. Glance also announces that it has set up its United States head office in Silicon Valley.
“Our US expansion is key to our strategy of signing large North American restaurant chains,” says Glance CEO Desmond Griffin. “Silicon Valley is an ideal location for us to access the world’s premier high tech ecosystem as we continue to develop our technology.”
“Mobile payment is a game changer. We see people of all ages use their mobile phones in restaurants to take pictures of food to share on social media. Customers will love the convenience of paying for their bill with their mobile phone and collecting loyalty points. San Diego is ready,” says German Feuchte, owner of Ta’cul Mexican Cocina.
The US restaurant market is estimated to generate over $780 billion in sales annually.1
Over 230 restaurant locations are signed to use the Glance Pay app in Canada, which is now live in 4 provinces across Canada.
In August 2017, Glance announced a warrant exercise program incentivizing warrant holders to exercise their warrants prior to September 29, 2017 for potential proceeds of up to $1,968,000 through the warrant exercise program, plus additional funds that may be raised by the exercise of other outstanding options and warrants that are not part of the acceleration program. The proceeds of these warrant exercises are being used to fund Glance Pay’s expansion, including its US expansion. Since the announcement, Glance has received over $1,450,000 in proceeds from the exercise of incentive options, warrants, and broker warrants and options.
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 goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards & interact with merchants. Glance is building a valuable network of merchants and consumers, and offers targeted in-app marketing, geotargeted digital coupons, 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, merchant manager apps, a large scale technology hosting environment with sophisticated anti-fraud technology and lightning fast payment processing. Glance Pay has entered into significant licensing agreements to access the cannabis and fitness and wellness industries through Active Pay Distribution Inc. and Cannapay Financial Inc.
For more information about Glance, please go to Glance Technologies’ website
For more information, contact:
Christina Rao
Vice President, Investor Relations
(604) 723-7480
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: "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.
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1 National Restaurant Association, "2016 Restaurant Industry Forecast"