Glance Technologies Inc. (CNSX:GET-CN.CN) (OTCQB:GLNNF) (FKT:GJT) (“Glance” or the “Company”) Chief Executive Officer Desmond Griffin today announced that both of the leading independent proxy advisors have recommended that shareholders vote only the BLUE proxy FOR the Glance nominees (the “Glance Nominees”) in a contested election for the Board of Directors.
Glass Lewis & Co., LLC (“Glass Lewis”) and Institutional Shareholder Services Inc. (“ISS”) are recognized as the leading independent proxy voting and corporate governance advisory firms in both Canada and the United States. Their analyses and recommendations are relied upon by hundreds of major institutional investment firms, mutual funds and fiduciaries throughout North America.
The independent recommendations, based on a careful review of the facts and arguments made by Glance and by the dissident shareholder Penny Green, are intended to assist shareholders in making choices regarding proxy voting decisions.
The Glass Lewis report consists of 18 pages of detailed analysis. In recommending that its clients vote the BLUE proxy FOR the Glance Nominees, Glass Lewis made the following comments:
— “We believe that Ms. Green’s attempts to take substantially all of the credit for the Company’s share price run-up prior to her ouster, and deflect blame for the Company’s share price decline following her departure, is highly disingenuous.”
— “We believe the Dissident’s acquisition strategy largely amounts to a highly speculative plan that is short on key details.”
— “We are highly skeptical of Ms. Green’s attempt to draw a decidedly favourable correlation between her presence with the Company and the Company’s share price.”
— “The Dissident’s case is insufficient to warrant rejection of any of the Management Nominees or the support of any of the Dissident Nominees.”
The ISS report consists of 21 pages of detailed analysis. In recommending that its clients vote the BLUE proxy FOR the Glance Nominees, ISS made the following points:
— “The Dissident has failed to provide a detailed business plan and has not identified a qualified and credible new management team to run the Company.”
— “The Dissident’s aggressive acquisition strategy may introduce further risks.”
— “The Dissident has failed to make a compelling case that a change in board control is warranted.”
— “The proposed Dissident slate does not appear to represent an improvement over the management slate, which includes four independent nominees.”
Vote the BLUE proxy
Please read Glance’s proxy contest materials filed on SEDAR (www.sedar.com) and on Glance’s website at https://glance.tech/agm18/ and then vote only the BLUE proxy well in advance of the proxy voting deadline on June 8, 2018 at 2:00 p.m. (Pacific time). Shareholders who may have voted the dissident proxy have every right to change their vote by now submitting the BLUE proxy, as it is the later dated proxy that will be counted at the meeting.
Shareholders with questions about voting their shares should contact DF King at 1-855-487-9247 (toll free) or by email at firstname.lastname@example.org. The meeting will be held at 1200 Waterfront Centre, 200 Burrard Street, Vancouver, British Columbia, on June 12, 2018, at 2:00 p.m. (Pacific Time).
About Glance Technologies Inc.
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 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. Glance has also recently purchased a blockchain solution and is working on a rewards-based cryptocurrency.
For more information about Glance, please go to www.glance.tech.
For more information, contact:
Investor Relations Paola Ashton
1-866-258-1249 VP Business Development
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.
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 development of a rewards-based cryptocurrency. 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 related to Glance’s ability to develop a rewards-based cryptocurrency. Forward-looking information and forward-looking statements are in addition based on various estimates, forecasts and projects as well as expectations, beliefs and assumptions, including, without limitation, that Glance will be able to develop a rewards-based cryptocurrency. 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 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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