VANCOUVER, B.C., Feb. 23, 2018 (GLOBE NEWSWIRE) — Glance Technologies Inc. (CSE:GET:CN) (OTCQB:GLNNF) (FKT:GJT) today provided shareholders with the following letter from both Desmond Griffin, Chief Executive Officer, and Angela Griffin, Chief Technology Officer.
Dear Glance Technologies shareholders:
We, Desmond and Angela Griffin, are writing to you in our roles as Chief Executive Officer and Chief Technology Officer of Glance Technologies Inc. This letter is about our business that we cherish, and it is also about our family.
We are a husband-and-wife team. That gives us, and all shareholders, a valuable edge. Based on our long and successful track record in the technology industry, we strongly believe that shareholders derive significant value from the business opportunities and intellectual property that Glance Technologies is developing under our personal guidance.
Because we treasure Glance Technologies, both of us fully supported the company’s decision to terminate another member of our family, Penny Green, as President and Chief Operating Officer. We can no longer work with Penny, and Glance Technologies was not functioning properly with Penny in a management role.
Subsequent to her termination, Penny requisitioned a meeting to change the board of directors and give her control of Glance Technologies. Penny wants to remove all three of Glance Technologies’ independent directors and replace them with three nominees of her own choosing.
We think Penny will not be successful in taking control of the board, but the matter will ultimately be up to your vote. Let us be clear that we fully support Glance Technologies’ three independent directors. We will oppose the election of Penny’s nominees.
In her requisition news release on February 21, 2018, Penny was silent about her ongoing relationship with us. It is therefore up to us to spell it out. First of all, Penny of course remains family: a sister (to Angela) and a sister-in-law (to Desmond). That will never change.
However, in our view Glance Technologies will not prosper if Penny were to return in any management role. We also believe that the company and its shareholders will benefit if Penny ceases to be a member of the Glance Technologies board.
We want you, as shareholders, to have full knowledge about where we stand, and that we are absolutely firm in our stand. Should Penny’s nominees be elected by the shareholders, we would immediately tender our resignations.
Over the coming weeks and months, the reasons for our firm stand will become clear. Before you vote, you need to know. And then you will have to choose.
Chief Executive Officer
Glance Technologies Inc.
Chief Technology Officer
Glance Technologies Inc.
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 purchased a blockchain solution for a rewards-based cryptocurrency.
For more information about Glance, please go to www.glance.tech.
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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”, “think”, “will”, and similar expressions, or are those, which, by their nature, refer to future events. 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 Annual Information Form and 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.