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News Glance Technologies Provides Update on Cannapay Financial

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.



http://www.globenewswire.com/news-release/2017/08/31/1106324/0/en/Glance-Technologies-Provides-Update-on-Cannapay-Financial.html