Glance Technologies Provides Small Businesses With Access To Funding Through New Partnership With Merchant Advance Capital
VANCOUVER, British Columbia, Dec. 06, 2018 (GLOBE NEWSWIRE) — Glance Technologies Inc. (“Glance” or the “Company”) (CSE:GET.CN) (OTCQB:GLNNF) (FKT:GJT) today announced it has entered into a strategic alliance and referral agreement with Merchant Advance Capital Limited Partnership (“Merchant Advance Capital”). Merchant Advance Capital provides funding to small and medium-sized businesses by purchasing a specified percentage of future receivables.
David Gens, CEO of Merchant Advance Capital commented: “We are proud to be partnering with Glance, a company that shares our values of innovation and use of technology in providing financial services. Together, we can provide Canada’s most convenient financing solutions.”
Under the terms of the Strategic Alliance Agreement, Glance and Merchant Advance Capital will collaboratively market and promote each other’s businesses through their respective marketing and sales channels. Under the terms of the Referral Agreement, Glance will be paid a fee for each transaction that Merchant Advance Capital closes from a Glance generated lead.
A significant emerging sector of the economy is made up of freelancers and small businesses. Glance recently launched its Glance PayMe mobile POS solution providing freelancers and small businesses with a secure, low-fee processing solution without long delays in getting paid. Small businesses often have difficulty obtaining funding from traditional banks. Through this new partnership, small businesses operating on the Glance platforms may now be eligible to receive financing in as little as one to three business days.
Desmond Griffin, CEO of Glance commented: “We see Merchant Advance Capital as the perfect partner for our new Glance PayMe application. We are impressed by their innovative approach to financing small business, the application of technology to their approval and risk management processes and ability to quickly approve an application. We think their product is an excellent solution that can help our Glance merchants overcome seasonality challenges and expand and grow their businesses.”
About Merchant Advance Capital Limited Partnership
Merchant Advance Capital is a national financial services company working with small and medium-sized businesses throughout Canada.
About Glance Technologies Inc.
Glance Technologies is the owner of Glance Pay and Glance PayMe, a pair of complementary smartphone payment applications that enable merchants to provide their customers with quick secure payments, digital rewards, and a better customer experience.
For more information about Glance, please go to www.glance.tech.
For more information, contact:
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 discussion of Glance’s business strategies and its expectations concerning future operations, and the expectation that Merchant Advance Capital will help Glance’s merchants overcome seasonality challenges and expand and grow their businesses. 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 customer demand for the Glance PayMe application and risks related to products offered by Merchant Advance Capital. The forward-looking information in this press release is also based on certain estimates, forecasts and projections, as well as expectations, beliefs and assumptions, including, among other things, that Glance will be able to achieve its business objectives, that Glance will be able to develop proprietary software to implement its plans. 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. 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.