Glance Technologies Co-Founder Penny Green Thanks Shareholders for Strong Support; Urges Board to Build Value by Upgrading Directors
VANCOUVER, British Columbia--(BUSINESS WIRE)--Jun 8, 2018--Ms. Penny Green, Co-founder, Director, and largest shareholder of Glance Technologies Inc. (“Glance” or the “Company”) (CSE:GET.CN) (CSE:GET.WT) (OTCQB:GLNNF) (FKT:GJT), thanks shareholders for their overwhelming support for her campaign to bring change to Company.
Based on early analysis, Ms. Green and her slate of director of nominees (“Nominees”) have garnered the support of approximately 24% of issued and outstanding shares, excluding shares owned by Desmond Griffin and the entrenched Board. This represents a significant portion of shareholders who approve of Ms. Green’s vision for Glance and desire a change at the Board level.
“I would like to thank all Glance shareholders who spent the last several weeks engaging with us, evaluating our campaign materials, and voting for our Nominees. It is clear change is not only desired but required at the Board level,” said Ms. Green. “I want to thank my fellow Nominees William Davis, Jonathan Fry, Monique Imbeault, and Spiros Margaris for their meaningful contributions to my plan to take Glance forward.”
While the final vote tally is not known, Ms. Green and the large number of shareholders who supported her believe that, whatever the outcome at the Annual General Meeting of shareholders (the “Meeting”) next Tuesday, that all or some her Nominees should be placed on a refreshed board.
“It’s unfortunate that this proxy contest was necessary in the first place and that it quickly deteriorated into personal attacks against me and my Nominees,” Ms. Green said. “But if we are all sincerely committed to unlocking value for all shareholders we have to move Glance forward. Specifically –as so many shareholders have expressed– we need to advance from a local mobile payments company to a global leader in the blockchain and cryptocurrency space. By putting their names forward each of my Nominees represent an opportunity for Glance’s Board to upgrade the skill set, experience, and international connections available to it. While the Board has made it clear they are not interested in having me as the largest shareholder on the Board, I would encourage them to heed the call of a significant number of shareholder owners and add one or more of Mr. Davis, Mr. Fry, Ms. Imbeault, or Mr. Margaris to the Board.”
Ms. Green believes that any one of her Nominees present an opportunity for the current Board to enhance itself:
William Davis: A technology executive based in New York with over 15 years of leadership experience working with companies involved in blockchain, cryptocurrency, mobile payments, and big data.
Jonathan Fry: A blockchain and crypto economics expert based in London, United Kingdom.
Monique Imbeault: An executive with extensive restaurant industry experience, including as former Chair and director of Imvescor Restaurant Group Inc., one of Canada’s largest restaurant chains – a key vertical for Glance.
Spiros Margaris: A Switzerland based world-renowned thought-leader and influencer for big data, artificial intelligence, fintech and blockchain.
Ms. Green is hopeful that, after witnessing shareholders’ clear desire for change at Glance, the current Board and management will realize that the status-quo is not acceptable.
“As Glance’s largest shareholder and Co-founder, I look forward to a continued dialogue with all shareholders and will continue to work to unlock value at the Company. With the right leadership and strategy, I believe that the best days of Glance are ahead of us,” Ms. Green concluded.
The Company’s Meeting of shareholders will be held at Waterfront Centre, 200 Burrard Street, Suite 1200, Vancouver, British Columbia V7X 1T2, on Tuesday, June 12, 2018 at 2:00 p.m. (Pacific time).
While the voting deadline has passed, shareholders are encouraged to vote GREEN in the event the deadline is waived and can revoke their Blue proxy any time before the morning of the Meeting. If you are a registered shareholder you can revote your shares in person at the meeting.
If you have questions or need help voting, contact Kingsdale Advisors at 1-866-581-1513 or at firstname.lastname@example.org.
For more information about Ms. Green, her Nominees, and their plan please visit GlanceForward.com.
Kingsdale Advisors is acting as strategic shareholder and communications advisor and Koffman Kalef LLP is acting as legal advisor to Ms. Green.
Certain statements contained in this news release constitute “forward-looking information” as such term is defined in applicable Canadian securities legislation. The intentions of Penny Green (“Concerned Shareholder”), the impact of the Concerned Shareholder’s Nominees, if elected, on the financial condition, operations, business and strategies of the Company, future management and other matters related to the Company, are all forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Concerned Shareholder’s current views and intentions with respect to future events and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions that were applied in providing forward-looking information, include, but are not limited to, the actual financial health of the Company, the support expressed by shareholders to the Concerned Shareholder and the current general regulatory environment and economic conditions, are all forward-looking information. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events anticipated. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Concerned Shareholder does not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this news release is made as of the date of this news release and the Concerned Shareholder undertakes no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180608005820/en/
CONTACT: Kingsdale Advisors
Ian Robertson, 416-867-2333
Executive Vice President Communication Strategy
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Shareholder of Glance Technologies
Copyright Business Wire 2018.
PUB: 06/08/2018 06:59 PM/DISC: 06/08/2018 06:59 PM