Glance Technologies Inc. Announces $10 Million Bought Deal Financing

VANCOUVER, BC--(Marketwired - Nov 28, 2017) - Glance Technologies Inc. (CSE: GET)(CSE: GET.CN)(CNSX: GET)(OTCQB: GLNNF)(FRANKFURT: GJT) (the "Company") has today entered into an agreement with Echelon Wealth Partners and PI Financial Corp., (collectively the "Underwriters") pursuant to which the Underwriters have agreed to purchase on a bought deal basis 3,350,000 units of the Company (the "Units") at a price of C$3.00 per Unit, representing total gross proceeds of $10,050,000 (the "Offering"). Each Unit consists of one common share ("Unit Share") and one unit purchase warrant ("Unit Warrant"). Each Unit Purchase Warrant is exercisable into one unit ("Subsequent Unit") at a price of $3.84 per Subsequent Unit, for a period of 12 months following the Closing Date of the Offering. Each Subsequent Unit consists of one common share ("Subsequent Unit Share") and one common share purchase warrant ("Share Warrant") exercisable at $5.00 per common share ("Common Share"), for a period of 24 months following the Closing Date of the Offering. Both the Unit Warrants and the Share Warrants will be transferable. Management and insiders will be participating for up to approximately $2 million of the Units on the same terms and conditions as the Offering.

The Company has agreed to grant the Underwriters an over-allotment option to purchase up to an additional 15% of the Units at the Issue Price at any time and from time to time on or prior to the date that is 30 days following the closing of the Offering. The Over-Allotment Option may be exercised in whole or in part to purchase Shares, Warrants or Units as determined by the Co-lead Underwriters upon written notice to the Company at any time up to 30 days following the Closing Date. If this option is exercised in full, an additional $1,507,500 in gross proceeds will be raised pursuant to the Offering, for aggregate gross proceeds of $11,557,500.

The Units will be offered by way of a short form prospectus to be filed in B.C., Alberta and Ontario, and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and such other jurisdictions as may be agreed upon by the Company and the Underwriters.

The Company intends to use the net proceeds from the Offering for general corporate purposes, to fund growth and to provide for possible future acquisitions. The Offering is expected to close on or about December 20^th, 2017 (or such other date as the Underwriter and the Company may agree) and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the Canadian Securities Exchange and the applicable securities regulatory authorities.