Glance Technologies Co-founder Penny Green Requisitions Shareholders’ Meeting: New Board to Expand Glance Internationally
21 Février 2018 - 1:30PM
Business Wire
- New board will revitalize Glance
Technologies, opening it up to new revenue-generating
opportunities, alliances, and international expansion
- Nominees bring superior experience in
fintech industry, capital markets, and will increase long-term
value for all shareholders by building Glance into a global leader
in the blockchain and payments industry
- Current directors Kirk Herrington,
James Topham, and Larry Timlick, lack relevant expertise, are not
aligned with shareholders, refuse to communicate, and are
roadblocks to business growth
Penny Green, Co-founder, Director, and largest shareholder of
Glance Technologies Inc. (“Glance”) (CSE:GET.CN) (CSE:GET.WT)
(OTCQB:GLNNF) (FKT:GJT) announces she has requisitioned Glance’s
Board of Directors (the “Board”) to call a special meeting of
shareholders for the purpose of reconstituting the Board and
expanding Glance internationally.
Ms. Green beneficially owns directly or indirectly approximately
12.27% of the issued and outstanding shares of Glance. She is
requesting shareholders remove each of Kirk Herrington, James
Topham, and Larry Timlick (the “Obstructing Directors”) from the
Board, and add three highly qualified independent and experienced
nominees (the "Nominees") to the Board.
Unlike the Obstructing Directors who are isolated in Vancouver
and lack the expertise required to grow Glance into a global
blockchain and payments company, the Nominees bring international
reach with a presence in New York, Miami, and Switzerland and have
extensive experience in blockchain, fintech and mobile
payments.
“I am thrilled to be proposing these nominees and I’m confident
that with this new leadership Glance will continue to develop into
a world leader in the blockchain and mobile payments industry,”
said Ms. Green. “I recently invested $540,000 to purchase $3 units
because I strongly believe in what Glance is capable of with the
right leadership.”
Current Board is Obstructing Value Creation and Ignoring
Shareholder Concerns
Ms. Green has tried to work constructively with her fellow
directors to explore and present numerous opportunities to create
value. When it became clear to the Obstructing Directors that
shareholders desired change at the company and Ms. Green had
significant shareholder support, the Obstructing Directors
attempted to create a roadblock to change and entrench themselves
by firing Ms. Green. Ms. Green had delivered the requisition prior
to her dismissal.
Ms. Green’s requisition is motivated by longstanding concerns
and the fact that over a period of months it has become clear the
Obstructing Directors do not have the right experience needed to
understand, evaluate, and capitalize on these opportunities.
Unfortunately, rather than being responsive to the concerns of
shareholders and considering the advice of a proven fintech expert,
the Obstructing Directors have chosen to marginalize Ms. Green, an
accomplished female entrepreneur. The Obstructing Directors’
decision to continue to act as a roadblock to potential deals and
exclude Ms. Green from Board meetings left Ms. Green with no choice
but to requisition a meeting of shareholders.
On behalf of all shareholders, Ms. Green urges the Obstructing
Directors to call the requisitioned meeting on an expedited basis
and not to engage in any actions to further entrench
themselves.
“It’s an exciting time in our industry and a new Board —with a
track record of success in the fintech industry— represents a real
opportunity to grow our business, seek out new agreements and
alliances, and take Glance international,” said Ms. Green. “I’m
sorry to say the Board has lost sight of who they report to and
whose interests they represent. Removing me in an effort to silence
shareholder concerns is proof of that. It was virtually impossible
for me to get accretive growth transactions approved by the Board.
I hope this antiquated Board will turn over management to the newly
proposed Board in a timely manner in accordance with shareholder
and broker sentiment. The only business I have been able to
complete in a reasonable timeframe is through Glance subsidiary
CannaPay since it does not require approval by the Obstructing
Directors. Their lack of experience in payments and blockchain and
their regional approach to business is holding Glance back.”
Penny Green: Proven Experience to Expand Glance
Internationally
Ms. Green, together with the Nominees, have the commitment,
credibility, and experience needed to expand Glance
internationally. Ms. Green was instrumental in raising $25 million
in capital for Glance as well as generating the majority of the
company’s revenue to date.
Ms. Green has extensive experience in capital markets in both
Canada and the United States. Notably, she has been involved in the
going public transactions of over 100 companies including Merus
Labs International Inc. — a company she co-founded — which had
revenues of $111 million in 2016 and was recently acquired by
Norgine B.V. for approximately $342 million.
For her business success, Ms. Green has been the recipient of
numerous awards and accolades including being named to Profit
Magazine’s W100 list of top Canadian female entrepreneurs and as
one of five finalists for the Royal Bank of Canada Award for
Excellence in Entrepreneurship. Under her leadership as CEO, her
firm Bacchus Law Corporation was included in the PROFIT 500 Fastest
Growing companies two years in a row. Ms. Green is also highly
sought after by media outlets, such as BNN and The Globe and Mail,
for her commentary as a technology business thought leader.
Independent and Experienced Board Nominees: Combined
Achievements and Global Reach to Benefit Glance
Shareholders
Each of the Nominees have held senior leadership positions at
leading tech companies and have the experience and ability needed
to increase shareholder value. Glance will be able to leverage the
Nominee’s extensive international network and achievements to
continue to build Glance into a global blockchain and payments
company.
William Davis III
- Managing Director of Technology at LDJ
Capital
- Former Chief Information Officer and
Chief Cybersecurity Officer at Europe’s largest mobile payment firm
Daopay
- Former president of Gate Impact, a
broker dealer in the fintech business of secondary trading of clean
energy companies on a proprietary ATS/exchange
- Former Director of Business
Intelligence at American Express where he created a strategic plan
to build Amex to $3 billion in earnings
John LoGiudice
- 20-years’ experience in the financial
and telecom industries with Ericsson and Sprint-Nextel
- Senior roles in helping numerous
start-up companies reach success including: Leafy Organics
Corporation (2016 to 2017), First Capital Global Holdings
Corporation (2014 to 2017), Zmedia Entertainment Group LLC (2015 to
2016), Nextgen Weight Loss LLC (2014 to 2015), United Software
Developers Inc. (2013 to 2014), United Beverage Distributors Inc.
(2013 to 2014), First Capital Finance Group (2013-2014), Project
Management Innovators Corporation (2002 to 2013), Pasazz
(2010-2012), First Capital Financial Group, Inc. (2008 to 2012),
Clinical Pharmacology Associates, LLC (2010 to 2011), Chase
Financial Investment Corporation (2006 to 2008), and Gecom Inc.
(2002 to 2006)
Spiros Margaris
- 20 years’ experience in innovation,
technology management, and investment management and research for
family offices, high net worth individuals, and institutional
clients
- Recognized as one of the top global
fintech, insurtech, banking, AI, and blockchain influencers in the
world
- Extensive financial experience in
investment management and financial statement analysis as Founder
of Margaris Advisory, a venture capitalist and advisory firm, and
Partner and Member of the Investment Committee of the hedge fund
advisory firm Crossbow Partners AG
- Senior advisor to Glance,
Arbidex.uk.com, Datametrex AI Limited, Kapilendo.com,
Moneymeets.com, and at F10 FinTech Incubator and Accelerator
ADVISORSKingsdale Advisors is acting as strategic
shareholder and communications advisor and Koffman Kalef LLP is
acting as legal advisor to Ms. Green.
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version on businesswire.com: http://www.businesswire.com/news/home/20180221005593/en/
Kingsdale AdvisorsIan Robertson, 416-867-2333Cell:
647-621-2646Executive Vice President Communication
Strategyirobertson@kingsdaleadvisors.com
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