GLANCE TECHNOLOGIE COM NPV (OTCMKTS:GLNNF)
GLANCE TECHNOLOGIE COM NPV (OTCMKTS:GLNNF) is retreating after an impressive run last month. The stock was down by 7.9% in Thursday’s trading session to close at $0.2528 a share. The stock’s impressive run over the past few weeks has come after a string of positive news, with the recent one being the company’s expansion into the cannabis business.
Shares of GLANCE TECHNOLOGIE COM NPV (OTCMKTS:GLNNF) are currently trading in an upward trend in a $0.20 to $0.35 trading range. A pull-back from the $0.27 mark could be a minor correction ahead of a potential run to 52-week highs.
GLANCE TECHNOLOGIE COM NPV (OTCMKTS:GLNNF) is a streamlined payment system company that is trying to revolutionize how smartphone users chose where to dine, settle bills or even access digital receipts. The company is also building a network of merchants and consumers in addition to offering targeted in-app marketing. Its expansion into the cannabis business is one of the plays that appears to have triggered renewed investor interest in the stock.
The company has announced plans to acquire cannabis brands through its partially owned subsidiary, Cannapay Financial. It is also in the process of developing a Cannapay app that will be used to provide information and photos of cannabis related products.
“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,” said Glance President Penny Green.
GLANCE TECHNOLOGIE COM NPV (OTCMKTS:GLNNF), through its subsidiary, plans to use innovative marketing features in the app to market cannabis related products in international distribution channels. The company is currently negotiating international rights for a line of health wellness products that are to be sold through the app.
$1 Million Licensing Deal
In addition to pursuing growth in the legal cannabis business, GLANCE TECHNOLOGIE COM NPV (OTCMKTS:GLNNF) has entered into a $1 million licensing deal with Active Pay Distribution Inc. The agreement paves way for the company to make its first entry into the fitness and wellness market.
Under the terms of the deal, the company is to create and provide a technology that Active Pay can use to serve the fitness and wellness community. In addition to the licensing fee, GLANCE TECHNOLOGIE COM NPV (OTCMKTS:GLNNF) is entitled to a processing fee for transactions and percentage of revenues generated by the app.
I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.
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About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.