Vancouver, British Columbia--(Newsfile Corp. - October 13, 2017) - Glance Technologies (CSE: GET) (FSE: GJT) (OTCQB: GLNNF) (CSE: GET.WT) through its subsidiary, Cannapay Financial, has acquired an Ayurvedic wellness product line. Ayurvedic medicine treats Cannabis as an ancient holistic plant.
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This is Cannapay's second acquisition of Ayurvedic products this quarter. Cannapay will develop new products and a supporting lifestyle app to distribute content that will enable customers to realize the beneficial properties of Cannabis and THC.
Cannapay intends to partner with licensed producers to create cannabis infused products to sell in Canada and distribute internationally where legal to do so. Products will include items such as: soap bars, massage oils, candles, bubble bath, bath bombs, body sprays, moisturizer, bath salts and more.
These will be created with essential oils and herbs, salts, hemp and other ingredients and will be used for skin rejuvenation, relaxation and overall rejuvenation, pain relief, stress reduction, skin repair, deep cleaning and more.
Penny Green, President of Glance Technologies, stated: "We are working to develop a meaningful, insights-driven brand and the supporting content with the underlying goal of educating cannabis consumers about how to most effectively utilize these products to achieve their health and wellness goals. Just as the practice of Ayurveda is based on the science of life, we are building a brand centered on the science of people. We are now engaging industry leaders in branding, product development, digital educational content production, regulatory experts and application user experience artists to create brands that will have tremendous impact on the international Cannabis community, and translating to significant revenues for Cannapay."
In addition to the products, Cannapay has acquired the formulas relating to the development and composition of the products, the results of all market and product research and all other intellectual property related to the products as well as the right to reformulate the products to include THC.
The lifestyle app will focus on wellness practice, guide users through exercises and meditations, as well as help them to understand what various wellness products do and which ones are right for them.
Cannapay has also appointed Bhavna Solecki as its Director of Products and Digital Content. Ms. Solecki, an Ayurvedic Holistic Practitioner and sole founder of Inner Evolution Healing Center, is a recognized speaker and workshop facilitator for health and wellness events. She has been involved in research and development for pain and stress management for acute and chronic illnesses for the past fifteen years working with plant medicine and ancient therapies.
Cannapay continues to invest significant resources into developing trusted brands that can be distributed internationally, marketed and sold through its mobile payment cannabis lifestyle app.
Glance Technologies owns and operates Glance Pay, a streamlined payment system that revolutionizes how smartphone users choose where to dine, order goods and services, make payments, access digital receipts, redeem digital deals, earn great rewards & interact with merchants. The Glance Pay mobile payment system consists of proprietary technology, which includes user apps available for free downloads in IOS (Apple) and Android formats, merchant manager apps, a large scale technology hosting environment with sophisticated anti-fraud technology and lightning fast payment processing.
The shares are trading at $0.70, and with 110.5 million shares outstanding, the company is capitalized at $77.4 million.
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