Glance Warns That Shareholder Value Was Entirely Wiped Out in a Technology Company Chaired by Dissident Monique Imbeault
Summary
In this news release Glance is providing details of the XL-ID bankruptcy that were omitted from a proxy circular filed on May 11, 2018 by dissident leader Penny Green (the “Dissident Circular”).The risk is clear, given the dissident nominees’ history of corporate insolvencies combined with Ms. Green’s established cursory due diligence, excessive spending, disclosure irregularities and proclivity for expensive stock promotion.Certain key facts about Glance’s financing announcement last November support a conclusion that Glance’s Chief Executive Officer Desmond Griffin and director Larry Timlick acted appropriately with regard to their trading.Fact : Mr. Griffin, Ms. Green and other members of management and the Board negotiated the terms of the Bought Deal throughout the night of November 27, 2017 and into the early hours of the next morning.For additional information with respect to these and other factors and assumptions underlying the forward looking statements in this press release, see the section entitled “Risk Factors” in the most recent Prospectus of Glance, which may be accessed through Glance’s profile on SEDAR at www.sedar.com.