12:31 PM EST - Glance Technologies Inc. : Has entered into an agreement with Echelon Wealth Partners and PI Financial Corp., pursuant to which the Underwriters have agreed to purchase 3,350,000 units of the Company at a price of C$3.00 per Unit, representing total gross proceeds of $10,050,000. Each Unit consists of one common share and one unit purchase warrant. Each Unit Purchase Warrant is exercisable into one 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 and one common share purchase warrant exercisable at $5.00 per 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. Glance Technologies Inc.
shares GET:CNX are trading down 50 cents at $3.34.
