Glance Announces Partially Owned Subsidiary Cannapay Signs $4 Million Revenue Deal

Glance Technologies (CSE:GET; OTCQB:GLNNF) has announced that its partially owned subsidiary Cannapay Financial has signed a definitive agreement to receive $4 million for licensing and product pre sales with Cannabis Big Data Holdings.
As quoted in the press release:

Pursuant to the agreement, Glance Technologies will receive a $1 million fee for the sublicense of Glance’s mobile payment app technology.
The agreement is entered into between Fobisuite Technologies Inc. (“Fobisuite”), Cannapay, Cannabis Big Data and Cannapay wholly owned subsidiary Juve Wellness Inc. (“Juve”). Fobisuite has architected a multi-faceted parallel, usb serial interface that is a bilateral communicative hardware device for the purpose of enabling the authentication and transaction of cryptocurrency in a retail point of sale environment. Further, it has data collection, analysis, analytics and encryption technology built on blockchain technology. Cannabis Big Data will combine the technology licensed from Cannapay and big data analytics hardware and software from Fobisuite to provide insights for cannabis retailers and producers and allow retail partners to transact in cryptocurrencies like bitcoin. Further, through its license with Juve it will offer a white label solution for 12 wellness products with customized branding for dispensaries in North America.

“Cannabis Big Data will offer big data analytics for the cannabis industry. Our value prop is in merging customer purchase and basket history with social media and mobile data to create highly personalized customer journeys. The Fobisuite technology can analyze and process online, in-store and mobile commerce to provide valuable insights to retailers, dispensaries, and manufacturers, and allows retailers to transact in cryptocurrencies,” says Rob Anson, CEO of Cannabis Big Data, “By partnering with Cannapay we will be able to offer a full circle digital media and mobile strategy for our industry partners. We’ve found an effective way of combining blockchain with big data and cannabis.

Click here to read the full press release.