TORONTO, ONTARIO — (Marketwired) — 11/19/14 — First Global Data Limited (TSX VENTURE: FGD) (“First Global” or the “Corporation”) is pleased to announce that it has entered into an agreement (the “Agreement”) with Waterfront Capital Corporation (“Waterfront Capital”, trading symbol TSX-V: WFG, ) to provide capital markets and advisory services to First Global.
The Corporation will pay Waterfront Capital a monthly fee and in addition, the Corporation will also issue, as compensation, options to acquire 300,000 common shares at an exercise price of $0.25 with an expiry date 24 months from the date of this release. The options granted will vest in accordance with applicable regulations. The Agreement and the issuance of the stock options remain subject to the approval of the TSX Venture Exchange.
First Global is an international payments company whose services include mobile and online payments and money transfers (remittances). The Corporation holds licenses across the USA and in other parts of the world which are necessary to conduct money services. The Corporation–s network spans 97 countries, with continuous expansion expected and has integration with more than 200 banks around the world.
First Global–s objective is to be one of the top two online money remittance companies and the leading global provider of ubiquitous mobile money payment solutions.
“First Global Data is an enormously interesting and compelling company, and one that we–re looking forward to bringing to our extensive network of investment advisors, wealth managers and institutional account representatives” said Rick Peterson, President of Waterfront Capital.
“Through the power of our leading edge mobile and online payments technology, our business is one that touches millions of people who make payments and transfer funds to businesses and families all around the world,” said Andre Itwaru, First Global–s President and CEO.
“We believe that the timing is perfect to leverage Waterfront Capital–s extensive retail audience. Working with Waterfront Capital is a key step toward our overall objective of letting the world know about First Global, our incredible technology and services, and the strong growth opportunity that we see lies ahead for us,” said Mr. Itwaru.
About Waterfront Capital
Waterfront Capital offers a full range of financial and communications services to growth companies in leading industry sectors. Waterfront Capital often serves as a company–s strategic partner through the entire corporate “life-cycle”, providing independent expertise and business advisory services in connection with venture capital markets, investor relations, initial public offerings and secondary financings, mergers and acquisitions, public market administration, as well as media and marketing advice. Waterfront Capital–s professionals have extensive financing and operating experience and assist promising public and private companies that require infusions of capital, management and restructuring to realize the value and potential of their underlying business.
In connection with the advisory business services that are presently provided, Waterfront Capital is working towards expanding its business services to potentially include the distributions of exempt market securities, and in connection therewith, has made application to the British Columbia Securities Commission for registration as an “Exempt Market Dealer” in accordance with National Instrument 31-103 Registration Requirements and Exemptions (“NI 31-103”).
About First Global
First Global, through its various subsidiaries, is an international payments company whose services are designed primarily for the domestic and international underbanked markets. Services include Mobile and Online Payments and Money Transfers. The Corporation moves money domestically and internationally in full compliance with regulatory guidelines. First Global also enables its strategic partners and clients around the world with its leading edge financial services technology products. First Global maintains a strong focus on compliance and holds licenses to operate as a Money Service Business in the United States and around the world. The Corporation–s electronic transaction infrastructure currently extends to approximately 97 countries worldwide. First Global–s goal is to be one of the top two online money remittance companies and the leading global provider of ubiquitous mobile money payment solutions.
For further information, please contact:
Andre Itwaru, Chief Executive Officer and President.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements based on assumptions, uncertainties and management–s best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation–s periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts:
First Global Data Limited
Andre Itwaru
Chief Executive Officer and President
416.504.3813
416.504.7092 (FAX)
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