SelectCore Grants Options; Announces Strategic Board and Management Changes

Marketwired

TORONTO, ONTARIO--(Marketwired - Apr 22, 2013) - SelectCore Ltd. ("SelectCore" or the "Company") (TSX VENTURE:SCG), a leader in prepaid payment solutions, today announced the following director and management changes and option grant.

Mr. Kevin Taylor has been appointed to General Manager, SelectCore LAC (Latin America and Caribbean) and will no longer serve as interim CEO and Director of the Corporation. Mr. Joe Mclean has been appointed to Senior Advisor and will no longer serve as a Director of the Corporation. Mr. Keith McKenzie will continue to serve as President and Director of SelectCore with a continued focus on growth in the Canadian marketplace.

The Board of Directors determined that a re-allocation of responsibilities and geographic focus was required to adequately support SelectCore's expansion, anticipated growth and new contracts in the LAC region.

"These changes are expected to accelerate SelectCore's growth strategy and build greater shareholder value," commented Martin Bernholtz, Chairman of SelectCore.

The Company plans to announce key developments in the LAC region in the near term.

An aggregate of 11,750,000 options to purchase common shares of the Company have been granted to certain directors, officers, employees and consultants. The options are exercisable at $0.15 per share and expire on April 18, 2016.

About SelectCore

SelectCore Ltd. (TSX VENTURE:SCG) is a pioneer and leader in prepaid payment solutions for underserved markets. Founded in 1999, the Company offers a range of prepaid products and services from stored-value cards to mobile top-up that provide financial empowerment to a market of millions of under-banked consumers. SelectCore has been ranked among Canada's fastest growing companies by Profit Magazine four times in the past six years and was included in the 2011 Deloitte Technology Fast 500 list of North America's fastest-growing technology companies.

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks related to the regulatory approval process, market and financing conditions as well as risks associated with the prepaid telecom and prepaid financial industries, changes in project parameters as plans continue to be refined as well as those risk factors discussed in the Company's management's discussion and analysis for most recent financial reporting period, available on www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.

Contact:
SelectCore Ltd.
Investor Relations
(800) 584-8819 ext. 105
investor@selectcore.com
www.selectcore.com

View Comments (0)