Toronto, Ontario--(Newsfile Corp. - March 5, 2019) - First Global Data Limited (TSXV: FGD) (OTC Pink: FGBDF) (FSE: 1G5) (the "Company" or "First Global") announces that it has received a Statement of Claim filed by a group of investors in the Company holding Series "G" Secured Debentures (those debentures, the "Debentures"; those debentureholders, the "Series "G" Debentureholders") with the Ontario Superior Court of Justice (the "Court"), against the Company.
The claim relates to the Debentures that were issued back in 2015 bearing 14% interest per annum. The Series "G" Debentureholders are seeking an order from the Court for damages in the sum of $1,589,996.72 for the return of principal and missed interest payments.
The Company is currently canvassing various options in light of this claim.
About First Global Data Ltd. (www.firstglobaldata.com)
First Global is an international financial services technology ("FINTECH") company. The Company's two main lines of business are mobile payments and cross border payments. First Global's proprietary leading-edge technology enables the convergence of compliant domestic and cross border payments, shopping, Peer to Peer ("P2P"), Business to Consumer ("B2C"), and Business to Business ("B2B") payments. First Global enables its strategic partners and clients around the world with our leading-edge financial services technology platform.
For further information please contact:
First Global Data Limited
Tel: 416 504-3813
Neither TSX Venture Exchange Inc. ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or a solicitation of an offer to buy nor shall there be any sale of the securities offered in any jurisdiction in which such offer, solicitation or sale would be unlawful.
Forward Looking Information:
This news release contains "forward-looking information" within the meaning of applicable securities laws. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. First Global undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of First Global, its securities, or financial or operating results (as applicable). First Global disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43253