/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./
TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, Feb. 23, 2017 /CNW/ - First Global Data ("First Global" or the "Company") is pleased to announce that it has launched the iPhone version of its Vpayqwik™ mobile payment app in India.
According to a CNBC report on October 26, 2016, Tim Cook, CEO of Apple advised that iPhone sales in India grew by more than 50 percent in the company's fiscal year and that they are just scratching the surface of the Indian market. The report noted that half of Indians are under age 25, and iPhones are generally more appealing to the younger demographic.
"This is an important and very timely milestone for the Company. On February 21, we announced that Vpayqwik™ is able to process payments at all merchants across India as part of the Bharat QR payment initiative. Now Vpayqwik™ is also available to all iPhone users. Having both IOS and Android enables and ensures full smartphone access to the Vpayqwik™ app. We are enjoying significant traction with Android and expect the same with IOS" said Andre Itwaru, First Global's Chairman and CEO.
The Company is also pleased to announce that its board of directors (the "Board") has approved and adopted a new "fixed" stock option plan (the "Plan"), for the benefit of directors, officers, employees and service providers. The purpose of the Plan is to advance the interests of the Corporation by providing optionees with an additional performance incentive, and to allow the Company to attract and retain competent personnel. The number of reserved shares for issuance under the Plan is 17,813,143. The Plan has also been approved by the TSX Venture Exchange.
About First Global
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.
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. Although First Global believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because First Global can give no assurance that they will prove to be correct. 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.
SOURCE First Global Data Limited
For further information: Andre Itwaru, Chief Executive Officer, t: (416) 504-3813, e: firstname.lastname@example.org