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TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, May 8, 2017 /CNW/ - First Global Data ("First Global" or the "Company") is pleased to announce that it has partnered with The Money Cloud ("TMC") to add global foreign exchange ("FX") comparison and purchasing services.
TMC considers itself the "Trivago of FX", currently providing FX comparisons between companies. TMC will integrate to the Company's mobile wallet to provide foreign exchange services to 140 countries. TMC will also promote the Company's mobile wallet and payment services to TMC clients across Europe.
Foreign Exchange is by volume the largest market in the world. According to the Bank for International Settlements, deliverable foreign exchange is in the region of $177 trillion per annum (2015).
"We are delighted to announce this partnership with First Global Data, one of the most respected and innovative mobile and cross border payments company's out there. Using our extensive network, we are extremely confident we can help First Global Data to establish a significant footprint across Europe, and are equally pleased that FGD will be using our comparison engine, to help cement their status as a best-in-class provider of international payments services.", says Emmanuel Addy, Money Cloud CEO.
Andre Itwaru, Chairman and CEO of First Global comments, "Global FX capabilities is a key enabler to achieving our vision of becoming one of the world's first portable, interoperable mobile wallets. FX is an integral part of cross border remittances and payments. By integrating The Money Cloud services into our mobile wallet, consumers will have the ability to source and purchase FX at the best rates available".
The Company is also pleased to announce that it has retained the services of Renmark Financial Communications Inc. to handle its investor relations activities. In consideration of the services to be provided, the monthly fees incurred by First Global Data Limited will be a cash consideration of up to $8,000 CAD, starting May 1, 2017 for a period of six months ending on October 30, 2017 and monthly thereafter. Renmark Financial Communications does not have any interest, directly or indirectly, in First Global Data Limited or its securities, or any right or intent to acquire such an interest.
Mr. Itwaru added, "Renmark will assist the Company to interact more effectively with our investor and shareholder base. Renmark will also reinforce First Global's profile in the financial community and enhance the visibility of our company and the significant progress that we are making globally. We choose Renmark because its standards and methodologies fit best with the message we wish to communicate to the investing public"
About The Money Cloud: (www.themoneycloud.com)
We're an international money transfer comparison site that's focused on giving you clear, honest information, so you can choose the best way to send money overseas. Trust and value are at the heart of The Money Cloud. We want to give you the confidence to try more cost-effective ways of transferring money abroad, rather than just accepting expensive bank fees. Right now there's a real drive for change in the international money marketplace, and we're here to address that. For the past few decades hidden charges, complicated terms and conditions, and a serious lack of clear, educative resources has made it difficult for people to find the cheapest way to send money. We've designed The Money Cloud to show you how to do that, providing the facts you need to make an informed decision. We display the live, true exchange rates – not the ones banks only give to each other, which is often what's advertised. We deliver dynamic search results for a huge range of 144 currencies. We publish straightforward guides and update you on all the latest money transfer developments, making you the expert.
About Renmark: (renmarkfinancial.com)
Renmark Financial Communications is a full service investor relations firm representing small, medium and large cap public companies trading on all major North American exchanges.
About First Global: (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.
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