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TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, Nov. 27, 2017 /CNW/ - First Global Data ("First Global" or the "Company") would like to announce the following corporate changes.
The Company would like to announce that its previous CFO, Nayeem Alli has agreed to take on the appointment as CFO for an interim period until the end of April 2018. The Company's CFO position was made available in October 2017 when Mr. Alli decided to step down for personal health reasons. Mr. Alli will continue to be supported by the existing finance team and the Company will be actively sourcing a full time qualified candidate.
The Company would like to announce that Nayeem Alli has resigned as a Director and that it has appointed Mr. Peter Lacey to its Board of Directors. Mr. Lacey is the founder and Chairman of Cervus Equipment Corporation (TSX:CERV) a Canadian public company headquartered in Calgary, Alberta. Annual sales exceeded $1.1 billion for Cervus in 2016. Mr. Lacey received his ICD.D designation from the Rotman School of Business and the Institute of Corporate Directors and serves as Chair of the Audit Committee for another public company. Mr. Lacey also serves as Director of multiple TSX listed companies and other private companies.
"The CFO position at First Global is an important role. We are happy that Nayeem has agreed to take on the role on a temporary interim basis. This will allow us the time necessary to source a qualified candidate who is able to meet the obligations of the job on a full-time basis as we move to the next stage of our evolution. We are very pleased that Mr. Lacey has accepted our offer to join our Board of Directors. Peter has tremendous experience and will add a level of discipline, professionalism and expertise that the company needs in our Audit and Corporate Governance committees, and to the company overall. I have had the pleasure of getting to know Peter over the past few months and am very confident that he will contribute in a significant way as we embark on the next phase of our evolution", said Andre Itwaru, Chairman and CEO of the Company.
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: [email protected]