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TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, April 10, 2017 /CNW/ - First Global Data ("First Global" or the "Company") is pleased to announce the establishment of PayQwik™ FINTECH Labs.
The intent of the lab is to create innovation and disruption in the FINTECH space. The lab will provide a sandbox environment to explore new FINTECH ideas in areas including but not limited to cybersecurity, network risk management, and electronic currencies with the objective of building a Darwinian ecosystem that thrives in a competitive environment.
PayQwik™ FINTECH Labs will also focus on patenting the innovative technology that the Company has developed and is developing. To this end, the Company has engaged an intellectual property consultant with an extensive track record in the patent space.
We are pleased to announce the appointment of Bobby Athwal as our Intellectual Property Management and Strategy Consultant and member of our Advisory Board.
Mr. Athwal is a business and technology attorney with experience in engineering and intellectual property law. Specializing in implementing IP Management and Strategy, Bobby has worked closely with both early stage and Fortune 500 Tech companies, advising on securing and enforcing patent rights both domestically and abroad. Bobby has experience in cloud computing, technology-based financial service industries. Mr. Athwal has developed close relations with some of the largest telco's in South East Asia and successfully brokered a number of joint venture's between Canadian and South East Asian companies, particularly in Malaysia and Singapore. Bobby will focus on protecting the Company's core technologies to drive profit, improve market position and create new long-term revenue streams for the Company.
Mr. Athwal comments, "First Global Data is pioneering the evolution of mobile payments and commerce. FGD's strong business model, built on a foundational patent portfolio will be a driver for valuation, with the quality of the underlying technology driving entirely new market opportunities."
"The establishment of PayQwik™ FINTECH Labs is a significant milestone for our Company. Our industry leading technology platform continues to evolve and we have developed unique features which we intend to patent. The time has come to turbocharge our evolution with relevant and sophisticated IP. Our goal is to create a portfolio of patents that add significant enterprise value as we march toward achieving our vision of establishing a global interoperable and portable mobile wallet. FINTECH is evolving at a rapid pace and we want to ensure that First Global is the vanguard. The addition of Bobby Athwal is an important step toward achieving our objectives for PayQwik™ FINTECH Labs" said Andre Itwaru, Chairman and CEO of First Global.
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
For further information: Andre Itwaru, Chairman and Chief Executive Officer, t: (416) 504-3813, e: [email protected]