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TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, Feb. 14, 2017 /CNW/ - First Global Data ("First Global" or the "Company") advises that it has signed a Memorandum of Understanding (MOU) for an opportunity to access a large user base that consists of approximately 100,000,000 loyalty card users and approximately 500,000 retail locations across China. In addition, the Company will have access to approximately 100,000,000 high school students through a Chinese association.
The nature of these dealings is highly confidential and accordingly the Company is not able to disclose the specific names of the companies involved at this time, though will do so as these initiatives are deployed. The Company is sensitive to not compromising the dealings at this stage.
Andre Itwaru, First Global's Chairman and CEO adds, "The China trip was extremely successful and it was gratifying to see that there is a high demand for our technology, services and capabilities. This is the first of a number of opportunities we are able to share at this time. The FINTECH market in China has no equal on the global stage and we are capitalizing on the large user base of the largest Chinese enterprises as it relates to the use of our FINTECH technology."
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]