SelectCore Ltd.

SelectCore Ltd.

February 17, 2010 09:29 ET

SelectCore Announces Expansion Plans for US Market and Appointment of US Financial Executive to its Board of Directors

TORONTO, ONTARIO--(Marketwire - Feb. 17, 2010) - SelectCore Ltd. (TSX VENTURE:SCG) is pleased to announce the company's intent to expand into the US market and the appointment of Randy Khalaf to the company's Board of Directors.

SelectCore plans to leverage its existing network platform and infrastructure to support new business opportunities while mirroring its PrepaidONE POSA solution that has already attracted the attention of several potential US clients. Management plans to release more details in the coming weeks.

"Expansion into the US market is a natural progression for SelectCore" commented Keith McKenzie, CEO of SelectCore. "We see a tremendous opportunity to deploy our technology in a sizeable market that has a growing consumer demand for prepaid telecom and financial products."

Mr. Khalaf brings over 15 years of senior level financial experience that will help the company structure and plan for its expansion into the US market. Since January of 2008 Mr. Khalaf has held the position of Chief Financial Officer for UGN Inc., leading all financial, audit, IT, risk management and treasury activities. From 2003 to 2007 Mr. Khalaf was the Financial Director at GKN PLC. There he was responsible for new program costing and capital spending for international operations. Prior to this, Mr. Khalaf held senior level finance and accounting positions at Ford Motor Company and The Limited. 

"Mr. Khalaf's experience and knowledge are a welcome addition to our board" said Martin Bernholtz, Chairman of SelectCore. Mr. Khalaf commented "I am pleased to be joining the board of directors at such an exciting and pivotal time in the company's history. The future looks bright for SelectCore with its continued growth and expansion into the US market and prepaid financial services space."

The company also announces that it has accepted the resignation Peter Burdon, former Chief Financial Officer. Management thanks Peter and wishes him the best in his future endeavours. Jannet Wang, Senior Controller of SelectCore will be assuming the role of CFO.

About SelectCore:

SelectCore (TSX VENTURE:SCG) is in the business of providing prepaid telecom, prepaid financial and transaction-based POSA (point of sale activation) solutions utilizing its own network infrastructure and proprietary technology. SelectCore connects everyone with prepaid products and services through its nation-wide distribution channel of thousands of retail convenience and grocery store locations. Profit 100 ranked SelectCore one of Canada's fastest-growing companies in 2006 and again in 2007. SelectCore is listed on the TSX Venture Exchange under the symbol SCG.

This news release contains projections and other forward-looking statements regarding future events. Such statements are predictions, which may involve known and unknown risks, uncertainties and other factors, which could cause the actual events or results and objections to differ materially from those expressed. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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