SelectCore Ltd.
TSX VENTURE : SCG

SelectCore Ltd.

February 09, 2010 12:14 ET

SelectCore Launches Iridium MasterCard; Canada's First Reloadable Prepaid Card Sold at Retail

TORONTO, ONTARIO--(Marketwire - Feb. 9, 2010) - SelectCore Ltd. (TSX VENTURE:SCG), a provider of prepaid telecom and prepaid financial services, is pleased to announce the launch of Iridium MasterCard – Canada's first prepaid reloadable card sold to consumers through retail locations.

The Iridium Card is sold for only $3.99 and can be used instantly. There is no credit check or bank account required and the card can be reloaded over and over again up to a $5,000 balance. The Iridium MasterCard is accepted at over 28.5 million locations worldwide and online. Cardholders have complete control of their funds with online account access, text message alerts, bill pay, money transfers, ATM access and more. Customers can even have their paycheck deposited directly to their card on payday.

"The Iridium Card is a bank for the un-banked" said Keith McKenzie, CEO of SelectCore "from direct deposit to bill payments, ATM access and more, its just like having a checking account".

The program will be rolled out to over 4,000 retail partner locations across Canada this year, creating the nation's largest reload network for prepaid cards. SelectCore's proprietary processing platform and POS terminals deployed at these locations allow the cards to be activated and reloaded in real-time.

"Iridium MasterCard is the perfect solution for millions of un-banked and credit-challenged Canadian's who are looking for financial freedom. It's also a great alternative and budget tool for consumers that are paying high interest charges on traditional credit cards." commented Ryan Deslippe, President of SelectCore.

"SelectCore is now diversifying and expanding into the high-margin prepaid financial services industry, opening the door for many new opportunities" said Keith McKenzie, CEO of SelectCore.

To learn more, or get your own Iridium MasterCard visit www.iridiumcard.ca.

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.

About MasterCard Worldwide:

MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes over 22 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com. Follow us on Twitter: @mastercardnews.

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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