First Global Data Limited

September 12, 2013 10:21 ET

First Global Data Closes Private Placement

TORONTO, ONTARIO--(Marketwired - Sept. 12, 2013) - First Global Data Limited ("First Global" or the "Corporation") (TSX VENTURE:FGD) would like to announce that, further to its press release of July 25, 2013, it has, pursuant to a non-brokered private placement, issued an aggregate of 7,895,370 units (the "Units") of the Corporation at a price of $0.135 per Unit for gross proceeds of $1,065,875. Each Unit is comprised of one (1) common share and one-half (1/2) of one common share purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one common share at a price of $0.50 at any time until close of business on September 9, 2015. The common shares and Warrants issued are subject to a four (4) month statutory hold period expiring on January 10, 2014.

First Global will use the proceeds from the sale of the Units to (i) increase its reserve fund (in the money remittance business known as the "float") and (ii) for general working capital.

About First Global

The Corporation, through its international subsidiaries, is in the business of delivering online and mobile money services and technology around the world. Services include payments, mobile peer-to-peer transactions, online and mobile payroll and bill payment solutions. The Corporation also enables its strategic partners and clients around the world with leading edge mobile and online financial service technology. More than 70 financial institutions and other organizations around the world use the Corporation's technology. First Global maintains a strong focus on compliance and holds licenses in the USA, Canada and other regions around the world. The Corporation's electronic transaction infrastructure currently extends to approximately 73 countries worldwide. First Global's goal is to become the global leader in the mobile money and online financial transaction services sector.

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.

This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • First Global Data Limited
    Andre Itwaru
    Chief Executive Officer and President
    416.504.7092 (FAX)