First Global Data Limited

First Global Data Limited

March 03, 2014 09:00 ET

First Global Data Expands its Money Services Capabilities With 16th U.S. State License

TORONTO, ONTARIO--(Marketwired - March 3, 2014) - First Global Data Limited ("First Global" or the "Corporation") (TSX VENTURE:FGD) is pleased to announce that it's wholly owned USA subsidiary, First Global Money Inc., has been granted a new Money Services license by the State of Arkansas. First Global now has money services licenses in 16 States in the U.S., having received 4 new licenses since January 2014. First Global is now able to conduct payments, domestic and international money remittances, and other money services in the following states: Arizona, Arkansas, California, Florida, Georgia, Illinois, Iowa, Maine, Minnesota, Missouri, Montana, Nevada, New Jersey, New York, South Carolina and Texas.

"This is another positive step in our overall growth strategy for 2014. New licenses enable us to continue to expand our business. Being licensed in the USA is a must for companies who intend to be well positioned for the transformational growth happening in the payments space in the USA and around the world. Licenses are also the differentiator for First Global as regulatory oversight continues to increase both in the USA and globally" said Andre Itwaru, Chairman, President and CEO of the Corporation.

About First Global:

First Global Data Limited (TSX VENTURE:FGD), is an international payments company whose services are designed primarily for the domestic and international underbanked markets. Services include Mobile and Online Payments, Money Transfer, including Peer to Peer mobile and online transfers. First Global moves money domestically and internationally in full compliance with regulatory guidelines. First Global also enables its strategic partners and clients around the world with its leading edge financial services technology products. First Global maintains a strong focus on compliance and holds licenses to operate as a Money Service Business 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.

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