First Global Data Limited

First Global Data Limited

March 20, 2014 09:00 ET

First Global Data Expands Its Money Services Licensing in the USA and Its Global Reach

TORONTO, ONTARIO--(Marketwired - March 20, 2014) - First Global Data Limited (TSX VENTURE:FGD) ("First Global" or the "Corporation") is pleased to announce that it's wholly owned USA subsidiary, First Global Money Inc., has been granted a new "Sale of Checks and Transmission of Money" license in the USA by the State of Delaware. First Global is now able to conduct money services in 17 States in the USA, having received 5 new licenses since January 2014. First Global is able to provide mobile and online payments, domestic and international money remittances, and other money services in the following states: Arizona, Arkansas, California, Delaware, Florida, Georgia, Illinois, Iowa, Maine, Minnesota, Missouri, Montana, Nevada, New Jersey, New York, South Carolina and Texas.

First Global is also pleased to announce that its global distribution network has grown from a previous 73 countries in 2013 to 97 countries to date.

"Nation wide licensing in the USA has always been a major focus for First Global and is very important element of our overall business strategy and growth. The USA remains the single largest country on the planet for the origination of transactions both domestically and internationally. State licensing along with expansion of our international reach opens new markets for First Global. Licensing is also an important element in First Global's plans for the expansion of our service portfolio across the USA including mobile payments," 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 97 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
    Chairman, President and CEO
    416.504.7092 (FAX)