First Global Data Limited
TSX VENTURE : FGD

January 27, 2014 09:00 ET

First Global Data: New USA State License Granted

TORONTO, ONTARIO--(Marketwired - Jan. 27, 2014) - First Global Data Limited ("First Global" or the "Corporation") (TSX VENTURE:FGD) is pleased to announce that its wholly owned USA subsidiary, First Global Money Inc., has been granted a "Money Services" license by the State of Iowa. This license is required in order to conduct money services business in Iowa, and First Global is now able to offer services to residents in Iowa.

First Global has also turned on services to residents in the State of Montana where First Global has the "Authority to do Business" in that State.

With the addition of this new license in Iowa and enabling services in Montana, First Global is now licensed and able to carry out money services business in 15 states in the USA. These states include Arizona, California, Florida, Georgia, Illinois, Iowa, Maine, Minnesota, Missouri, Montana, Nevada, New Jersey, New York, South Carolina and Texas.

"Part of our strategy for 2014 includes increasing our presence in the USA, which is one of the largest, most sophisticated and highly regulated markets in the world," said Andre Itwaru, Chairman, President and CEO of the Corporation. "We believe that one of our strengths and differentiators is our focus on compliance and licensing. This license is another step in our overall growth strategy and as each state license is received, we are making efforts to rapidly move to offering services to our valued clients who were not previously able to use our services."

About First Global:

First Global Data Limited (TSX VENTURE:FGD), 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. First Global 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 First Global 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