SelectCore Ltd.
TSX VENTURE : SCG

SelectCore Ltd.

March 31, 2011 07:30 ET

SelectCore Appoints Former Green Dot Executive as Senior Advisor

TORONTO, ONTARIO--(Marketwire - March 31, 2011) - SelectCore Ltd. (TSX VENTURE:SCG), a leading payment and transaction processor for the prepaid industry, is pleased to announce that it has appointed Bryan Kenyon as Senior Advisor to the Company.

Mr. Kenyon was an early-stage executive and served as the Director of Financial Planning and Analysis for Green Dot Corporation (GDOT), a Sequoia Capital backed venture. Prior to his tenure at Green Dot, Bryan held senior-level finance management and analyst positions at Fluor Corporation. Mr. Kenyon is a partner in two investment funds and a private investor in several manufacturing, telecommunications and financial services companies. Bryan serves as the current chairman of Trycera Corporation, a US based, publicly traded financial services start-up catering to the financial management needs of under-banked consumers. Mr. Kenyon holds an MBA from the Graziadio School of Business and Management at Pepperdine University and a BA in business administration/finance from California State University at Fullerton.

Bryan will assist SelectCore with strategic planning and the roll-out of the Company's launch of ReCash – Canada's first retail cash reload network for network branded prepaid cards, similar to Green Dot (NYSE:GDOT) and NetSpend (NASDAQ:NTSP) in the US.

Mr. Kenyon will also provide guidance in the Company's dealings with US-based equity funds looking to invest globally in prepaid financial services companies such as SelectCore.

Mr. Kenyon commented "I am excited to join SelectCore at a time when the company is poised to significantly expand its business into the prepaid financial services market. I see perfect timing with the confluence of the growing under-banked population in Canada and SelectCore's existing network of retailers hosting its point-of-sale technology on Verifone terminals. They are in a very unique position to accelerate the roll-out of ReCash and leverage the Iridium brand."

Kenyon joins SelectCore just weeks after the Company announced the launch of ReCash and its plans to roll-out Iridium MasterCard nation-wide. "These among other key initiatives including expansion plans for new emerging markets, are positioning SelectCore for growth in margins, earnings and shareholder value" said Keith McKenzie, CEO of SelectCore.

About SelectCore

SelectCore is a leading provider of transaction processing and point-of-sale solutions for the prepaid telecom market and financial services sector. From prepaid mobile top-up to stored-value cards, SelectCore services a market of nearly 80 million underserved and credit-challenged consumers through its extensive retail distribution network. A public company trading under the symbol "SCG" on the TSX Venture Exchange, SelectCore was ranked by Profit100 Magazine as one of Canada's fastest growing companies in 2006, 2007 and 2009.

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. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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