SelectCore Ltd.
TSX VENTURE : SCG

SelectCore Ltd.

February 29, 2012 07:00 ET

SelectCore to Launch Virtual Visa Through Its Facebook Social Mobile Remittance Platform

TORONTO, ONTARIO--(Marketwire - Feb. 29, 2012) - SelectCore Ltd. ("SelectCore") (TSX VENTURE:SCG), a prepaid telecom and financial services provider and transaction processor for the under-banked market, announced today that the Company has secured an agreement to launch Virtual Visa through its Facebook Social Media / Mobile Remittance Platform, "SocialTime".

SocialTime currently allows Canadian Facebook users a safe and convenient way to top up prepaid mobile phones of friends and family abroad in real time. Soon, with the addition of Virtual Visa, users will be able to request, gift and deliver a Virtual Visa in real time.

A Virtual Visa works similar to other credit and stored value cards. It can be used for web / online purchases, telephone orders, bill payments or through any merchant where a physical card is not required.

SocialTime incorporates the Company's mobile remittance technology with the growing landscape of social media, providing access to an extended global footprint of over 425 million mobile Facebook users and a market of $12 billion per month in remittances sent from Canada alone.

SocialTime is not only more convenient but also provides recipients and senders a lower-cost alternative to traditional bricks and mortar money transfer services.

"We believe that the convergence of social media and mobile platforms with the delivery of financial services and global remittances presents a significant market opportunity," commented Keith McKenzie, Chief Executive Officer of SelectCore.

About SelectCore

Established in 1999, SelectCore is a leading provider of transaction processing and point-of-sale solutions for the prepaid telecom market and prepaid financial services sector. From prepaid mobile top-up to stored-value cards and remittance solutions, SelectCore services a market of millions of under-banked and credit-challenged consumers through its technology platforms and retail distribution network across Canada and the United States. SelectCore is a publicly traded company listed on the TSX Venture Exchange under the symbol "SCG" (TSX VENTURE:SCG). SelectCore was ranked by Profit100 as one of Canada's fastest growing companies in 2006, 2007, 2009 and 2010. SelectCore was also ranked one of North America's fastest growing companies on Deloitte's 2011 Technology Fast 500.

This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including risks related to the regulatory approval process, market and financing conditions as well as risks associated with the prepaid telecom and prepaid financial industries, changes in project parameters as plans continue to be refined as well as those risk factors discussed in the Company's management's discussion and analysis for the period ended September 30, 2011, available on www.sedar.com. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information contained herein, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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