SelectCore Ltd.
TSX VENTURE : SCG

SelectCore Ltd.

October 04, 2011 08:20 ET

SelectCore Launches Facebook Social Mobile Remittance Platform

TORONTO, ONTARIO--(Marketwire - Oct. 4, 2011) - SelectCore Ltd. (the "Company") (TSX VENTURE:SCG), a prepaid telecom and financial services transaction processor for the under-banked consumer market, is pleased to announce the beta launch of the Company's Facebook social mobile remittance platform (www.socialtime.ca).

Social Time allows Canadian Facebook users a safe and convenient way to top-up prepaid mobile phones of friends and family abroad in real-time. The recipient instantly receives notification via text message and their Facebook inbox that their account has been topped-up in their local currency. Recipients can also request a top-up through their Facebook account.

Social Time incorporates the growing landscape of social media with SelectCore's mobile remittance technology and currently supports wireless providers in Latin America including Telcel, Movistar, Digicel, Claro, Lime and Globe to name a few. The service will eventually be offered in other countries and include additional international carriers.

The World Bank estimated that $58.1 billion was remitted to Latin America and the Caribbean in 2010. With 95% of all mobile subscribers in these countries being 'prepaid', there is a sizable opportunity to capture and convert traditional remittances to our social remittance platform.

"We continue to build on our technological initiatives to give us first mover advantage" commented Keith McKenzie, CEO of SelectCore." "Our Social Time Facebook platform is only the beginning in what we see as the vanguard to seamlessly integrating global remittance and financial transactions with social media"

To learn more about Social Time or to request or send a mobile top-up, simply login with your Facebook account at www.socialtime.ca.

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 June 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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