SelectCore Ltd.
TSX VENTURE : SCG

SelectCore Ltd.

February 14, 2011 10:05 ET

SelectCore Provides Update on Iridium MasterCard

TORONTO, ONTARIO--(Marketwire - Feb. 14, 2011) - SelectCore Ltd. (TSX VENTURE:SCG) a leading payment and transaction processor for prepaid telecom and financial services is providing an update on its Iridium MasterCard business.

In the first quarter of last year, SelectCore launched Iridium MasterCard, the first of its kind reloadable prepaid card offered in Canada. 

SelectCore's proprietary point-of-sale technology that facilitates real-time card activation and reloads, has been deployed on over 4,000 company-owned VeriFone terminals in the marketplace. Sales results from Iridium cards being offered in a limited number of locations to date has proven to be highly successful. The Company is prepared to continue a nation-wide roll-out once it completes its refinancing (as per the Company's press release dated February 11, 2011).

Iridium MasterCard is part of the Company's strategic growth strategy to diversify into high-margin financial transaction processing. With millions of prepaid transactions being processed through SelectCore's existing terminal network, the Company enjoys direct access to millions of un-banked and credit challenged consumers who do not have access to traditional financial services offered by the banks. 

For more information on Iridium MasterCard, please visit www.iridiumcard.ca.

Further to the management update press release dated January 12, 2011, the Company will be announcing the launch of additional financial service offerings in the coming weeks.

About SelectCore:

SelectCore is a leading payment and transaction processor utilizing its proprietary point-of-sale technology to deliver prepaid telecom and financial services to millions of credit-challenged consumers through an extensive retail network across North America. SelectCore is a public company on the TSX Venture Exchange trading under the symbol "SCG". We were ranked one of the nation's top 100 fastest-growing companies in 2006 and 2007 and 2009 by Profit100.

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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