TORONTO, ONTARIO--(Marketwired - Aug. 15, 2014) - SelectCore Ltd. ("SelectCore" or the "Company") (TSX VENTURE:SCG) is pleased to announce that it has received 98% shareholder approval to move forward with the sale of its legacy prepaid telecom assets as previously announced July 18, 2014. The Company can now finalize outstanding items and move quickly to close the transaction.
At the Company's Annual General Meeting held August 8, 2014, shareholders also approved compensating the two independent Directors with shares as opposed to cash. As such, Martin Bernholtz and Michael Rohrer will be issued an aggregate of four million shares to satisfy all outstanding director compensation owed to date.
The Company also announces that an aggregate of 13,9250,000 options to purchase common shares of the Company have been granted to certain directors, officers, employees and consultants. The options are exercisable at $0.05 per share and expire on August 11, 2017.
SelectCore Ltd. (TSX VENTURE:SCG) is a pioneer and leader in alternative prepaid payment solutions for underserved markets. Founded in 1999, the Company offers a range of prepaid products and services that provide financial empowerment to a market of millions of under-banked consumers. SelectCore has been recognized as one of Canada's Fastest-Growing Companies by Profit100, North America's Fastest-Growing Technology companies by Deloitte Fast500, Canada's Top Tech Companies by Branham300 and Canada's Leading Payments Organization by Payments Exchange.
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.
Certain information in this news release contains forward-looking statements. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond SelectCore's control including, without limitation, the impact of general economic conditions, industry conditions, fluctuation of exchange rates, industry competition, availability of qualified personnel and management, stock market volatility and timely and cost effective access to sufficient capital from internal and external sources. As a consequence, actual results may differ materially from those anticipated in the forward-looking statements. Readers are cautioned that the forgoing list of factors is not exhaustive. Additional information on these and other factors that could affect SelectCore's operations and financial results are included in reports on file with Canadian securities regulatory authorities and may be accessed through the SEDAR website (www.sedar.com). Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and SelectCore does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.