SelectCore Ltd.
TSX VENTURE : SCG

SelectCore Ltd.

April 08, 2014 06:30 ET

SelectCore Signs 3 Year Agreement to Issue nTrust® Cloud Money™ Cards

TORONTO, ONTARIO--(Marketwired - April 8, 2014) - SelectCore Ltd. ("SelectCore" or the "Company") (TSX VENTURE:SCG), Canada's Leading Payments Organization, is pleased to announce that it has signed a 3 year prepaid card agreement with nCrypt Financial Corp. (www.ntrust.com), the secure and trusted global peer-to-peer money transfer platform.

Under the terms of the agreement, SelectCore will provide a private label payment card solution, issuing both physical and virtual prepaid MasterCard cards, known as the nTrust® Cloud Money™ Card.

Available to Canadians this summer, nTrust's Cloud Money™ card works just like a credit card with the added benefit of controlled spending by limiting expenditures to the amount loaded on the Cloud Money™ Card. With no activation, monthly or annual fees and no minimum balance requirements, the Cloud Money card offers flexibility, putting members in control of their money.

nTrust members can manage their money online through their personal nTrust Cloud, sending and receiving money around the world for free, and using the physical Cloud Money™ Card to make cash withdrawals from 1.7 million ATMs worldwide. This unique feature makes the nTrust card ideal for travel, accessing cash sent overseas and online purchases, both locally and internationally.

"We're extremely pleased to partner with SelectCore for our nTrust Cloud Money™ Card to allow our members to seamlessly take their online funds offline," said Rod Hsu, CXO at nTrust. "Not only does our Cloud Money™ card provide an efficient way to unload funds from the nTrust Cloud, it offers autonomy from traditional banking."

"We are equally as excited to be working with nTrust," said Keith McKenzie, President of SelectCore. "This agreement demonstrates our ability to support new verticals for prepaid cards such as global remittance."

To learn more about the nTrust® Cloud Money™ Card visit www.ntrust.com.

About SelectCore:

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.

About nTrust

nTrust is a regulated and trusted global peer-to-peer money transfer platform helping people free their money. Using Cloud Money™, nTrust members can move money around the globe as fast and seamless as sending a text - for free - by uploading funds into their personal Cloud directly from their bank accounts, credit or debit cards, or other funding methods. Once a member's Cloud is loaded, funds can be instantly exchanged, used to pay bills or online merchants, loaded to an nTrust Cloud Money prepaid MasterCard® or conveniently sent to other members around the globe. nTrust's proprietary technology uses the highest encryption standards and is "PCI-DSS Level 1" certified - the top global standard for operational and technical security designed by Visa, MasterCard® and American Express.

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.

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 most recent financial reporting period, 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.

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