SelectCore Ltd.
TSX VENTURE : SCG

SelectCore Ltd.

February 16, 2012 09:14 ET

SelectCore Signs 5-Year Exclusive Agreement for Iridium MasterCard

TORONTO, ONTARIO--(Marketwire - Feb. 16, 2012) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR RELEASE, PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES.

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 that it has entered into a 5 year exclusive sales agreement for Iridium MasterCard with LTP Financial payday loans and cheque cashing stores.

There is no credit check, security deposit or bank account required to get an Iridium MasterCard. The card, which can be reloaded over and over again up to a $5,000 balance, is accepted at over 29.4 million locations worldwide and online. Cardholders have complete control of their funds with online account access, text message alerts, card to card money share, ATM access and more.

SelectCore's proprietary point-of-sale platform and Verifone terminals deployed at retail locations allow the cards to be activated and reloaded in real-time.

"Iridium MasterCard is the perfect solution to provide financial empowerment to under-banked and credit-challenged Canadian's who do not have access to traditional financial services." said Keith McKenzie, CEO of SelectCore. "We are pleased to have LTP Financial join our growing footprint of Iridium retail partners that is now extending beyond convenience and grocery stores to a market of thousands of alternative financial services locations."

"The Iridium MasterCard is a great new financial product for our customer base and we are pleased to have partnered with SelectCore to offer these cards in our growing chain of payday loan and check cashing stores" commented Carolyn Perry, Vice President of LTP Financial.

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

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 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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