SelectCore Ltd.
TSX VENTURE : SCG

SelectCore Ltd.

July 31, 2015 07:00 ET

SelectCore Signs Joint Venture Agreement with CellMaster in Trinidad and Tobago

TORONTO, ONTARIO--(Marketwired - July 31, 2015) - SelectCore Ltd. (TSX VENTURE:SCG), a prepaid telecom and financial services provider for the under-banked consumer market.

SelectCore is pleased to announce that it has executed a joint venture contract in Trinidad and Tobago related to SelectCore's prepaid financial services business. The agreement was signed July 23 2015 with CellMaster Limited for a three-year term. CellMaster specializes in the supply and management of cellular based services. It has partnered with multiple blue-chip businesses to provide an unrivalled suite of services to the telecommunication industry locally and regionally.

The first prepaid program under this new joint venture agreement will be launched in Q3 2015 for one of the largest telecommunication companies in Trinidad and Tobago. The program will include the issuance to cardholders of a personalized CHIP and PIN card, coupled with a mobile ecosystem, which includes an e-wallet, online direct Top-Up and online Bill Payment functions. The CHIP and PIN prepaid card and apps are the first of their kind in the region.

SelectCore has worked diligently over the last number of years to secure business opportunities in the Caribbean and Latin America. These activities were disclosed in SelectCore's MD&A for the year-end 2014 which was reported on April 30th 2015, and per the corporate update press release on Sep 25th 2012.

"We believe that there is a tremendous opportunity in the Caribbean and Latin American market which presents unprecedented growth prospects for SelectCore through its partnership with CellMaster." stated Mohammad Abuleil, President of SelectCore.

Mr. Richard Smith, Chairman of CellMaster added, "With the prevalence of data, internet and general connectedness, CellMaster is very excited to have worked on the production of such a significant product in our home market first. The product designed for mobile customers offers some truly useful and innovative features that Trinbagonians will appreciate - like instant 'balance available' and transaction details on your phone in real time".

SelectCore continues to focus on the prepaid payment business, with a particular emphasis on carrier related business, provision and support of the APP based eco-systems and is working to expand in the Caribbean and Latin America.

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