TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, Aug. 24, 2017 /CNW/ - First Global Data
("First Global" or the "Company") announced today that its annual
general meeting of shareholders (the "AGM"), which was originally
scheduled to be held on Thursday, September
21, 2017, has been rescheduled to be held on Thursday, October 26, 2017. The Board of
Directors determined that it would be in the best interests of the
Company to reschedule the AGM for a variety of reasons. Further
details on the AGM will be contained in a Notice of Meeting and
Management Information Circular that will be mailed to shareholders
of the Company and filed on SEDAR.
The Company is also pleased to advise that its wholly owned US
subsidiary, First Global Money Inc., has obtained two additional
money transmitter licenses in the USA from the States of Tennessee and West
Virginia.
The Company now has 24 licenses and 2 "Certificates of
Authority" to conduct business in a total of 26 US States. These
licenses are provided by the State financial regulators and enable
the company to conduct a variety of financial transactions and
services. This includes the ability for the Company to perform
cross border payments and remittances.
The Company would also like to advise that it has granted
200,000 options to a consultant. The consultant options expire on
January 8, 2022. 100,000 options vest
immediately and are exercisable at a price of $0.45. 50,000 options vest on the first
anniversary date of the options agreement at an exercise price of
$0.50, and 50,000 options vest on the
second anniversary date of the options agreement at an exercise
price of $0.55. The final grant of
options is conditional on TSX Venture Exchange approval.
"We continue to focus on adding new licenses as they enable the
Company to provide a variety of financial transaction services. A
good example is the innovative service we have launched on the
WeChat platform which enables customers to send money to
China in a few simple taps on
their mobile phones. These State licenses prescribe certain
compliance rules which we have built into our services. We feel
that the combination of our innovative mobile technology combined
with our licenses provides First Global with a significant
strategic differentiation," said Andre
Itwaru, Chairman and CEO of First Global Data Limited.
About First Global Data Ltd.
(www.firstglobaldata.com)
First Global is an international
financial services technology ("FINTECH") company. The Company's
two main lines of business are mobile payments and cross border
payments. First Global's proprietary leading edge technology
enables the convergence of compliant domestic and cross border
payments, shopping, Peer to Peer ("P2P"), Business to Consumer
("B2C"), and Business to Business ("B2B") payments. First Global
enables its strategic partners and clients around the world with
our leading edge financial services technology platform.
Caution:
Neither TSX Venture Exchange Inc. ("TSXV")
nor its Regulation Services Provider (as that term is defined in
the policies of the TSXV) accepts responsibility for the adequacy
or accuracy of this release.
The securities offered have not been registered under the
U.S. Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent
registration or an applicable exemption from the registration
requirements. This press release shall not constitute an offer to
sell or a solicitation of an offer to buy nor shall there be any
sale of the securities offered in any jurisdiction in which such
offer, solicitation or sale would be unlawful.
Forward Looking Information:
This news release
contains "forward-looking information" within the meaning of
applicable securities laws. Although First Global believes in light
of the experience of its officers and directors, current conditions
and expected future developments and other factors that have been
considered appropriate, that the expectations reflected in this
forward-looking information are reasonable, undue reliance should
not be placed on them because First Global can give no assurance
that they will prove to be correct. Readers are cautioned to not
place undue reliance on forward-looking information. Actual results
and developments may differ materially from those contemplated by
these statements. The statements in this press release are made as
of the date of this release. First Global undertakes no obligation
to comment on analyses, expectations or statements made by
third-parties in respect of First Global, its securities, or
financial or operating results (as applicable). First Global
disclaims any intent or obligation to update publicly any
forward-looking information, whether as a result of new
information, future events or results or otherwise, other than as
required by applicable securities laws.
SOURCE First Global Data Limited