Press release from Marketwire
SelectCore to Offer Third-Party Gift Cards Through Retail Network
Thursday, May 24, 2012
SelectCore to Offer Third-Party Gift Cards Through Retail Network07:41 EDT Thursday, May 24, 2012TORONTO, ONTARIO--(Marketwire - May 24, 2012) - SelectCore Ltd. (TSX VENTURE:SCG), a leading prepaid financial services provider and transaction processor for under-banked and underserved markets, announced today that is has entered into a three-year distribution agreement with Gift Card Stop LLC. Under the terms of the agreement, major gift card brands will be made available through SelectCore's point-of-sale platform at retail partner locations across Canada and the United States. In lieu of having cards on a rack, virtual cards will be delivered electronically, in real-time at the point-of-sale. "Our electronic delivery system enables retailers to carry gift cards without the hassle of managing inventory, while giving consumers access to hundreds of cards", says Jeff Ehney, Gift Card Stop's principal. Gift Card Stop offers more than 70 third-party gift cards in Canada and 200 in the United States, including such popular brands as Sears, Macy's, AMC, Gap, Starbucks, and iTunes. "SelectCore is eager to add gift cards to our lineup of prepaid products and services", said Keith McKenzie, CEO of SelectCore. "Our point-of sale platform facilitates a new method of virtual product distribution.""Gift Cards are the number one gift giving item" explained David Rambaran, Gift Card Stop's Director of Business Development. "Customers receive a voucher redemption code at the point-of-sale and we are now working with SelectCore to deliver the gift cards directly to a consumer's mobile device".About SelectCoreEstablished in 1999, SelectCore is a leading prepaid financial services provider and transaction processor for the under-banked and underserved markets. From prepaid mobile top-up to stored-value cards and remittance solutions, SelectCore services a market of millions of under-banked consumers through its technology platforms and extensive retail distribution network. 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 and one of Canada's leading technology firms for 2012 on the Branham300.About Gift Card StopThrough its distributor network, Gift Card Stop delivers gift cards at thousands of retail locations across the US and Canada. Its electronic delivery system replaces the gift card rack with a paper receipt giving consumers access to hundreds of cards and eliminating the retailer's hassle of carrying inventory. Gift Card Stop is an affiliate of iCARD Systems, a leader in prepaid gift card solutions for incentives, promotions, and rebates since 1998. Learn more at www.icardsystems.com. 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 in this press release includes our expectation on implementation of the program and expected date of further press release. 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.FOR FURTHER INFORMATION PLEASE CONTACT: (800) 584-8819 ext. 105SelectCore Investor Relationsinvestor@selectcore.comwww.selectcore.comNeither 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.