First Global Announces Appointment of Douglas Smith to the Board of Directors and Granting of Options

TSX Venture Exchange: FGD

TORONTO, Dec. 7, 2016 /CNW/ - First Global Data Limited ("First Global" or the "Company") is pleased to announce the addition of the Honorable Douglas Smith, former Assistant Secretary of the US Department of Homeland Security, to our board of directors, and to the board of directors of our US subsidiary First Global Money Inc.

"It is indeed a privilege to be appointed to the board of First Global to help lead the FINTECH revolution currently taking place. It is my intent to reach deep into my rolodex to create opportunities globally and to maximize First Global's world class mobile payment technology as we cut a wide swath across the payments landscape" said Mr. Smith.

"We are delighted that Douglas has agreed to join our board. I have worked closely with Douglas over the past few months and know that he will be a huge contributor as we take First Global to the next levels of our growth strategy" said Andre Itwaru, the Company's Chairman and CEO.

About Mr. Smith:
Douglas has spent the last 25 years serving at the highest levels of government in national security and the private sector and is a serial entrepreneur having helped start numerous companies.  Douglas is currently a Managing Director for Kent Strategies, a strategic consulting firm, where Douglas leads the firm's engagements with national security work and international governments.  Smith brings to Kent over two decades of global experience in government relations, business development, communications, coalition building, public policy, and creating and managing public-private partnerships among Federal, State and local governments, and private industry. He has managed large-scale special projects and initiatives both within and outside of government.

Prior to joining Kent Strategies, Douglas was the Executive Vice President and General Manager for MWW PR, a leading international public relations and new media firm where he managed the Washington, DC office and was the primary client engagement manager for some of MWW's most iconic Fortune 100 clients.

Before joining MWW, Douglas was appointed by President Barack Obama to serve as the Assistant Secretary for the Private Sector at the U.S. Department of Homeland Security (DHS).  In this role, Douglas advised the Secretary on the impact of the Department's policies, regulations, and processes globally on millions of private sector companies, universities, and not-for-profits institutions. Douglas was responsible for coordinating seamless private sector engagement across all 22 of DHS's divisions including the Secret Service, Coast Guard, Customs and Boarder Protection and Immigration and Customs Enforcement.

Smith served as the Department's representative on the President's Travel and Tourism Advisory and Export Promotion Boards, the White House Business Council, the President's Job Council and the World Economic Forum Risk Officers Community.  Under his leadership, the office has dramatically expanded its global footprint resulting in Assistant Secretary Smith leading delegations throughout the United States and to over 20 countries in support of strengthening the global supply chain and promoting the Department's position of "global security equaling economic security".  In the wake of the 2010 earthquake in Haiti and the 2011 earthquake and tsunami in Japan, Assistant Secretary Smith headed an interagency team coordinating emergency response and supporting international commerce to keep the global supply chain moving.

Prior to his appointment at DHS, Douglas was the Managing Partner of T Street Partners, where he provided clients ranging from Fortune 100 companies to philanthropic and not-for-profit organizations with strategic counsel and public affairs consulting. During his time with T Street, Douglas successfully managed the winning campaign for the City of Chicago to be the U.S. Designate City for the 2016 Olympics.

Douglas came to T Street Partners from Leo Burnett Worldwide, where as a Vice President and account manager, he managed the then-new "Army of One" public relations/public affairs account for the U.S. Army.

During the Clinton-Gore Administration, Douglas served in a variety of positions including as Deputy Press Secretary as well as Director of Special Projects for Secretary Andrew Cuomo at the Department of Housing and Urban Development and then as the traveling Press Secretary for Secretary Rodney Slater at the Department of Transportation. He was also responsible for helping to manage the 50th Anniversary of NATO in Washington, D.C.

Douglas began his career in Thailand where he started an import/export company and was a frequent contributing author to Thai business magazines.

Douglas is a graduate of Beloit College where he received a bachelor's degree in international relations and Asian studies. While at Beloit, he also earned a degree from the School for International Training in Chiang Mai, Thailand.

Douglas is a frequent public speaker both domestically and internationally and regularly appears on national television as an expert on national security and managing crisis.  A lifetime dog lover, currently serves on the board of FidoTV, a new TV start up.

Options Program:
The Company would also like to announce it has granted 2,000,000 stock options to Mr. Smith. 1,000,000 options, which vest immediately, are exercisable at $0.45, 500,000 options, which vest on the one year anniversary of the grant date, are exercisable at $0.50 and the remaining 500,000 options, which vest on the two year anniversary of the grant date, are exercisable at $0.55. Each option is exercisable at any time until December 7, 2021.

In addition, the Company would also like to announce it has granted 3,500,000 stock options to CEO, Andre Itwaru and 3,500,000 stock options to CFO, Nayeem Alli. For each, 1,500,000 options, which vest immediately, are exercisable at $0.45, 1,000,000 options, which vest on the one year anniversary of the grant date, are exercisable at $0.50 and the remaining 1,000,000 options, which vest on the two year anniversary of the grant date, are exercisable at $0.55. Each option is exercisable at any time until December 7, 2021.

About First Global

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, money transfers, shopping and peer to peer payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE First Global Data Limited

Andre Itwaru, Chairman and Chief Executive Officer, Telephone: [phone], Facsimile: 416.504.7092, Email: [email protected]