First Global One of the Most Licensed Companies in the USA
TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, Jan. 25, 2018 /CNW/ - First Global Data ("First Global" or the "Company") is pleased to announce that its wholly owned US subsidiary, First Global Money Inc, is now licensed in 38 States in the USA.
The Company has been granted two new licenses from the States of Ohio and Kentucky.
"The USA is arguably the single largest market for services such as outbound remittances and cross border payments. Money transmitter licenses are required on a State by State basis for these and other financial transaction and payment services which First Global provides, and our licenses enable us to reach a broader consumer base across the USA. Our focus is to leverage these licenses for incremental transactional volume and revenue growth. Obtaining licenses involves a rigorous and intensive process, and the qualifying criteria is challenging at best. There are much larger companies which have unsuccessfully attempted to obtain licenses. We are proud that First Global is now one of the most licensed companies in the USA," commented 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
Andre Itwaru, Chairman and CEO, First Global Data Limited, email: [email protected]
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