SelectCore Announces Debt Settlement and Issuance of Options

TORONTO, June 20, 2012 /CNW/ - SelectCore Ltd. ("SelectCore" or the "Company") (TSX-SCG: CCV), a leading prepaid payment solutions provider for underserved markets, announces that, it will issue 583,333 shares at a deemed price of $0.18 per share for accrued directors compensation in the amount of $105,000 owed to two independent directors of the Company. The debt settlement is subject to the approval of the TSX Venture Exchange and the shares are subject to a four-month hold period under the policies of the Exchange.

In a separate transaction, the Company granted 1,950,000 consultant options to purchase common shares of the Company.  The options are exercisable at $0.18 per share expiring in 24 months.

About SelectCore
Established in 1999, SelectCore is a leading prepaid payment solutions provider for underserved markets. From prepaid stored-value cards to mobile top-up 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" (TSXV: 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. For more information please visit www.selectcore.com

Disclaimer: 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.

Contacts:
Ryan Deslippe
[email protected]
1-800-584-8819 x110

Craig MacPhail
[email protected]
[phone] x290