/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED
STATES./
TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
TORONTO, May 8, 2017 /CNW/ - First Global Data ("First
Global" or the "Company") is pleased to announce that it has
partnered with The Money Cloud ("TMC") to add global foreign
exchange ("FX") comparison and purchasing services.
TMC considers itself the "Trivago of FX", currently providing FX
comparisons between companies. TMC will integrate to the Company's
mobile wallet to provide foreign exchange services to 140
countries. TMC will also promote the Company's mobile wallet and
payment services to TMC clients across Europe.
Foreign Exchange is by volume the largest market in the world.
According to the Bank for International Settlements, deliverable
foreign exchange is in the region of $177
trillion per annum (2015).
"We are delighted to announce this partnership with First Global
Data, one of the most respected and innovative mobile and cross
border payments company's out there. Using our extensive network,
we are extremely confident we can help First Global Data to
establish a significant footprint across Europe, and are equally pleased that FGD will
be using our comparison engine, to help cement their status as a
best-in-class provider of international payments services.", says
Emmanuel Addy, Money Cloud CEO.
Andre Itwaru, Chairman and CEO of
First Global comments, "Global FX capabilities is a key enabler to
achieving our vision of becoming one of the world's first portable,
interoperable mobile wallets. FX is an integral part of cross
border remittances and payments. By integrating The Money Cloud
services into our mobile wallet, consumers will have the ability to
source and purchase FX at the best rates available".
The Company is also pleased to announce that it has retained the
services of Renmark Financial Communications Inc. to handle its
investor relations activities. In consideration of the services to
be provided, the monthly fees incurred by First Global Data Limited
will be a cash consideration of up to $8,000 CAD, starting May
1, 2017 for a period of six months ending on October 30, 2017 and monthly thereafter. Renmark
Financial Communications does not have any interest, directly or
indirectly, in First Global Data Limited or its securities, or any
right or intent to acquire such an interest.
Mr. Itwaru added, "Renmark will assist the Company to interact
more effectively with our investor and shareholder base. Renmark
will also reinforce First Global's profile in the financial
community and enhance the visibility of our company and the
significant progress that we are making globally. We choose Renmark
because its standards and methodologies fit best with the message
we wish to communicate to the investing public"
About The Money Cloud: (www.themoneycloud.com)
We're an international money transfer comparison site that's
focused on giving you clear, honest information, so you can choose
the best way to send money overseas. Trust and value are at the
heart of The Money Cloud. We want to give you the confidence to try
more cost-effective ways of transferring money abroad, rather than
just accepting expensive bank fees. Right now there's a real drive
for change in the international money marketplace, and we're here
to address that. For the past few decades hidden charges,
complicated terms and conditions, and a serious lack of clear,
educative resources has made it difficult for people to find the
cheapest way to send money. We've designed The Money Cloud to show
you how to do that, providing the facts you need to make an
informed decision. We display the live, true exchange rates – not
the ones banks only give to each other, which is often what's
advertised. We deliver dynamic search results for a huge
range of 144 currencies. We publish straightforward guides and
update you on all the latest money transfer developments, making
you the expert.
About Renmark: (renmarkfinancial.com)
Renmark Financial Communications is a full service investor
relations firm representing small, medium and large cap public
companies trading on all major North American exchanges.
About First Global: (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