TORONTO, ONTARIO -- (Marketwire) -- 01/21/13 -- SelectCore Ltd. ("SelectCore" or the "Company") (TSX VENTURE: SCG) a leader in prepaid payment solutions, today announced a strategic restructuring of its executive management team to better position the Company to fully capitalize on new contracts and significant growth opportunities that are anticipated to develop over the near term.
As part of the restructuring initiatives, Mr. Kevin Taylor, Director of the Corporation, will assume the role of Chief Executive Officer. Mr. Keith McKenzie and Mr. Ryan Deslippe will remain with the Company in the key roles of President and Executive Vice President respectively. McKenzie and Taylor will continue to serve on the Board of Directors of SelectCore.
The restructuring brings an introduction of new leadership and the division of responsibilities to address the Company's growth priorities.
Mr. Taylor is a seasoned professional that brings more than 20 years of leadership experience having held senior-level positions in the Latin America and Caribbean market including heading up Nortel's carrier and wireless groups from 2000 to 2008. Mr. Taylor was also President of the Telecom division of Facey Group, one of the largest private companies domiciled in the Caribbean. Mr. Taylor completed the General Managers Program at the Harvard Business School in 2001 and received his Bachelor of Engineering - Science degree from the University of Western Ontario in 1994.
Mr. Taylor's vast wealth of knowledge and contacts in this region is already bolstering SelectCore's next phase of growth. In his new role, Mr. Taylor will not only focus on delivering sustained growth and profitability, but also raising the profile of SelectCore on a global scale and creating awareness among the public markets including analysts, retail and institutional investors.
These corporate restructuring initiatives are designed to strengthen the Company and position it for long-term success - allowing Mr. McKenzie, Mr. Deslippe and other key members of the executive team to focus their full-time efforts on business development initiatives and the execution of new contract implementations, innovation and product development.
The Company and all of its stakeholders stand to benefit considerably from these changes that come at an important time as SelectCore anticipates significant growth from new corporate and public sector prepaid card programs within Canada and the LAC region.
"These strategic changes ensure we have the best team and leadership in place to execute our growth plan and realize the enormous potential of our Company" commented Martin Bernholtz, Chairman of SelectCore. "They are aimed at accelerating profitable growth and increasing accountability and shareholder value."
SelectCore Ltd. (TSX VENTURE: SCG) is a pioneer and leader in prepaid payment solutions for underserved markets. Founded in 1999, the Company offers a range of prepaid products and services from stored-value cards to mobile top-up that provide financial empowerment to a market of millions of under-banked consumers. SelectCore has been ranked among Canada's fastest growing companies by Profit Magazine four times in the past six years and was included in the 2011 Deloitte Technology Fast 500 list of North America's fastest-growing technology companies.
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 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 and payment 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 the 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.
Neither 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.
SelectCore Investor Relations
(800) 584-8819 ext. 105
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