TORONTO, ONTARIO -- (Marketwired) -- 07/02/13 -- SelectCore Ltd. ("SelectCore" or the "Company") (TSX VENTURE: SCG), Canada's Leading Payments Organization, announced today that the Province of Alberta has chosen SelectCore to provide prepaid MasterCard cards for the disbursement of emergency relief funds to citizens displaced by the recent floods.
The Province of Alberta is distributing SelectCore's prepaid MasterCard cards as part of the Province's $1-billion pledge in reconstruction funds to affected communities. The cards are being loaded with $1,250 per adult and $500 per child as emergency relief in order to help pay for essential day-to-day purchases such as food and lodging.
SelectCore's emergency relief card solution allows government agencies to efficiently, securely and transparently distribute financial aid immediately to displaced families in the event of a disaster. The use of prepaid cards also significantly reduces the cost of distribution and risk associated with traditional cash or cheques.
"We are gratified that our prepaid card solution has been able to assist the Province of Alberta and the affected families," said Keith McKenzie, President of SelectCore. "We would also like to thank our partners at MasterCard, All-Trans Credit Union and DataCard for assisting in delivering such a fast response time."
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 recognized as one of Canada's Fastest-Growing Companies by Profit100, North America's Fastest-Growing Techno companies by Deloitte Fast500, Canada's Top Tech companies by Branham300 and Canada's Leading Payments Organization by Payments Exchange.
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.
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 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 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.
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