TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5
OTCQB: FGBDF
TORONTO, June 18, 2018 /CNW/ - First Global Data Limited
("First Global" or the "Company") is pleased to announce that its wholly owned US subsidiary, First Global Money Inc, has entered
into a strategic partnership agreement with Gemini Worldwide Inc. ("Gemini") with a focus to increase the Company's cross border
remittance service transaction volume from Canada to the
Philippines.
According to a World Bank report dated April 23, 2018 (http://www.worldbank.org/en/news/press-release/2018/04/23/record-high-remittances-to-low-and-middle-income-countries-in-2017)
"Remittance inflows improved in all regions and the top remittance recipients were India with
$69 billion, followed by China ($64
billion), the Philippines ($33 billion), Mexico ($31 billion)…"
Gemini considers itself "The most trusted name in the Philippine Remittance Industry servicing Filipinos in Canada for 28 years". The Gemini Group is also well established in the
Philippines with group companies that provide a variety of products and services across the
Philippines.
Pursuant to the agreement Gemini will offer First Global Money™ cross border remittance services at all of its locations
across Canada. In addition, Receive Money Remittance services in the
Philippines will be provided by Gemini's affiliate Signed and Delivered Inc. through: A) one of the largest and widest
door to door delivery networks In the Philippines B) Online deposit to any bank in the Philippines; and C) Cash pick-up at physical locations across the
Philippines. The companies will also collaborate on marketing initiatives and will share the cost of this marketing.
The Company is also pleased to announce that under this agreement, services have been launched and the company is already
processing new transactions with this strategic partner.
"We are very pleased to be partners with First Global. We have been looking for a strategic partner for a while and we were
impressed with First Global's cross-border remittance services and its commitment to providing a reliable and compliant process
that complement Gemini's competitive strength. We look forward to expanding this partnership in other areas that are relevant to
both our organizations.", said Dan de la Cruz, Gemini's CFO.
"We are honored that Gemini has chosen First Global as its strategic partner for cross border remittance services from
Canada to the Philippines. Gemini was one of the largest money
remittance companies in Canada in the past, has a highly respected and trusted brand in the
Filipino community and will be taking an active role in expanding First Global's service delivery to this very important market",
said Andre Itwaru, Chairman and CEO of First Global.
About the Gemini Group of Companies (www.ggc.ph or www.ggc.ph/group?v=Gemini-Worldwide-Inc"
Gemini Worldwide Inc. is part of the larger Gemini Group of Companies ("GGC") GG is a conglomerate specializing in
providing services ranging from remittance fulfillment to cash and document courier services to cash management: all designed to
compliment the business of handling your most valued assets. A total business outsourcing group that specializes in providing
relevant and effective business solutions for logistically-challenged cash management companies. We strive to develop new and
revolutionary systems customized to meet the peculiar needs and requirements of our clients.
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. In
particular, this press release contains forward-looking statements with respect to the Company's ability to finalize its 2017
Audit within the next two months, have trading resume once 2017 Audit has been filed, pursue DTC eligibility, and improve overall
shareholder and market communications via sourcing professional IR support. There can be no assurance with respect to a
favourable outcome with respect to any of the foregoing matters. Investors are advised that absent a favourable outcome with all
of the foregoing matters, the business and market value of the Company, including the value of its common shares, may be
adversely and materially affected. 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
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