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First Global Data Limited

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First Global Signs Deal for Social Benefits Distribution in Nigeria
First Global Signs Deal for Social Benefits Distribution in Nigeria

Canada NewsWire

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5

TORONTO, Feb. 16, 2017 /CNW/ - First Global Data ("First Global" or the "Company") is pleased to advise that it has signed an agreement with Dili Capital Corp. ("Dili Capital"), and Integrated Benefits Limited ("RIBS") for the deployment of First Global's mobile payment service to more than 10 million users in Nigeria.

RIBS is a Nigerian based organization that manages social benefits programs for payment to more than 10 million beneficiaries in Nigeria.

Dili Capital will finance the initiative and partner with RIBS for the launch of First Global's mobile wallet and mobile payment solution in Nigeria.

Andre Itwaru, First Global's Chairman and CEO advises, "Using a FINTECH solution for social benefits disbursements is not only efficient and cost effective, but is the way of the future. We are providing a solution for the Nigerian population but also intend to roll out a government services distribution solution globally with a current focus on Canada through our JV with Selectcore Limited, who are currently providing services in two Canadian provinces."     

About First Global

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

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2017/16/c3315.html

Andre Itwaru, Chief Executive Officer, t: (416) 504-3813, e: ir@firstglobaldata.comCopyright CNW Group 2017

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