TORONTO, Sept. 28, 2017 (GLOBE NEWSWIRE) -- Fintech Select Ltd. (Formerly SelectCore Ltd.) (“Fintech Select” or the “Company”) (TSX-V:FTEC) announced today that it has been served by Home Trust Company (“Home Trust”) with a Statement of Claim pursuant to the Simplified Rules of the ADR Institute of Canada (the “Claim”).
The Claim relates to a shortfall in a funding account created pursuant to a Card Management Agreement among Fintech Select and Home Trust and, in particular, minimum monthly fees. The Company has been disclosing these payables in its financial statements during the previous years.
The Company intends to vigorously defend the action or, should management find such to be in the best interests of the Company, to pursue settlement of the action with Home Trust.
About Fintech Select (www.fintechselect.com):
Fintech Select is a provider of robust and disruptive Pre-Paid Card programs, mobile banking solutions and Cryptocurrency technologies. Fintech Select has enabled these core assets which operate through separate divisions to work together harmoniously to create a new and ubiquitous environment for consumers and businesses alike. Our mission is to provide customers with choice, convenience and cost-effective ways to facilitate traditional and crypto financial transactions. We are working on creating a widespread Fintech and Cryptocurrency eco-system through our network of partners leveraging our Pre-Paid cards and POS solutions.
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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.