First Global Secures 16 New US Money Transmitter Licenses in Past Year

TSX Venture Exchange: FGD
Frankfurt Stock Exchange: 1G5

TORONTO, Jan. 4, 2018 /CNW/ - First Global Data ("First Global" or the "Company") is pleased to announce that its wholly owned US subsidiary, First Global Money Inc, has been granted two additional Money Transmitter licenses in the USA.

The Company has received approvals for new licenses from the states of Oklahoma and Oregon. This means that the Company now has 36 state money transmitter licenses having obtained 16 new licenses since January 2017.

"Firstly, on behalf of our entire global team, we would like to offer our sincere best wishes of good health, happiness and prosperity for 2018 to our shareholders, partners, and all of our stakeholders. In 2017, we made great progress in our USA license expansion program. We are fortunate to have received two new licenses in the early days of 2018. We believe that licenses and operating within the guidelines of the various regulatory bodies are key success factors for companies operating in the FINTECH sector. In retrospect, the decision to go this more difficult route is proving to have been the right decision. This is being validated by the number of companies interested in working with First Global. Licensing and compliance remain cornerstones of the Company and we continue to work diligently to obtain full license coverage in the USA," commented Andre Itwaru, Chairman and CEO of First Global Data Limited.

About First Global Data Ltd. (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. 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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