Investors

Quick Facts

Frequently Asked Questions

Stock Quote

News

Investor Info

News
News Releases
2012 | 2011 | 2010 | 2009
2008 | 2007 | 2006

November 23, 2009
SelectCore Announces Debt Settlement
Read more:

For Immediate Release: November 23, 2009

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG), (the "Corporation") is pleased to announce that the Corporation has negotiated a share for debt settlement with a vendor of the Corporation.

The Corporation has agreed to issue an aggregate of 500,000 common shares to an arm's length party in exchange for the cancellation of $30,500 in debt. The common shares are being issued at a deemed price of $0.061 per common share. The debt settlement is subject to approval by the TSX Venture Exchange. ..hide


November 9, 2009
SelectCore Grants Options
Read more:

For Immediate Release: November 9, 2009

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG), announces that in recognition of the company's performance The Board of Directors of Selectcore, Ltd. has approved the issuance of 4,900,000 options to the senior management, all full time employees and the members of the Board of Directors The options are exercisable at $0.10 which represents a 53% premium over the current trading price and will expire in 3 years. Martin Bernholtz the Chairman of the Board stated "The CEO, President and CFO as well as other key employees options that were previously granted have all since expired." He further stated "The company has seen growth and improved profitability and the Board felt it appropriate to compensate management and employees for their efforts."

Under SelectCore's stock option plan there is a total of 9,507,471 options available. After the issuance of the options granted today the company will only have 4,607,471 subject to outstanding option grants. ..hide


October 28, 2009
SelectCore Continues to Achieve Record Revenues and Earnings. Reports Third Quarter Results.
Read more:

For Immediate Release: October 28, 2009

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG), a provider of prepaid telecom and prepaid financial solutions is pleased to report its financial results for the third quarter ended September 30, 2009.

Financial highlights:
  • Revenues increased 17% to $23.1 million over the same period 2008
  • Gross Profit increased 34% over the same period 2008
  • Margins improved 15% over the same period 2008
  • Overhead reduced by 13% over the same period 2008
  • Net Earnings improved $1.1 million over the same period 2008
  • Improved working capital position by $900,000 over the last 3 quarters
  • 5th consecutive quarter of positive financial results

Record revenues of $23.1 million for the third quarter 2009 represented an increase of 17% as compared to $19.8 million in the same period 2008. This organic growth was attributable to the strong market demand for the Company's proprietary point of sale activation (POSA) solution and prepaid products and services.

Gross profit of $1.4 million for the third quarter 2009 represented an increase of 34% over the same period 2008. The improvement is due to higher sales volumes combined with increased margins.

Reflecting our continued emphasis on controlling costs and the past year's restructuring actions, SG&A expenses were $913 thousand for the third quarter 2009, a 13% decrease over the same period 2008.

Net income for the third quarter 2009 was $594,445 or $0.006 per share, an increase in excess of $1.1 million over the same period 2008.

"We continue to deliver shareholder value with improved financial results quarter over quarter" commented Keith McKenzie, CEO of SelectCore. "We believe that the company is now in a good position to accelerate our growth strategy of launching new, high margin offerings for the prepaid financial services market"

The Company's Financial Statements and Management Discussion and Analysis for the three months ending September 30, 2009 are available on SEDAR at www.sedar.com. ..hide


October 22, 2009
SelectCore Signs New Agreement with Telus
Read more:

For Immediate Release: October 22, 2009

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG), a provider of prepaid telecom and transaction solutions is pleased to announce that it has signed a new, three year service agreement with TELUS, one of Canada's leading national telecommunications companies.

Since 2005, SelectCore has provided TELUS with long distance switching and POSA (point of sale activation) services through the company's proprietary technology platform.

"TELUS is pleased to renew and strengthen our long-standing relationship with Selectcore," said Christopher Smith, Director, TELUS Business Solutions."We see strong growth opportunities in the prepaid card services business and are continuing to invest and develop new products for this important market segment."

Derek Robertson, Vice President of Operations for SelectCore said "We are focused on maintaining long-term relationships with our valued customers and this new agreement speaks to the confidence that TELUS has with SelectCore's technology and level of service". ..hide


October 14, 2009
SelectCore Signs Major Customer Contract
Read more:

For Immediate Release: October 14, 2009

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG), Canada's premier provider of prepaid telecom and transaction solutions is pleased to announce that it has signed a significant three year customer contract with one of Canada's largest national retailers to provide its point of sale activation solution for the delivery of prepaid wireless and long distance products.

SelectCore's proprietary POSA technology provides our retail partners the ability to electronically sell prepaid airtime PINS for Canada's top wireless brands in real-time with no inventory requirements. The platform, which is integrated with the retailer's existing cash register system, also allows for real-time activation of prepaid long distance products.

Ryan Deslippe, President of SelectCore said "We are extremely pleased that we have been awarded this major contract. We believe that our technology and superior level of service played a key role in our customer's decision to choose SelectCore. This milestone certainly strengthens our position as a leading technology provider in the marketplace" ..hide


August 13, 2009
SelectCore Achieves Record Revenues and Earnings for Second Quarter Results
Read more:

For Immediate Release: August 13, 2009

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG), Canada's premier provider of prepaid telecom and transaction solutions is pleased to report its financial results for the second quarter ended June 30, 2009.

Financial highlights:
  • Revenues increased 38% to $22.6 million over the same period 2008
  • Gross Profit increased 42% over the same period 2008
  • Net Earnings improved over $1.4 million over the same period 2008
  • 4th consecutive quarter of EBITA positive financial results
Record revenues of $22.6 million for the second quarter 2009 represented an increase of 38% as compared to $16.4 million in the same period 2008. This organic growth was attributable to the strong market demand for the Company's proprietary point of sale activation (POSA) solution and prepaid products and services.

Gross profit of $1.3 million for the second quarter 2009 represented an increase of 42% over the same period 2008. The improvement is due to higher sales volumes combined with increased margins.

Net income for the second quarter 2009 was $318,000 or $0.003 per share, an increase in excess of $1.4 million over the same period 2008.

"We are pleased with our financial results and expect the demand for prepaid to continue," commented Keith McKenzie, CEO of SelectCore. "Our focus is simple - expand our distribution footprint and leverage our channel to launch new and innovative prepaid products and services"

The Company's Financial Statements and Management Discussion and Analysis for the three months ending June 30, 2009 are available on SEDAR at www.sedar.com. ..hide


May 28, 2009
SelectCore Announces First Quarter Financial Results
Read more:

For Immediate Release: May 28, 2009

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG), Canada's premier provider of prepaid telecom and transaction solutions is pleased to report its financial results for the first quarter ended March 31, 2009.

Revenues of $18.2 million for the first quarter 2009 represented an increase of 18.5% as compared to $15.4 million in the same period 2008. This sales growth was attributable to the strong market demand for the Company's proprietary point of sale activation (POSA) solution.

Adjusted EBITDA for the first quarter was $73k, an improvement of 10% over the same period 2008.

In the first quarter, the company successfully implemented over $1 million in annual cost savings measures by identifying key efficiencies and reductions in fixed operating costs. Peter Burdon, Chief Financial Officer of SelectCore commented, "These savings will have a direct positive impact to our bottom line for 2009. We have streamlined our operations to significantly increase profitability and shareholder value while maintaining a world-class level of service to our customers."

The Company's Financial Statements and Management Discussion and Analysis for the three months ending March 31, 2009 are available on SEDAR at www.sedar.com.

The Company also announces that it has appointed Mike Rohrer to its Board of Directors. ..hide


April 30, 2009
SelectCore Announces 2008 Year-End Results
Read more:

For Immediate Release: April 30, 2009

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG) announced today the company's audited financial results for the year ended December 31, 2008.

Financial highlights:
  • Revenues increased 48% to $70.6 million over 2007
  • Gross Profit increased 71% over 2007
  • Adjusted EBITDA improved $1.5 million over 2007
Revenues of $70.6 million for fiscal 2008 represented an increase of 48% as compared to $47.8 million in 2007. The growth is attributable primarily to an increase in prepaid wireless top-up sales through the Company's proprietary point of sale activation (POSA) platform.

Gross Profit for fiscal 2008 was $3.6 million, a significant improvement of 71% over 2007. Adjusted EBITDA for fiscal 2008 was positive $107,000 compared to negative $1.4 million in 2007, an improvement of $1.5 million.

The Company decided to write-down $4.3 million in equipment, intangibles and goodwill that was acquired through the acquisition of Canquest Communications in 2007. These write-downs along with recent restructuring and cost reduction initiatives will lead to higher profits for the Company in 2009 said Peter Burdon, CFO of SelectCore.

Keith McKenzie, CEO of SelectCore stated, We have experienced year over year growth in both sales and margins and we expect this trend to continue in 2009 as we leverage our technology and retail distribution channel to deliver new prepaid products and services.

The Company's Audited Financial Statements and Management Discussion and Analysis for the year ended December 31, 2008 are available on SEDAR at www.sedar.com. ..hide


February 19, 2009
Mohammad Abu-Leil Appointed to Chief Operating Officer
Read more:

For Immediate Release: February 19, 2009

TORONTO, ON SelectCore (TSX-V: SCG) is pleased to announce that Mohammad Abu-Leil has been appointed to Chief Operating Officer of the company effective immediately.

Mr. Abu-Leil has been with SelectCore since January of 2007 as Vice President of Sales and Distribution and has been instrumental in the company's impressive revenue growth of over $30 million in just two years.

In addition to his new position, Mr. Abu-Leil will continue to oversee all sales and distribution for the company.

"We are delighted to have Mohammad join SelectCore's senior management team and we look forward to working with him in his new role" commented Ryan Deslippe, President of SelectCore. ..hide


February 13, 2009
SelectCore Appoints David Parkes to Senior Advisory Role
Read more:

For Immediate Release: February 13, 2009

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG), Canada¬Āfs premier provider of prepaid telecom and transaction solutions, announced today that David Parkes has been appointed to the position of Senior Advisor to the company.

Management wishes to thank David for his contribution to the progress of SelectCore, while acting as Chairman, and looks forward to continue working with him in his new capacity. "We expect that this change will bring greater value to the company and our shareholders" commented Keith McKenzie, CEO of SelectCore. "David brings a tremendous wealth of experience in our industry that we will continue to leverage".

Martin Bernholtz, current Director of SelectCore will assume the role as acting Chair...hide



Neither TSX Venture Exchange nor its Regulation ServicesProvider (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-lookingterminology 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 market and financing conditions as well as risks associated with the prepaid telecom and prepaidfinancial industries, changes in project parameters as plans continue to berefined as well as those risk factors discussed in the Company's management's discussion and analysis for the period ended December 31, 2010, 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 thatsuch 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.