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December 1, 2010
SelectCore Announces Financial Results for Q3 2010
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For Immediate Release: December 1, 2010

SelectCore Ltd. has released its financial results for the third quarter ended Sept. 30, 2010.

Revenues of $26,064,619 for Q3 2010 represented an increase of 13 per cent as compared with $23,063,507 in the same period in 2009. The growth was attributable to new business expansion in the American market.

General and administrative expenses for Q3 2010 were $1,022,074, an increase of 12 per cent over the same period in 2009 due to costs associated with the company's expansion into the American market.

Adjusted earnings before interest, taxes, depreciation and amortization for Q3 2010 were $310,311, and net income was $199,439.

The company's financial statements and management discussion and analysis for the three months ending Sept. 30, 2010, are available on SEDAR. ..hide


October 18, 2010
SelectCore Amends Loan Agreement with Comvest Capital
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For Immediate Release: October 18, 2010

SelectCore Ltd. has entered into an agreement amending its revolving credit and term loan agreement with ComVest Capital II LP, which provided for a $2.5-million (U.S.) revolving line of credit and a $2.5-million (U.S.) term loan, all as described in more detail in the company's March 30, 2010, press release in Stockwatch.

Pursuant to the amendment, the company will benefit from the elimination of the 2-per-cent premium for prepayment of the term loan, and, if ComVest is paid out by Nov. 30, 2010, ComVest will surrender at no cost to the company the 9,809,523 common shares that it received in connection with the original facility. The company is also released from the obligation to repurchase any or all of the ComVest shares at a price of 14 cents per share at ComVest's option upon the repayment of the revolving loan. After deduction of specified fees and costs incurred in respect of the amendment, elimination of the repurchase obligation is expected to result in the company being able to avoid a payment obligation of over $1.2-million in respect of the ComVest shares.

The amendment provides for the right for the company to refinance in order to pay down the term loan and the revolving loan. Additionally, the amendment includes certain other amendments to the loan facility, including, among other things, the requirement to eliminate certain costs associated with the company's stored-value card business, amendments to the monitoring fees and certain loan covenants.

In consideration of the foregoing, the company has agreed to repay the term loan by March 31, 2011, (in three installments of $500,000 due Nov. 8, 2010, $750,000 due Dec. 31, 2010, and $1.25-million due March 31, 2011) and the revolving loan by Dec. 31, 2011, and to amend of the interest rate applicable to the revolving loan after April 1, 2011, by 0.5 per cent per month to up to a maximum interest rate of 13.5 per cent and of the interest rate applicable to the term loan after Jan. 1, 2011, up to a maximum interest rate of 15 per cent.

The amendment was entered into in order to enable the company to pursue other strategic partnerships and financing options in the near to medium term.

The amendment is conditional upon the approval of the TSX Venture Exchange.

Keith McKenzie, chief executive officerof SelectCore, commented, "We are very pleased to have achieved some future flexibility with respect to refinancing the company and improving our balance sheet."

About ComVest
The ComVest Group is a leading private investment firm focused on providing debt and equity solutions to lower middle-market companies with enterprise values of less than $350-million (U.S.). Since 1988, the ComVest Group has invested more than $2-billion (U.S.) of capital in over 200 public and private companies worldwide. ..hide


August 31, 2010
SelectCore Achieves Record Revenues for Q2 2010
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For Immediate Release: August 31, 2010

Selectcore Ltd. has released its financial results for the second quarter ended June 30, 2010.

Record revenues of $31.6-million for the second quarter 2010 represented an increase of 40 per cent as compared with $22.6-million in the same period 2009. The growth was attributable to continued demand for the company's proprietary point of sale activation solution and prepaid products.

Net loss for the second quarter 2010 was $214,738 compared with a net income of $317,630 for the second quarter 2009. The difference was in large part due to a foreign exchange loss of $236,564 in the current quarter compared with a foreign exchange gain of $186,150 in the same period 2009.

"Selectcore has made incremental investments with our recent entrance into the U.S. market," stated Keith McKenzie, chief executive officer of Selectcore. "With increased demand for prepaid in the U.S, we anticipate a significant amount of our growth to come from our U.S. subsidiary."

The company's financial statements, and management discussion and analysis for the three months ended June 30, 2010, are available on SEDAR. ..hide


June 16, 2010
SelectCore Ranked One of Canada's Fastest-Growing Companies Again
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For Immediate Release: June 16, 2010

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG), a provider of prepaid telecom and financial solutions for the credit challenged and unbanked consumer market, is pleased to announce that it has been ranked again as one of "Canada's Fastest Growing Companies" by Profit 100 Magazine.

Profit 100 ranks the country's most successful companies based on their revenue growth over the past 5 years and celebrates the achievement and entrepreneurial spirit of businesses which have thrived despite a challenging economic climate. "Canada's Fastest-Growing Companies are the poster children from entrepreneurship, innovation and pure tenacity," says Ian Portsmouth, editor of PROFIT. "They demonstrate what it takes to succeed in today's highly competitive, technology-driven global economy."

SelectCore ranked 155 with a 5-year growth rate of 279%. The company previously made Profit 100's top 100 list in both 2006 and 2007.

"We are honoured to be recognized once again by Profit 100. Our significant year over year growth is a direct result of our proprietary technology, entrepreneurial management team and dedicated employees" commented Ryan Deslippe, President of SelectCore. ..hide


May 31, 2010
SelectCore Announces Q1 2010 Financial Results
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For Immediate Release: May 31, 2010

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG), a provider of prepaid telecom and financial solutions for the credit challenged and unbanked consumer market, is pleased to report its financial results for the first quarter ended March 31, 2010. Financial highlights:
  • Revenues increased 13.9% to $20.73 million over the same period 2009.
  • Gross Profit increased 3% over the same period 2009.
  • <>liWorking Capital position improved 112% over the same period 2009.
  • 7th consecutive quarter of EBITDA positive financial results
  • Closed $5M debt financing facility

Revenues of $20.73 million for the first quarter 2010 represented an increase of 13.9% as compared to $18.19 million in the same period 2009. This organic growth was attributable to the strong market demand for the Company's proprietary PrepaidONE point of sale activation (POSA) solution and prepaid products and services.

Gross profit of $1.09 million for the first quarter 2010 represented an increase of 3% over the same period 2009. The improvement is due to higher sales volumes combined with increased margins. Net income for the first quarter 2010 was ($737,450). The loss was a primarily due to the costs incurred with the $5 million debt financing facility and costs associated with the companies expansion into the U.S. market.

The Company's Financial Statements and Management Discussion and Analysis for the three months ending March 31, 2010 are available on SEDAR at www.sedar.com. ..hide


April 30, 2010
SelectCore Announces Record Financial Results for 2009
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For Immediate Release: April 30, 2010

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG), a provider of prepaid telecom and financial solutions for the credit challenged and unbanked consumer market, is pleased to announce record results for the Company's audited financial statements for the year ending December 31, 2009.

Financial highlights:
  • Revenues increased 21% to $84.4 million over 2008
  • Gross profit increased 15% over 2008
  • Adjusted EBITDA increased 1,215% over 2008
  • Net earnings increased $8.3 million over 2008
  • Working capital position improved 15% over 2008
  • General and administrative expenses decreased 7% from 2008
  • 6th consecutive quarter of positive financial results

Revenue for the year ending December 31, 2009 totaled $84,448,174, an increase of $14.74 million or 21.1% compared to $69.7 million for the year ending December 31, 2008. Sales have continued to increase year over year due to the market demand for the Company's proprietary PrepaidONE point-of-sale solution for the sale of prepaid telecom products.

Gross Profit for year ending December 31, 2009 increased 15.50% over 2008 to $4,785,225. Adjusted EBITDA for the year ending December 31, 2009 was $1,021,389 compared to $77,629 for 2008, a significant improvement of 1,215%. Net Earnings for the year ending December 31, 2009 was $430,934, a significant improvement of $8,315,500 compared to the same period 2008.

In 2009 SelectCore successfully completed several business and product development milestones that will materially benefit the Company in 2010 and beyond. These milestones include the Company's recently announced entry into the US market and prepaid financial services space with the launch of Iridium MasterCard and international mobile top-up.

Keith McKenzie, CEO of SelectCore stated "2009 was a transformative year that has positioned SelectCore for a high level of continued growth not only in sales but also margins. Early results of this transformation have already been demonstrated and we expect this trend will be a key driver towards enhancing shareholder value in 2010".

The Company's Audited Financial Statements and Management Discussion and Analysis for the year ended December 31, 2009 are available on SEDAR at www.sedar.com. ..hide


March 30, 2010
SelectCore Completes US$5,000,000 Financing with Comvest Capital
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For Immediate Release: March 30, 2010

TORONTO, ON: SelectCore Ltd. (TSXV: SCG) (the "Company") announced today that it has entered into a debt financing arrangement for up to US$5,000,000 with Comvest Capital II, L.P. ("Comvest").

The financing consists of a revolving line of credit of up to US$2,500,000 and a US$2,500,000 term loan. Both facilities mature in 36 months. The revolving credit line bears an interest rate equal to the greater of prime plus 3% or 9% per annum while the term loan bears an interest rate of 12.5% per annum. At Comvest's option, it may convert up to US$1,000,000 of the term loan into common shares ("Common Shares") of the Company at a price of CDN$0.20 per share. The applicable Canadian-US dollar exchange rate in effect on the date of Comvest's applicable conversion notice will be used to determine the actual number of Common Shares to be issued in respect of such conversion. The financing is secured by a first lien on the Company's assets and those of its subsidiaries.

In connection with the financing, the Company has issued Comvest 4,000,000 bonus Common Shares (the "Bonus Shares") and paid Comvest closing/bonus cash fees of an aggregate of US$390,000. In addition, Comvest has acquired 5,809,523 outstanding Common Shares (the "Purchased Shares" and together with the Bonus Shares, the "Comvest Shares") currently held by the existing lender to the Company. The Bonus Shares and any Common Shares issuable upon conversion of the term note will be subject to a hold period ending July 30, 2010.

Among the other terms of the loan facility, Comvest has the option to require the Company, subject to compliance with applicable Canadian and/or United States securities laws, to repurchase any or all of the Comvest Shares at a price of CDN$0.14 per share (the "Repurchase Price"). However, if the Company is unable, pursuant to applicable Canadian and/or United States securities laws, to repurchase the Comvest Shares, Comvest may sell such shares to one or more purchasers (each a "Third Party Sale"). In the event that the sale price for the Comvest Shares received pursuant to a Third Party Sale (the "Third Party Sale Price") is less than the Repurchase Price, the Company shall pay Comvest an amount equal to the difference between the Repurchase Price and the Third Party Sale Price. Comvest may exercise this right on the maturity date of the revolving credit line (March 31, 2013) or such earlier time as the obligations under the loan agreement are prepaid or required to be prepaid.

In addition, the loan agreement with Comvest requires that the Company obtain Comvest's consent in order to issue any equity securities (or any rights or securities exercisable, convertible or exchangeable for any such equity securities) at a price less than CDN$0.10 per Common Share (other than pursuant to certain previously issued securities or rights) while any obligations to Comvest are outstanding pursuant to the loan agreement.

The net proceeds of the financing will be used to retire the Company's existing US$2,500,000 debt facility early and pay off certain accounts payable and otherwise for working capital and other general corporate purposes.

Keith McKenzie, CEO of SelectCore commented, "We are very pleased to have partnered with Comvest and feel we have chosen the right partner to help finance the Company's growth." ..hide


February 26, 2010
SelectCore to Launch International Mobile Top-Up
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For Immediate Release: February 26, 2010

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG), a provider of prepaid telecom and prepaid financial solutions is pleased to announce that the company will be launching international mobile top-up service on its PrepaidONE platform this March. SelectCore will be one of the first companies in Canada to offer this service through its nation-wide retail network of convenience and grocery stores.

Following the growing trend of global money remittance, international mobile top-up allows Canadian immigrants to stay connected with their friends and family abroad by purchasing mobile airtime on their behalf here in Canada. The recipient instantly receives a text message notifying them that their account has been topped-up in their local currency.

SelectCore will offer airtime top-up for more than 70 mobile operators in over 50 countries around the world including Tigo, Claro, Telcel, Digicel, Vodafone and Orange to name a few. Together, these operators represent a market of nearly 400 million prepaid mobile subscribers worldwide.

"Offering international top-up allows us to reach beyond our domestic market to generate a new source of revenue" commented Ryan Deslippe, President of SelectCore "There has been a growing demand in the US market, and we expect similar adoption here, in one of the world's most ethnically diverse countries" ..hide


February 16, 2010
SelectCore Announces Expansion Plans for US Market and Appointment of US Financial Executive to its Board of Directors
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For Immediate Release: February 16, 2010

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG) is pleased to announce the company's intent to expand into the US market and the appointment of Randy Khalaf to the company's Board of Directors.

SelectCore plans to leverage its existing network platform and infrastructure to support new business opportunities while mirroring its PrepaidONE POSA solution that has already attracted the attention of several potential US clients. Management plans to release more details in the coming weeks.

"Expansion into the US market is a natural progression for SelectCore" commented Keith McKenzie, CEO of SelectCore. "We see a tremendous opportunity to deploy our technology in a sizeable market that has a growing consumer demand for prepaid telecom and financial products."

Mr. Khalaf brings over 15 years of senior level financial experience that will help the company structure and plan for its expansion into the US market. Since January of 2008 Mr. Khalaf has held the position of Chief Financial Officer for UGN Inc., leading all financial, audit, IT, risk management and treasury activities. From 2003 to 2007 Mr. Khalaf was the Financial Director at GKN PLC. There he was responsible for new program costing and capital spending for international operations. Prior to this, Mr. Khalaf held senior level finance and accounting positions at Ford Motor Company and The Limited.

"Mr. Khalaf's experience and knowledge are a welcome addition to our board" said Martin Bernholtz, Chairman of SelectCore. Mr. Khalaf commented "I am pleased to be joining the board of directors at such an exciting and pivotal time in the company's history. The future looks bright for SelectCore with its continued growth and expansion into the US market and prepaid financial services space."

The company also announces that it has accepted the resignation Peter Burdon, former Chief Financial Officer. Management thanks Peter and wishes him the best in his future endeavours. Jannet Wang, Senior Controller of SelectCore will be assuming the role of CFO. ..hide


February 9, 2010
SelectCore Launches Iridium MasterCard.
Canada's First Reloadable Prepaid Card Sold at Retail.

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For Immediate Release: February 9, 2010

TORONTO, ON: SelectCore Ltd. (TSX-V: SCG), a provider of prepaid telecom and prepaid financial services, is pleased to announce the launch of Iridium MasterCard – Canada's first prepaid reloadable card sold to consumers through retail locations.

The Iridium Card is sold for only $3.99 and can be used instantly. There is no credit check or bank account required and the card can be reloaded over and over again up to a $5,000 balance. The Iridium MasterCard is accepted at over 28.5 million locations worldwide and online. Cardholders have complete control of their funds with online account access, text message alerts, bill pay, money transfers, ATM access and more. Customers can even have their paycheck deposited directly to their card on payday.

"The Iridium Card is a bank for the un-banked" said Keith McKenzie, CEO of SelectCore "from direct deposit to bill payments, ATM access and more, its just like having a checking account"

The program will be rolled out to over 4,000 retail partner locations across Canada this year, creating the nation's largest reload network for prepaid cards. SelectCore's proprietary processing platform and POS terminals deployed at these locations allow the cards to be activated and reloaded in real-time.

"Iridium MasterCard is the perfect solution for millions of un-banked and credit-challenged Canadian's who are looking for financial freedom. It's also a great alternative and budget tool for consumers that are paying high interest charges on traditional credit cards." commented Ryan Deslippe, President of SelectCore.

"SelectCore is now diversifying and expanding into the high-margin prepaid financial services industry, opening the door for many new opportunities" said Keith McKenzie, CEO of SelectCore.

To learn more, or get your own Iridium MasterCard visit www.iridiumcard.ca. ..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.