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SelectCore Announces Debt Settlement

^{Published on 2009-11-23 07:29:15 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Nov. 23, 2009) - SelectCore Ltd. (TSX VENTURE: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.

About SelectCore:

SelectCore is a leading provider of Prepaid Telecom and Prepaid Financial Services for credit-challenged and un-banked consumers. We service this market through a nation-wide retail channel of convenience and grocery stores. By leveraging our proprietary technology and extensive network infrastructure, we also provide wholesale solutions to corporate clients including some of the country's largest telecom companies and distributors. Profit 100 ranked SelectCore one of Canada's fastest-growing companies in 2006 and again in 2007. SelectCore is listed on the TSX Venture Exchange under the symbol SCG.

This news release contains projections and other forward-looking statements regarding future events. Such statements are predictions, which may involve known and unknown risks, uncertainties and other factors, which could cause the actual events or results and objections to differ materially from those expressed. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

For further information visit [ www.selectcore.com ]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.