SelectCore Announces Industry-Changing Mobile Remittance Solution

TORONTO, ONTARIO--(Marketwire - June 9, 2011) - SelectCore Ltd. (TSX VENTURE:SCG)(PINK SHEETS:SLXXF), a provider of prepaid telecom and financial solutions for the credit challenged and unbanked consumer market is pleased to announce its revolutionary Free and Instant Money Transfer solution.

After considerable development, testing and trials, the Company is now preparing to go to market with its technology by securing international merchant partnerships and deploying the service domestically throughout thousands of its existing retail locations.

Consumers across North America will be able to send free and instant money transfers to their friends and family abroad. The remittance is delivered instantly to the recipient's mobile device and funds are available for immediate use at their local merchant.

Unlike traditional money transfer services where high fees are incurred by the sender and receiver, SelectCore's revenue model is based on transaction fees and margin earned from merchant redemptions, similar to that of interchange with the major payment networks. International merchants can easily interconnect to the platform through their existing point of sale hardware.

Management believes that SelectCore is once again well positioned with its ability to leverage the Company's existing retail channel that provides direct access to millions of immigrants and ethnic consumers who are the target audience for this type of service.

"The development of this technology is keeping inline with the Company's global strategy of converting cash to electronic forms of payment while aggregating millions of under-banked consumers" commented Ryan Deslippe, President of SelectCore.

"SelectCore is poised to take part in the evolving mobile remittance industry", said Keith McKenzie, CEO of SelectCore. "Our technology that delivers a free and instant money transfer is truly a game changer".

About SelectCore:

SelectCore is a leading provider of transaction processing and point-of-sale solutions for the prepaid telecom market and financial services sector. From prepaid mobile top-up to stored-value cards, SelectCore services a market of nearly 80 million underbanked and credit-challenged consumers through its extensive retail distribution network across Canada and the United States. SelectCore is listed on the TSX Venture Exchange under the symbol "SCG" (TSX VENTURE:SCG) and "SLXXF" (PINK SHEETS:SLXXF) in the US. SelectCore was ranked by Profit100 Magazine as one of Canada's fastest growing companies in 2006, 2007, 2009 and 2010.

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-looking terminology 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 prepaid financial industries, changes in project parameters as plans continue to be refined 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 that such 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.