It looks like something very interesting and sizable is in the works. The news release is vague, but one thing that is clear is that this management team doesn’t sleep…most likely because their business model and potential is now catching the eyes of other companies who want to be involved in some way, shape or form. I wouldn’t be surprised if this is a multi-company deal, possibly including MIT – Mint Technologies.
SelectCore Ltd. (the "Company") (TSX VENTURE:SCG), a provider of prepaid telecom and financial solutions for the credit challenged and under-banked consumer market announces that it has retained a Financial Advisor to act as an exclusive agent in connection with new potential merger / acquisition targets that have been presented to the Company.
Keith McKenzie, CEO of SelectCore commented "We are pleased to be working with an advisor to assist the Company in identifying value and synergies."
Due to the size, sensitivity and confidentiality of ongoing discussions, the Company is not at liberty to disclose the parties at this time.
This engagement is not related to the Company's proposed acquisition of a Canadian payment processor as previously announced on October 31, 2011 and November 21, 2011.