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TORONTO, ONTARIO -- (Marketwired) -- 02/27/15 -- First Global Data Limited ("First Global" or the "Corporation") (TSX VENTURE: FGD) would like to provide an update with respect to its proposed private placement of a minimum of $3 million and maximum of $8 million in convertible debentures (the "Debentures") and the conversion of debt.

Pursuant to its press release of January 27, 2015, the Debentures will bear interest at 10% per annum, such interest to be payable on a semiannual basis. The term of the Debenture shall be three (3) years. The Debenture is convertible, at the option of the holder, at a price of $0.15 per share after the expiration of the statutory four (4) month hold period. In addition, the Debentures are automatically convertible into common shares of the Corporation in the event that the common shares of the Corporation closes at or above $0.40 per share on the TSX Venture Exchange for a period of five (5) consecutive days.

In connection with the issuance of the Debentures, the Corporation has agreed to issue an aggregate number of warrants (the "Warrants") equal to 20% of the aggregate number of common shares issuable upon the conversion of the Debentures. The Warrants shall entitle the holder thereof to acquire one (1) common share in the capital of the Corporation at an exercise price of $0.20 per share for a period of eighteen (18) months from date of issuance.

Further to its press release of November 4, 2014, the Corporation has agreed to convert three (3) promissory notes, which matured on December 31, 2014, in aggregate amount of $500,000 into three convertible debentures (the "Debt Debentures"). The Debt Debentures will bear interest at a rate of 10% per annum, such interest to be paid on a quarterly basis. The term of the Debt Debentures will be 24 months from the date of issuance and will be convertible, at the option of the holder, at a price of $0.12 per share at any time.

The issuance of Debentures and Debt Debentures will be subject to the receipt of all regulatory approvals, including the TSX Venture Exchange. There can be no assurance that the Corporation will issue the Debentures.

About First Global

First Global Data Limited (TSX VENTURE: FGD), is a leading edge financial services technology company whose services are designed primarily for the domestic and international underbanked markets. Services include Mobile and Online Payments, Money Transfer, including Peer to Peer mobile and online transfers. First Global moves money domestically and internationally in full compliance with regulatory guidelines. The Corporation also enables its strategic partners and clients around the world with its leading edge transaction technology. First Global maintains a strong focus on compliance and holds licenses to operate as a Money Service Business around the world. The Corporation's electronic transaction infrastructure currently extends to approximately 97 countries worldwide. First Global's goal is to become the global leader in the mobile money and online financial transaction services sector.

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.

This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.