Mr. Andre Itwaru reports

FIRST GLOBAL ANNOUNCES CLOSING OF $10M PRIVATE PLACEMENT AND SEEKS FULL MONEY SERVICE LICENSING IN THE US

First Global Data Ltd. has closed its non-brokered private placement as previously announced in its press releases dated March 7, 2017, and March 16, 2017. The company issued an aggregate of 14,290,359 units at a price of 70 cents per unit for aggregate gross proceeds of $10,003,251.

Each unit comprises one common share in the capital of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one common share at an exercise price of 90 cents per share until March 22, 2020.

In the event that, during the period following 12 months from the closing date, the volume-weighted average trading price of the common shares on the TSX Venture Exchange exceeds $1.80 per common share for any period of 20 consecutive trading days, the company may, at its option, within five business days following such 20-day period, accelerate the warrant expiry date by delivery of notice to the registered holders thereof and issuing a press release, and, in such case, the warrant expiry date shall be deemed to be 5 p.m. Toronto time on the 30th day following the later of (i) the date on which the acceleration notice is sent to warrantholders and (ii) the date of issuance of the warrant acceleration press release.

The units and the underlying securities issuable in connection with the offering are subject to a statutory expiring on July 23, 2017.

The company is pleased to advise that a portion of the capital raised will be used to accelerate its efforts to obtain the balance of its money service licences in the United States. First Global currently has money service licences in 21 states and has taken the requisite actions to obtaining licensing in the other 29 states.

The licensing process is arduous and lengthy, and, due to the fiscal sensitivity, there are significant barriers to entry. The company has allocated significant resources toward securing the additional licences.

Leaders in the money remittance sector include companies such as Western Union, MoneyGram and Ria.

Andre Itwaru, First Global's chairman and chief executive officer, commented: "Obtaining money service licences in the United States is no easy task. Having the ability to transact in 50 states gives First Global a distinct advantage over many of our competitors. Accelerating obtaining the additional licences has now become a top priority as we have recently been presented with a number of near-term revenue-rich opportunities."

Douglas Smith, a director of First Global, added, "First Global's compliance and risk management is second to none, and this has attracted a number of significant high-profile global fintech companies."

About First Global Data Ltd.

First Global is an international financial services technology company. The company's two main lines of business are mobile payments and cross-border payments.

We seek Safe Harbor.