SelectCore Announces Share Consolidation and Private Placement

TORONTO, ONTARIO--(Marketwired - June 5, 2015) - SelectCore Ltd. ("SelectCore" or the "Company") (TSX VENTURE:SCG) announces a share consolidation (the "Consolidation") on a ratio of 10 to 1 as to all of its common shares now outstanding. In addition, the Company announces its intention to also complete a subsequent private placement (the "Offering") for proceeds of up to $750,000 in the form of 15,000,000 common shares issued ("Issued Common Shares") at $0.05 each. In addition, each Issued Common Share will provide the applicable investor with one (1) warrant exercisable into one (1) common share expiring in 24 months which, if exercised, will result in proceeds per warrant to the Company of $0.08.

The Company currently has 187,378,548 common shares outstanding and, following the Consolidation, will have approximately 18,737,854 common shares outstanding. The change in the number of issued and outstanding common shares that will result from the Consolidation will not materially affect any shareholder's percentage ownership in the Company, although such ownership would be represented by a smaller number of common shares.

A letter of transmittal will be sent by mail to shareholders, and any holders of warrants and options, advising that the Consolidation has taken effect and setting out the procedure to surrender the certificates evidencing their common shares, warrants and options (collectively "Securities") for replacement certificates representing the number of new Securities to which they are entitled as a result of the Consolidation. Until surrendered, each certificate will be deemed for all purposes to represent the number of Securities to which the holder thereof is entitled as a result of the Consolidation.

The Consolidation was approved by the shareholders of the Company at the annual general and special meeting held on August 8, 2014. Further details regarding the Consolidation are contained in the Company's Information Circular July 14, 2014, which has been filed under the Company's profile on SEDAR at www.sedar.com.

Private Placement Offering

The Company will be offering up to $750,000 in the form of 15,000,000 common shares issued ("Issued Common Shares") at $0.05 each. In addition, each Issued Common Share will provide the applicable investor with one (1) warrant exercisable into one (1) common share expiring in 24 months which, if exercised, will lead to proceeds per warrant of $0.08. Proceeds of the Offering will be used to retire debt of the Company as well as to increase working capital to better pursue strategic alliances and opportunities.