Toronto, Ontario--(Newsfile Corp. - January 21, 2016) - Further to our December 2, 2015 press release, the LTP Stakeholder Group, led by YS Capital Inc., a debtholder of LTP has launched legal action against First Global Data Limited, ("FGD") on behalf of the LTP Stakeholder Group.

The LTP Stakeholder Group has filed a suit on January 11, 2016 in the Ontario Court of Justice. The suit seeks to compel FGD to complete all aspects of the transaction that remain outstanding as well as seeking damages in the amount of $10 million.

The LTP Stakeholder Group continues to believe the transaction with FGD closed, and that it has a compelling case against FGD.

In particular we believe that:

  1.

FGD entered into an agreement to acquire LTP that was subject to raising financing. FGD issued a press release to this effect.

     
  2.

FGD in an effort to close funds as they were received entered into an amending agreement. That agreement resulting in the minimum financing being waived and certain shares put at risk. FGD then issued a press release to that effect indicating that the transaction was closed.

     
  3.

FGD released approximately 1.5 million shares to a particular investor in LTP but retained the others despite the amending agreement.

     
  4.

FGD then took management control of LTP as evidenced by the emails previously disclosed (as well as many others).

     

The LTP Stakeholder Group continues to assess additional remedies that might be available and intends to vigorously pursue this matter. The LTP Stakeholder Group will issue further updates as this matter progresses.

Neither the TSX Venture nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-looking Statements

Certain statements contained in this news release may constitute forward-looking information, within the meaning of Canadian securities laws. Forward-looking information may relate to this news release and other matters identified in this news release. Forward-looking information and anticipated events or results and can be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "projects", "predict", "potential", "continue" or other similar expressions concerning matters that are not historical facts. Such forward-looking statements are based on assumptions and uncertainties. While we consider these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Actual results may vary from such forward-looking information for a variety of reasons.

On behalf of the Stakeholder Group:

YS Capital Inc.

Brian F.P. Murphy, Q.C.
LSUC # 28177W
Legal Counsel

(905) 673-5187