MISSISSAUGA, Ontario, July 12, 2018 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX:GSY) (“goeasy” or the “Company”) is pleased to announce that it plans to offer, subject to market and other conditions, senior unsecured notes that will have identical terms (other than issuance price, date of issuance and the date from which interest initially accrues) as, and will be treated as a single series with, the Company’s 7.875% unsecured notes due 2022 issued on November 1, 2017 (the “Notes”).

goeasy intends to use the net proceeds from the sale of the Notes to expand its consumer loan portfolio, for general corporate purposes and to pay fees and expenses of the offering of the Notes, including fees associated with entering into a currency swap agreement.

The Notes will be guaranteed on a senior unsecured basis by certain of goeasy’s current and future subsidiaries that are guarantors under the Company’s senior secured revolving credit facility.

The Notes and related guarantees have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws and the Notes may not be offered or sold in the United States or to any U.S. persons unless the Notes are registered under the Securities Act or pursuant to an exemption from the registration requirements of the Securities Act. This offering will be made only to qualified institutional buyers in accordance with Rule 144A under the Securities Act and outside the United States to non-U.S. persons in offshore transactions in compliance with Rule 903 of Regulation S under the Securities Act. Additionally, in Canada the offering will be made pursuant to exemptions from the prospectus requirements of applicable Canadian securities laws.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward-Looking Statements

This press release includes forward-looking statements about goeasy, including, but not limited to, the Company’s growth plans, and expectations regarding the terms, completion and use of proceeds of the Note offering. In certain cases, forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions, and/or can be identified by the use of words such as ‘expects’, ‘anticipates’, ‘intends’, ‘plans’, ‘believes’, ‘budgeted’, ‘estimates’, ‘forecasts’, ‘targets’ or negative versions thereof and similar expressions, and/or state that certain actions, events or results ‘may’, ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved.  Forward-looking statements are based on certain factors and assumptions, including expected growth, market conditions, results of operations and business prospects and are inherently subject to, among other things, risks, uncertainties and assumptions about the Company’s operations, economic factors and the industry generally, as well as those factors referred to in the Company’s Annual Information Form dated February 20, 2018, its Management Discussion and Analysis for the year ended December 31, 2017 and its Management Discussion and Analysis for the three month period ended March 31, 2018, as available on www.sedar.com, in each case in the section entitled “Risk Factors”. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those expressed or implied by forward-looking statements made by the Company.  The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise, unless required by law.

About goeasy

goeasy Ltd. is a leading full-service provider of goods and alternative financial services that provides everyday Canadians with a chance for a better tomorrow, today. goeasy Ltd. serves its customers through two key operating divisions, easyfinancial and easyhome. easyfinancial is a non-prime consumer lender that bridges the gap between traditional financial institutions and costly payday lenders. It is supported by a strong central credit adjudication process and industry leading risk analytics. easyfinancial also operates an indirect lending channel, offering loan products to consumers at the point-of-sale of third party merchants. easyhome is Canada's largest lease-to-own company, offering brand-name household furniture, appliances and electronics to consumers under weekly or monthly leasing agreements through both corporate and franchise stores. Both operating divisions of goeasy Ltd. offer the highest level of customer service and enable customers to transact through a national store and branch network and through its online and mobile eCommerce enabled platforms.

goeasy Ltd. is listed on the TSX under the symbol ‘GSY’.

For further information contact:

David Ingram
Chief Executive Officer
(905) 272-2788