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MISSISSAUGA, Ontario, Oct. 10, 2018 (GLOBE NEWSWIRE) -- goeasy Ltd. (TSX: GSY) (“goeasy” or the “Company”), a leading full service provider of goods and alternative financial services that provides everyday Canadians with a chance for a better tomorrow, is pleased to announce that it has closed its previously announced offering of 920,000 common shares (the “Common Shares”) (including 120,000 Common Shares issued pursuant to the exercise in full by the syndicate of underwriters led by BMO Capital Markets, Raymond James Ltd. and Cormark Securities Ltd. of the over-allotment option granted by the Company), at a price of $50.50 per Common Share for aggregate gross proceeds of $46,460,000 (the “Offering”).

The Company intends to use the net proceeds of the Offering to support the growth of the easyfinancial consumer loan portfolio.

Forward-Looking Statements

This press release includes forward-looking statements about goeasy, including, but not limited to, the expected use of proceeds of the 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, 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 most recent Annual Information Form and Management Discussion and Analysis, as available on www.sedar.com, 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, which may not be appropriate for other purposes. 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.’s common shares are listed for trading on the TSX under the trading symbol “GSY” and goeasy Ltd.’s convertible debentures are traded on the TSX under the trading symbol “GSY-DB”. goeasy Ltd.’s is rated BB- with a stable trend from S&P and Ba3 with a stable trend from Moody’s.

For more information, visit www.goeasy.com.

For further information contact:

David Ingram
Chief Executive Officer
(905) 272-2788