goeasy Ltd. Announces Proposed Offering of Senior Unsecured Notes

MISSISSAUGA, Ontario, Oct. 24, 2017 -- 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 (the “Notes”). goeasy intends to use the net proceeds from the sale of the Notes, together with expected borrowings under the New Credit Facility (as defined below), to repay outstanding indebtedness, 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.

The actual terms of the Notes, including interest rate and principal amount, will depend on market conditions at the time of pricing. Concurrently with the offering, goeasy expects to complete the closing of a new senior secured credit agreement in an aggregate principal amount of up to CAD$110 million (the “New Credit Facility”).

The Notes are expected to be guaranteed on a senior unsecured basis by certain of goeasy’s current and future subsidiaries that are guarantors under the New 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 announcement 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 and the New Credit Facility. 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 15, 2017, its Management Discussion and Analysis for the year ended December 31, 2016 and its Management Discussion and Analysis for the three and six months ended June 30, 2017, 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.

For further information contact:

David Ingram
President and Chief Executive Officer
(905) 272-2788

         -or-

Steve Goertz
Executive Vice President and Chief Financial Officer
(905) 272-2788