easyhome Ltd.
TSX : EH

easyhome Ltd.

November 12, 2013 09:03 ET

easyhome Completes Bought Deal Financing

TORONTO, ONTARIO--(Marketwired - Nov. 12, 2013) -

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

easyhome Ltd. (TSX:EH) (the "Company" or "easyhome") is pleased to announce it has completed its previously announced $20 million bought deal short form prospectus offering of common shares (the "Offering"). In aggregate, 1,346,900 common shares in the capital of the Company were issued, at a price of $14.85 per common share, for total gross proceeds of $20,001,465. The Offering was sold pursuant to an underwriting agreement between the Company and a syndicate of underwriters led by Cormark Securities Inc., and also included Raymond James Ltd., Beacon Securities Ltd., and Paradigm Capital Inc.

The net proceeds of the Offering will be used to fund growth initiatives in the easyfinancial services business and for general corporate and working capital purposes.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

About easyhome

As at September 30, 2013, easyhome Ltd. operated 235 easyhome leasing stores (including 8 consolidated franchise locations and 52 other franchise locations) and 112 easyfinancial locations.

easyhome Ltd. is the Canadian leader in providing goods and financial services to the cash and credit constrained consumer. easyhome Ltd. serves its customers through two key operating divisions, easyhome Leasing and easyfinancial. easyhome Leasing is Canada's largest merchandise leasing Company, offering top quality, brand-name household furnishings, appliances and home electronic products to consumers under weekly or monthly leasing agreements through both corporate and franchise stores. easyfinancial is a leading provider of consumer loans as an alternative to traditional banks and payday lenders. easyhome Ltd. is listed on the TSX under the symbol 'EH'. For more information, visit www.easyhome.ca.

Forward-Looking Statements

This news release includes forward-looking statements about easyhome Ltd., including about the use of proceeds of the Offering. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects', 'anticipates', 'intends', 'plans', 'believes' and similar expressions. Forward looking statements are based on certain factors and assumptions, including that the proceeds of the Offering will be used for the purposes stated in this news release, and are inherently subject to, among other things, risks and uncertainties about our operations, economic factors and the industry generally. They are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements made by us, due to, but not limited to important factors such as the risk that the proceeds of the Offering may be used for purposes other than as stated in this news release. We caution that the foregoing list is not exhaustive. 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. We are under no obligation (and expressly disclaim any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise, unless otherwise required by law.

Contact Information

  • easyhome Ltd.
    David Ingram
    President & Chief Executive Officer
    (905) 272-2788

    easyhome Ltd.
    Steve Goertz
    Senior Vice President & Chief Financial Officer
    (905) 272-2788
    www.easyhome.ca