Easyfinancial Services Inc. entered into an agreement to acquire 47 retail locations from The Cash Store Financial Services, Inc. (OTCPK:CSFS.F) on January 18, 2015. Under the terms, Easyfinancial Services will assume the lease rights and obligations for up to 32 retail locations currently occupied by Cash Store immediately upon closing, and will also assume the lease rights and obligations for up to a further 15 retail locations currently occupied by Cash Store upon successful negotiation of lease extension or new agreements with the relevant landlords. The transaction is subject to Court approval in Canada and the satisfaction of certain customary closing conditions.

The transaction is expected to close in the first quarter of 2015. Easyfinancial Services expects the transaction to be accretive to earnings. Joel Shaffer of Longview Communications acted as public relations advisor in the transaction.

Houlihan Lokey acted as financial advisor to ad hoc Committee of senior secured noteholders.