EDMONTON, Jan. 3, 2014 /PRNewswire/ - The Cash Store Financial Services Inc. ("Cash Store Financial" or the "Company") (TSX: CSF; NYSE: CSFS) today announced the resignation of Mickey Dunn from the board of directors of Cash Store Financial, effective January 2, 2014. The Company would like to thank Mr. Dunn for his contributions and wishes him every success in his future endeavours.
About Cash Store Financial
Cash Store Financial is the only lender and broker of short-term advances and provider of other financial services in Canada that is listed on the Toronto Stock Exchange (TSX: CSF). Cash Store Financial also trades on the New York Stock Exchange (NYSE: CSFS). Cash Store Financial operates 510 branches across Canada under the banners "Cash Store Financial" and "Instaloans". Cash Store Financial also operates 27 branches in the United Kingdom.
Cash Store Financial and Instaloans primarily act as lenders and brokers to facilitate short-term advances and provide other financial services to income-earning consumers who may not be able to obtain them from traditional banks. Cash Store Financial also provides a private-label debit card (the "Freedom" card) and a prepaid credit card (the "Freedom MasterCard") as well as other financial services, including bank accounts.
Cash Store Financial employs approximately 1,900 associates and is headquartered in Edmonton, Alberta.
Cash Store Financial is a Canadian corporation that is not affiliated with Cottonwood Financial Ltd. or the outlets Cottonwood Financial Ltd. operates in the United States under the name "Cash Store." Cash Store Financial does not do business under the name "Cash Store" in the United States and does not own or provide any consumer lending services in the United States.
Forward-Looking Information
This news release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation and
"forward-looking statements" within the meaning of United States
federal securities legislation, which we refer to herein, collectively,
as "forward-looking information". Generally, forward-looking
information can be identified by the use of forward-looking terminology
such as "estimates", "plans", "expects", or "does not expect", "is
expected", "budget", "scheduled", "forecasts", "intends",
"anticipates", or "does not anticipate", or "believes" or variations of
such words and phrases or state that certain actions, events or results
"may", "could", "would", "might", or "will be taken", "occur", or "be
achieved". In particular, this news release contains forward-looking
information with respect to the Credit Agreement, credit facilities
being advanced under the Credit Agreement and the Company's ability to
meet payment and interest obligations. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance or
achievements of Cash Store Financial, to be materially different from
those expressed or implied by such forward-looking information,
including, but not limited to, changes in economic and political
conditions, legislative or regulatory developments, technological
developments, third-party arrangements, competition, litigation, risks
associated with but not limited to, market conditions, and other
factors described under the heading "Risk Factors" in our Annual MD&A,
which is on file with Canadian provincial securities regulatory
authorities, and in our Annual Report on Form 20-F filed with the U.S.
Securities and Exchange Commission. All material assumptions used in
providing forward-looking information are based on management's
knowledge of current business conditions and expectations of future
business conditions and trends, including our knowledge of the current
credit, interest rate and liquidity conditions affecting us and the
general economic conditions in Canada, the United Kingdom and
elsewhere. Although we believe the assumptions used to make such
statements are reasonable at this time and have attempted to identify
in our continuous disclosure documents important factors that could
cause actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. Certain
material factors or assumptions are applied by us in making
forward-looking information, including without limitation, factors and
assumptions regarding our continued ability to fund our payday loan
business, rates of customer defaults, relationships with, and payments
to, third party lenders, demand for our products, our operating cost
structure, current consumer protection regulations, as well as the
ability to meet payments and interest obligations under the Credit
Agreement, relationships with the Lenders and ability to abide by the
terms of the Credit Agreement. There can be no assurance that such
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance on
forward-looking information. We do not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
SOURCE The Cash Store Financial Services Inc.