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The Cash Store Financial Services Inc. - Status Updates

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May 18, 2016

On May 18, 2016, 1511419 Ontario Inc., formally known as The Cash Store Financial Services Inc. and applicants announced that it has obtained an Order from the Ontario Superior Court of Justice granting a stay extension under its current CCAA proceedings up to and including November 18, 2016.


January 4, 2016

On January 4, 2016, 1511419 Ontario Inc., formally known as The Cash Store Financial Services Inc. and applicants announced that it has successfully implemented its Plan of Compromise and Arrangement pursuant to the Companies' Creditors Arrangement Act with an implementation date of December 31, 2015.


November 19 2015

On November 19, 2015, 1511419 Ontario Inc., formally known as The Cash Store Financial Services Inc. and applicants announced that it has obtained an Order from the Ontario Superior Court of Justice granting a stay extension under its current CCAA proceedings up to and including May 20, 2016.


August 27 2015

On August 27, 2015, 1511419 Ontario Inc., formally known as The Cash Store Financial Services Inc. and applicants announced that it has obtained an Order from the Ontario Superior Court of Justice granting a stay extension under its current CCAA proceedings up to and including November 20, 2015.


May 20 2015

On May 20, 2015, 1511419 Ontario Inc., formally known as The Cash Store Financial Services Inc. and applicants announced that it has obtained an Order from the Ontario Superior Court of Justice granting a stay extension under its current CCAA proceedings to September 18, 2015.


March 2 2015

On March 2, 2015, The Cash Store Financial Services Inc. announced that it has obtained an Order from the Ontario Superior Court of Justice granting a stay extension under its current CCAA proceedings to June 1, 2015.


February 9, 2015

On February 9, 2015, The Cash Store Financial Services Inc. that it has completed the sale of lease rights and obligations for 45 retail locations across Canada, together with certain related assets at those locations, to easyfinancial Services Inc., a subsidiary of easyhome Ltd. The Transaction was previously announced on January 19, 2015.


February 6, 2015

On February 6, 2015, The Cash Store Financial Services Inc. announced that it has completed the sale of 150 branches operated by the Company and its subsidiaries, and a number of other assets, to National Money Mart Company. The Transaction was previously announced on October 9, 2014.


January 19, 2015

On January 19, 2015 The Cash Store Financial Services Inc. announced that it has entered into a binding Asset Purchase Agreement (the "Agreement") to sell the lease rights and obligations for up to 47 of its locations and certain associated assets to easyhome Ltd. (the "Transaction"). easyhome submitted its proposal in accordance with Cash Store Financial's Court-approved Secondary Sale Process under the Companies' Creditors Arrangement Act.

The Agreement and completion of the Transaction remain subject to Court approval in Canada and the satisfaction of certain closing conditions customary to transactions of this nature. The current expectation is that the Transaction will be completed within the first quarter of 2015, following court and regulatory approval.


January 9, 2015

On January 9, 2014 The Cash Store Financial Services Inc. announced that the Canadian Competition Bureau has issued a No-Action Letter regarding the binding agreement (the "Agreement") for Cash Store Financial to sell a portion of its business and assets (the "Transaction") to National Money Mart Company, as announced on October 9, 2014. This satisfies one of the conditions to closing the Agreement. The current expectation remains that the Transaction will be completed in early 2015, following satisfaction of certain customary closing conditions. Cash Store Financial will continue to provide updates as the Transaction is finalized. In the interim, the Company will continue to operate its business as usual.


November 24, 2014

On November 24, 2014 The Cash Store Financial Services Inc. announced that it has obtained an Order from the Ontario Superior Court of Justice granting a stay extension under its current CCAA proceedings to February 27, 2015.

The Court also authorized the Company and its subsidiaries to enter into the Third Amending Agreement to the Amended and Restated Debtor-in-Possession Term Sheet ("Third Amended DIP Facility") pursuant to which an additional loan in the aggregate amount of $7 million will be available to the Company.


October 9, 2014

On October 9, 2014 The Cash Store Financial Services Inc. announced today that it has entered into a binding agreement (the "Agreement") to sell a portion of its business and assets (the "Transaction") to National Money Mart Company ("Money Mart").

Money Mart submitted its proposal in accordance with Cash Store Financial's Court-approved sale process under the Companies' Creditors Arrangement Act (the "Sale Process").

The Agreement and the completion of the Transaction remain subject to Court approval in Canada, certain regulatory approvals and the satisfaction of certain closing conditions customary to transactions of this nature.

The current expectation is that the transaction will be completed by late 2014 or early 2015, following court and regulatory approval. Cash Store Financial will provide further updates on the process in due course as the necessary approvals are obtained and the Transaction is finalized. In the interim, Cash Store will continue to operate its business as usual.


September 29, 2014

On September 29, 2014 the Ontario Superior Court of Justice approved an Order granting an extension of the Stay Period under the CCAA Proceedings up to and including November 28, 2014. The Court also authorized the Company and its subsidiaries to enter into a further amendment to its amended and restated debtor-in-possession financing agreement ('Further Amended DIP Agreement') pursuant to which an additional loan in the aggregate amount of $5 million will be available to the Company. In addition the Further Amended DIP Agreement permits the Company to use $1.3 million of tax refunds to fund operations.


August 12, 2014

On August 12, 2014 the Ontario Superior Court of Justice approved an Order granting an extension of the Stay Period under the CCAA Proceedings up to and including September 30, 2014. The Court also authorized the Company and its subsidiaries to enter into an amendment to its amended and restated debtor-in-possession ('DIP') financing agreement ('Further Amended DIP Agreement') pursuant to which an aggregate amount of up to $5 million will be available to the Company.


June 17, 2014

On June 17, 2014, the Ontario Superior Court of Justice approved an Order granting an extension of the Stay Period under the CCAA Proceedings up to and including August 15, 2014.


May 17, 2014

On May 17, 2014, the Ontario Superior Court of Justice approved an Order granting an extension of the Stay Period under the CCAA Proceedings up to and including June 17, 2014.


April 16, 2014

On April 16, 2014, the Ontario Superior Court of Justice (Commercial List) (the "Court") has granted an amended Order with respect to the Company's application for creditor protection under the CCAA. The Court and the Cash Store Financial board of directors have also authorized the Company and its subsidiaries to enter into a debtor-in-possession ("DIP") financing agreement pursuant to which $8.5 million will be available to the Company to enable the Company and its affiliates to continue operations during the CCAA proceedings, with an option, subject to Court approval, to increase the amount of such DIP financing up to a total of $20.5 million. The Company has entered into a DIP financing agreement on the approved terms.


April 14, 2014

On April 14, 2014, The Cash Store Financial Services Inc., The Cash Store Inc., TCS Cash Store Inc., Instaloans Inc., 7252331 Canada Inc., 5515433 Manitoba Inc., 1693926 Alberta Ltd. doing business as "The Title Store". (each one and all of the above , collectively, the "Applicants") obtained an Initial Order (the "Initial Order") under the Companies' Creditors Arrangement Act (the "CCAA"). The Applicants sought and were granted the stay of proceedings and other relief provided under the CCAA. Pursuant to the Initial Order, FTI Consulting ("FTI" or the "Monitor") has been appointed Monitor


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The Cash Store Financial Services Inc.