Exhibit 99.1
FORM 51-102F3
MATERIAL CHANGE REPORT
| Item 1 | | Name and Address of Company |
The Cash Store Financial Services Inc. (“Cash Store Financial” or the “Company”)
15511-123 Avenue
Edmonton, AB
T5V 0C3
| Item 2 | | Date of Material Change |
April 16, 2014
The news release with respect to the material change referred to in this report was disseminated via Canada Newswire on April 14, 2014 and filed on the system for electronic document analysis and retrieval (SEDAR).
| Item 4 | | Summary of Material Change |
Cash Store Financial to Seek Creditor Protection and Reaches Agreement for DIP Financing
| Item 5.1 | | Full Description of Material Change |
See attached Schedule “A”.
| Item 5.2 | | Disclosure for Restructuring Transactions |
Not Applicable
| Item 6 | | Reliance on subsection 7.1(2) or (3) of National Instrument 51-102 |
Not Applicable
| Item 7 | | Omitted Information |
Not Applicable
| Item 8 | | Executive Officers |
Gordon Reykdal, CEO, at 780-408-5118 or
Craig Warnock, CFO, at 780-732-5683
April 16, 2014
SCHEDULE “A”
NEWSRELEASE
April14, 2014
Cash Store Financialto Seek Creditor Protection and ReachesAgreementfor DIP Financing
EDMONTON,April 14, 2014– The Cash Store Financial Services Inc. (“Cash Store Financial”orthe“Company”) announced todaythat the Company’s board of directors has voted to authorize the Company and its subsidiaries to bring an application in the Ontario Superior Court of Justice to seekprotection from creditorsunderthe Companies’CreditorsArrangementAct(“CCAA”). Cash Store Financial’s board of directors has also authorized the Company and its subsidiaries to enter intoa debtor-in-possession(“DIP”)financingagreement pursuant to whichupto$20.5million will be available to the Company toenable the Company and its affiliates to continue operations during the CCAA proceedings.
Protectionunderthe CCAAand the financing available under the DIP financing agreement will provide Cash Store Financialwith thetimeandstabilitytoattempt torestructure its affairs under the CCAA. The CCAA protections and the DIP financing agreement are subject to approval by theOntario Superior Court of Justice. Cash Store Financial will provide a further update on these matters once more information is available.
The Company will remain open for business during the CCAA proceeding, its branches will continue to operate and daily lending will not be affected.
ForwardLooking Statements:
Thisnewsreleasecontainscertainforward-lookingstatementsabouttheobjectives, strategies,financial conditions,resultsof operationsandbusinessesofCash Store Financial.Statementsthat arenot historicalfactsareforward-looking andaresubjectto importantrisks, uncertaintiesandassumptions.Thesestatementsarebasedonourcurrentexpectations aboutourbusiness,anduponvariousestimatesand assumptions.Theresultsor eventspredicted inthese forward-looking statementsmaydiffermaterially fromactualresultsoreventsifknownorunknownrisks,trendsoruncertainties affectourbusiness, orif ourestimatesorassumptions turnouttobeinaccurate.Asaresult,there isnoassurancethatthecircumstancesdescribedinanyforward-lookingstatementwillmaterialize.Significantand reasonablyforeseeable factorsthatcouldcauseourresultsto differmateriallyfromour currentexpectations, include, but are not limited to, a decision of the Ontario Superior Court of Justice not to grant the relief sought by Cash Store Financial, the inability of Cash Store Financial to fulfill the conditions to funding under the DIP financing agreement, and other factors that could affect Cash Store Financial’s ability to continue its operations during the CCAA proceeding, including the factors thatarediscussedinthesectionentitled "Risk Factors" containedinourAnnualInformationFormfortheyear ended September 30, 2013datedDecember 11, 2013filedbyThe Cash Store Financial Services Inc.with theCanadian securitiescommissions (availableonSEDAR atwww.sedar.com), asupdatedinourmostrecentManagement's DiscussionandAnalysisforthethreemonthsendedDecember 31, 2013.Unless requiredbylaw,wedisclaim anyintentionor obligationtoupdateany forward-looking statement even ifnewinformationbecomesavailable,asaresultoffutureeventsorfor any otherreason.
AboutCash 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 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.
For further information, please contact:
Gordon Reykdal, CEO, at 780-408-5118,
Craig Warnock, CFO, at 780-732-5683, or
Peter Block, NATIONAL Public Relations, 416-848-1431
