EDMONTON, Aug. 17 /CNW/ - Tomorrow, August 18, 2010, Cash Store Financial (TSX: CSF; NYSE: CSFS) will celebrate its recent listing on the New York Stock Exchange by ringing the bell to open trading. Chairman and CEO, Gordon J. Reykdal, will be joined in the ceremony by members of Cash Store Financial's board of directors, executive officers and senior management team.
Said Mr. Reykdal: "We consider our listing on the New York Stock Exchange to be a significant milestone for our company. It enhances our access to capital and is reflective of our intention to continue our Canadian domestic expansion and to move further into international markets, including the U.K."
Added Mr. Reykdal: "We're not quite 10 years old and we already have over 530 branches in operation. We have proven that there remains significant unsatisfied consumer demand for short term loans and related services. We have a proven business model that enables us to expand rapidly at low cost, while generating continuous dividends for our shareholders. We intend to continue with our expansion program throughout Canada and internationally. The New York listing is part of our overall strategy."
To view a live webcast of the ceremony use the link which will be activated on August 18, 2010, at 9:29 a.m. EST:
An Archive video of the event can be viewed for one year after the event at:
About Cash Store Financial
Cash Store Financial is the only broker of short-term advances and provider of other financial services in Canada publicly traded on the Toronto Stock Exchange (TSX: CSF). The Company also trades on the New York Stock Exchange (NYSE: CSFS). Cash Store Financial operates more than 530 branches across Canada under the banners: The Cash Store and Instaloans. Cash Store Financial also operates two branches in the UK under the banner, The Cash Store.
The Cash Store and Instaloans act as 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.
Cash Store Financial employs approximately 2,000 associates and is headquartered in Edmonton, Alberta.
This News Release contains "forward-looking information" within the meaning of applicable Canadian and United States securities legislation. Forward-looking information includes, but is not limited to, information with respect to our objectives, strategies, operations and financial results, competition as well initiatives to grow revenue or reduce retention payments. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases, or statements 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 statements in connection with the Cash Store Financials goals and strategic priorities, introduction of products, share repurchase initiatives and branch openings. 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 in our Annual Information Form ("AIF") dated August 26, 2009 under the heading "Risk Factors". All material assumptions used in making forward-looking statements 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 Canadian economy. 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 statements, 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 statements, include 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, as well as our operating cost structure and current consumer protection regulations. 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.
For further information: For further information: Gordon J. Reykdal, Chairman and Chief Executive Officer, (780) 408-5118; or, Nancy L. Bland, Chief Financial Officer, (780) 732-5683