EDMONTON, March 9 /CNW/ - On February 6, 2007, Rentcash Inc. (the
"Company") received an offer for a majority of the assets of its furniture
rental division. Pursuant to the terms of the Company's license agreement with
The Brick Warehouse LP ("the Brick"), the Brick had a 30 day right of first
refusal on the offer received. The Brick has advised the Company that it will
not be exercising its right of first refusal with respect to this offer.
The Company has received further expressions of interest for the rental
division. The Company is evaluating the current offer received as well as
other options to ensure the achievement of maximum shareholder value. The
rental division continues to be managed toward efficiency gains and improved
financial performance in order to build the division's market value.
Rentcash is the only payday advance broker in Canada publicly traded on
the Toronto Stock Exchange (TSX:RCS). Rentcash operates more than 420 stores
across Canada under three banners: The Cash Store, Instaloans and Instarent.
The Cash Store and Instaloans act as brokers to facilitate payday advance
services to income earning consumers. Instarent rents brand-name furniture,
appliances, electronics and computers, with or without an option to purchase.
Rentcash employs more than 1,800 associates and is headquartered in Edmonton,
For further information:
For further information: Gordon J. Reykdal, Chairman and Chief Executive
Officer, (780) 408-5118; or Darin R. Coutu, Chief Financial Officer, (780)