GCS Announces Letter of Intent with Everyday People Financial Inc.

For Immediate Release – Vancouver BC: General Credit Services Inc (“GCS” or the “Company”) announces that it has entered into a letter of intent with Everyday People Financial Inc (TSX.V-EPF) (“EPF”) whereas EPF will acquire all issued and outstanding shares of GCS subject to regulatory and client approval.

The expected closing date of this transaction is October 31st, 2022 at which time GCS will become a wholly owned subsidiary of EPF. The Company will continue to carry on business as General Credit Services Inc, and all services will continue as usual – there shall be no change to senior management or to our day-to-day operations.

This new chapter is a very natural progression for both EPF and GCS – committed to growth and continuing our business model of M&A activity combined with organic growth from our existing clients, we all share the same values and commitment to service excellence. Our combined companies will create additional synergies and opportunities within each of our teams and with our unified executive management team focused on core values, we look forward to continuing to deliver our best-in-class service to our clients.

There will be no change to contact phone numbers, email addresses or statement processing throughout the merging of our companies, culture and staff, the GCS corporate offices will continue to be located at our existing head office at Suite 400-1201 West Pender Street, Vancouver, BC, V6E 2V2.

Contact us anytime regarding this announcement by sending an e-mail to TheFuture@generalcsi.com. In addition, Melissa Hobbs our SVP Client Engagement, and her team are available to discuss any questions you may have – please feel free to reach out to her directly by phone at 1-877-588-4274 (ext. 5302) or by e-mail at melissa.hobbs@generalcsi.com. You can also learn more about us and our transition at www.generalcredit.ca.

The full public news release is available at https://www.newsfilecorp.com/release/137542