goeasy Ltd. Announces Strategic Partnership & Investment in Canada Drives, Canada’s Largest Online Car Buying Platform
Through this new strategic partnership, goeasy’s automotive and point-of-sale financing brand, LendCare, will become a preferred non-bank financing provider within Canada Drives’ online automotive retail platform. Each year in
Concurrent with the strategic partnership, goeasy will acquire a minority equity interest in
“Expanding our automotive financing program is a key strategic growth initiative,” said Jason Mullins, goeasy’s President and Chief Executive Officer, “We are excited about our partnership and investment in
“Our partnership and technology integration with goeasy will further enable us to grow our inventory, enhance our platform, and improve our financing programs for Canadian consumers looking to buy and finance their car online,” said Cody Green, Canada Drives’ Founder and Co-Chief Executive Officer, “As goeasy has proven to be a leader in the consumer lending market, they are an ideal business partner with a common vision for a seamless car buying experience. We also welcome goeasy as a strategic investor in our business and look forward to working with them as a long-term partner.”
goeasy Ltd., a Canadian company, headquartered in Mississauga,
Accredited by the
goeasy Ltd.’s. common shares are listed on the TSX under the trading symbol “GSY”. goeasy is rated BB- with a stable trend from S&P and Ba3 with a stable trend from Moody’s. Visit www.goeasy.com.
About Canada Drives
Canada Drives is the largest 100% online car shopping and to-your-door delivery platform available in
This press release includes forward-looking statements about goeasy and the proposed transactions described herein, including, but not limited to, its business operations, strategy, anticipated relationship with Canada Drives, expected benefits of the strategic partnership with and investment in
Forward-looking statements are based on certain factors and assumptions and are inherently subject to, among other things, risks, uncertainties and assumptions. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those expressed or implied by forward-looking statements made by the Company, due to, but not limited to, developments affecting the Company’s and Canada Drives’ operations, economic factors and the industry generally, as well as those factors referred to in the Company’s most recent Annual Information Form and Management’s Discussion and Analysis, as available on www.sedar.com, in the section entitled “Risk Factors”.
The reader is cautioned to consider these, and other factors carefully and not place undue reliance on forward-looking statements, which may not be appropriate for other purposes. The Company is under no obligation (and expressly disclaims any such obligation) to update or alter the forward-looking statements whether as a result of new information, future events or otherwise, unless required by law.
For further information contact:
President & Chief Executive Officer
Senior Vice President, Chief Corporate Development Officer