CSFSF Cash Store Financial Services Inc (CE)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

 

 

FORM 6-K

 

 

REPORT OF FOREGIN PRIVATE ISSUER

 

PURSUANT TO RULE 13A-16 OR 15D-16 OF

THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of September, 2014

 

Commission File Number: 001-34760

 

 

THE CASH STORE FINANCIAL SERVICES INC. 

(Translation of registrant's name into English)

 

 

15511-123 Avenue

Edmonton, Alberta, Canada T5V 0C3 

(Address of principal executive office)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

 

Form 20-F   þ

Form 40-F  £

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): o

 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): o

 

 

 

 

 DISCLAIMER

 

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.

 

  

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

 

	THE CASH STORE FINANCIAL SERVICES INC.
Date: September 30, 2014
	By:	/s/ Craig Warnock
		Craig Warnock Chief Financial Officer

 

 

 

             

EXHIBIT INDEX

 

 

Exhibit		Description of Exhibit
99.1		News Release Dated September 30, 2014 - Cash Store Financial Obtains Stay Extension and Additional DIP Financing

 

 

Exhibit 99.1

 

Cash Store Financial Obtains Stay Extension and Additional DIP Financing

EDMONTON, Sept. 30, 2014 /CNW/ - The Cash Store Financial Services Inc. ("Cash Store Financial" or the "Company") announces that it has obtained an order from the Ontario Superior Court of Justice (Commercial List) ("the Court") granting a stay extension under its current Companies' Creditors Arrangement Act ("CCAA") proceedings to November 28, 2014.

The Court also authorized the Company and its subsidiaries to enter into a further amendment to its amended and restated debtor-in-possession ("DIP") financing agreement ("Further Amended DIP Agreement") pursuant to which an additional loan in the aggregate amount of $5 million will be available to the Company. In addition, the Further Amended DIP Agreement permits the Company to use $1.3 million of tax refunds to fund operations, rather than to make an immediate repayment to the DIP lenders. The amounts made available under the Further Amended DIP Facility are required in order to continue going concern operations and attempt to complete a sale of the Company's business pursuant to the Court-approved Sale Process, under which prospective purchasers have had the opportunity to submit a bid for the Company's property.

Discussions and negotiations with potential bidders are ongoing under the Sales Process. The Further Amended DIP Agreement will provide the necessary liquidity throughout the stay extension to continue to negotiate a sale transaction to achieve a value maximizing going concern outcome.

The Court also today approved the Ninth Report of the Monitor, FTI Consulting Canada Inc., dated August 6, 2014. A copy of this report, as well as other orders of the Court, including details on the sales process, as well as other details regarding the Company's CCAA proceedings is available on the Monitor's website at http://cfcanada.fticonsulting.com/cashstorefinancial.

Cash Store Financial remains open for business and will continue to provide updates on its restructuring and the Cash Store Sale Process as matters advance.

About Cash Store Financial

Cash Store Financial and Instaloans primarily act as lenders 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 private-label debit cards.

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.

Forward Looking Statements:
This news release contains certain forward-looking statements about the objectives, strategies, financial conditions, results of operations and businesses of Cash Store Financial. Statements that are not historical facts are forward-looking and are subject to important risks, uncertainties and assumptions.  These statements are based on our current expectations about our business, and upon various estimates and assumptions.  The results or events predicted in these forward-looking statements may differ materially from actual results or events if known or unknown risks, trends or uncertainties affect our business, or if our estimates or assumptions turn out to be inaccurate.  As a result, there is no assurance that the circumstances described in any forward-looking statement will materialize.  Significant and reasonably foreseeable factors that could cause our results to differ materially from our current expectations, include, but are not limited to, any decision of the Ontario Superior Court of Justice in the CCAA proceedings that is adverse to Cash Store Financial, the inability of Cash Store Financial to fulfill the conditions to funding under any Debtor-in-Possession ("DIP") financing agreement entered into by Cash Store Financial, and other factors that could affect Cash Store Financial's ability to continue its operations during the CCAA proceeding, including the factors that are discussed in the section entitled "Risk Factors" contained in our Annual Information Form for the year ended September 30, 2013 dated December 11, 2013 filed by The Cash Store Financial with the Canadian securities commissions (available on SEDAR at http://www.sedar.com), as updated in our most recent Management's Discussion and Analysis for the three months ended December 31, 2013. Unless required by law, we disclaim any intention or obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.

SOURCE The Cash Store Financial Services Inc.

 

%CIK: 0001490658

 

For further information: William Aziz, Chief Restructuring Officer, baziz@bluetreeadvisors.com; Media: Joel Shaffer, Longview Communications, 416-649-8006

CO: The Cash Store Financial Services Inc.

CNW 19:40e 30-SEP-14