-- Everyday People Financial (EPF.V) overnight Monday said it received conditional acceptance from the TSX Venture Exchange (TSXV) for the previously announced divestiture of its Financial Services operating entities to FinCard Financial Services Inc., a wholly owned unit of EAM Enterprises.
On March 11, the company had announced the deal, pursuant to which FinCard will buy 100% of the issued and outstanding shares of Everyday People Homes, EP Homes II, EP Travel Card, Everyday People Care, Everyday People Climb Credit, and Everyday People Supply Chain Solutions.
The company said EAM is a private company owned by Carrie Reykdal, the wife of Gordon Reykdal, Executive Chairman of Everyday People Financial. As a result, the deal constitutes a related party transaction and is subject to the requirements of TSX Venture Exchange Policy 5.9.
Everyday People Financial said that it is relying on the exemption from the formal valuation pursuant to MI 61-101 Section 5.5(a) on the basis that the fair market value of the deal nor the consideration to be received by the company, exceeds 25% of its market capitalization. No formal valuation has been prepared in connection with the deal, as a result.
The company will prepare and mail the information circular to shareholders in connection with an annual and special meeting of shareholders, anticipated to be held in mid-July 2026, to be called for the purpose of, among other things, approving the deal and conducting its annual business.
Shares of the company closed unchanged at $0.44 on Monday on the TSXV.