Edmonton, Alberta–(Newsfile Corp. – November 1, 2023) – Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) (“Everyday People” or the “Company“), a Canadian-based revenue cycle management (“RCM“) consolidator and financial service provider, is pleased to announce that its wholly-owned subsidiary, BPO Collections Limited (“BPO“), has closed the previously announced (the “Acquisition“) of Arvato Financial Solutions Limited (“AFS UK“), pursuant to a definitive share purchase agreement dated October 2, 2023 (the “Purchase Agreement“).

AFS UK is a provider of accounts receivable management services in the United Kingdom (“UK“). AFS UK primarily focuses on providing financial and collection management services in the regulated environment overseen by the UK’s Financial Conduct Authority (“FCA“). AFS UK caters to major creditors operating within the financial services, utilities, telecommunications, and debt purchase sectors.

“Graham Rankin, Co-CEO Revenue Cycle Management of Everyday People, is excited with the opportunities this acquisition brings to our group and looks forward to welcoming Debbie Nolan, Managing Director of Arvato and leading industry expert, into the EP Family.”

Details of the Acquisition

Pursuant to the terms of the Purchase Agreement, BPO has acquired 100% of the issued and outstanding shares in the capital of AFS UK, a wholly owned company of Arvato Group, on a debt-free basis. The Acquisition is an arm’s-length transaction, and the Company will not assume any debt. No finder’s fee was paid in connection with the Acquisition.

This transaction is considered not material, does not involve the issuance of Everyday People securities, and does not constitute a fundamental acquisition, and meets other criteria of an “Exempt Transaction” under TSX-V Policy 5.3. The completion of this Acquisition was subject to conditions customary for transactions of this nature, including, but not limited to, the receipt of all requisite third party and regulatory approvals, including the acceptance of the FCA in the UK which the Company received.

About Everyday People Financial Corp.

Everyday People is a revenue cycle management consolidator founded on the belief that everyone deserves a second chance to reestablish and build credit and have access to affordable credit options. We are headquartered in Edmonton, Alberta Canada with operations in Canada and the UK. We are changing the way revenue cycle management agencies work by enhancing our client services with affordable financial products and literacy programs. Utilizing our own specialized credit facilitation products, we’re helping debtors rebuild their financial health and generational wealth.

For more information visit: www.everydaypeoplefinancial.com.

Source: EPFinancial.ca