IOU Financial Provides Additional Details Regarding Its Previously – Announced Private Placement

MONTRÉAL, Québec, July 6, 2015 –IOU Financial Inc. (TSX Venture Exchange: IOU) (“IOU Financial” or the “Company”). Pursuant to the Press Release dated June 19, 2015, IOU Financial, a leading online lender to small businesses, wishes to provide further details regarding its previously announced private placement for gross proceeds of $3,118,000.

As previously announced on June 19, 2015, a syndicate of agents (the “Agents”) led by Haywood Securities Inc. and including Cormark Securities Inc. completed an offering (the “Offering”) of 7,795,000 common shares (the “Common Shares”) at a price of $0.40 per Common Share (the “Offer Price”).

As compensation for their services in connection with the Offering, IOU Financial has paid to the Agents a cash commission equal to 7% of the gross proceeds of the Offering, other than in respect to 1,250,000 Common Shares sold to a related party of the Company (for which a 5% commission fee was paid), and it has issued to the Agents an aggregate of 545,650 compensation options, each such option entitling the holder thereof to purchase one Common Share at the Offering Price until June 19, 2017.

All securities issued at the closing of the Offering (including underlying securities) are subject to a hold period under applicable Canadian securities legislation and the policies of the TSX Venture Exchange (the “TSX-V”), which expires on October 20, 2015.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.