IOU Financial Responds to Qwave Announcement of Intention to Make an Unsolicited Partial Bid

MONTREAL, June 15, 2015 /CNW Telbec/ – IOU FINANCIAL INC. (“IOU Financial” or the “Company”) (TSXV: IOU), a leading online lender to small businesses, notes the announcement by Qwave Capital LLC (“Qwave”) of its intention to make a formal offer to acquire 30,000,000 outstanding common shares of IOU Financial, representing approximately 55.9% of the outstanding common shares of IOU Financial, for $0.50 per common share.

IOU Financial wishes to highlight that the announcement made by Qwave does not constitute a formal offer to acquire the common shares of IOU Financial but is merely the announcement of an intention to carry out an unsolicited partial bid. There is no assurance that a formal offer will be made by Qwave.

The Board of IOU Financial continues to believe in IOU Financial’s current business plan, which has allowed IOU Financial to rank as the 32nd fastest growing company in Canada on the 2014 PROFIT 500 list, with a five-year revenue growth of 1,924%. This being said, the Board will continue to evaluate opportunities, given the dynamic nature of IOU Financial’s industry, and remains committed to creating significant value for shareholders.

If and when a formal offer is made by Qwave, the Board will further communicate its views to shareholders of IOU Financial by issuing a news release and filing and mailing a circular to them within the statutory time period. In the interim, the Board advises shareholders not to take any action with respect to Qwave’s unsolicited partial bid until the Board and its advisors have evaluated same and the Company’s other alternatives, and the Company has made a statement with respect thereto.

SOURCE IOU FINANCIAL INC.

For further information: Philippe Marleau, Chief Executive Officer, (514) 789-0694 ext. 225