Equity Financial Holdings Inc. Retains National Bank Financial as Financial Advisor

TORONTO, Nov. 10, 2017 /CNW/ - Equity Financial Holdings Inc. (TSX: EQI) ("Equity" or the "Corporation") announced today that the special committee of the board of directors of Equity has retained National Bank Financial Inc. as its independent financial advisor to seek out acquisition proposals in accordance with the go-shop provisions of the arrangement agreement between Equity and Smoothwater Capital Corporation ("Smoothwater").

As previously announced on October 30, 2017, Equity has entered into a definitive arrangement agreement (the "Arrangement Agreement") with Smoothwater pursuant to which Smoothwater has agreed to acquire all of the issued and outstanding shares of Equity (the "Shares"), other than Shares already owned or controlled by Smoothwater, its officers, and by certain other shareholders who have agreed to remain as continuing shareholders, by way of a plan of arrangement (the "Arrangement"). Under the terms of the Arrangement Agreement, Equity is entitled to actively solicit inquiries or proposals regarding, constituting or which may reasonably be expected to constitute a superior proposal from third parties for a period ending on the date that is four business days before the date of the special meeting of shareholders called to approve the Arrangement, which is anticipated to be held on December 18, 2017.

There can be no assurance that Equity will be able to identify any third parties willing to pursue a superior proposal, nor can there be any assurance that Equity will be able to complete any alternative transaction.

Forward Looking Information

Certain portions of this press release contain "forward-looking information" within the meaning of applicable Canadian securities legislation, which is also referred to as "forward-looking statements", which may not be based on historical fact. Wherever possible, words such as "will", "plans," "expects," "targets," "continues", "estimates," "scheduled," "anticipates," "believes," "intends," "may," "could," "would" or might, and the negative of such expressions or statements that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved, have been used to identify forward looking information. Such forward-looking statements include, without limitation, the anticipated date of the meeting of shareholders to approve the Arrangement, the ability of Equity to solicit inquiries or proposals regarding, constituting or which may reasonably be expected to constitute a superior proposal from third parties or to complete an alternative transaction and other factors. Forward looking statements should not be read as guarantees of future events, future performance or results, and will not necessarily be accurate indicators of the times at, or by which, such events, performance or results will be achieved, if achieved at all.  Readers should not place undue reliance on such forward-looking statements, as they reflect Equity's current views with respect to future events and are subject to risks and uncertainties and are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Equity, are inherently subject to significant business, economic, regulatory, competitive, political and social uncertainties and contingencies. Many factors could cause Equity's actual results, performance or achievements to be materially different from any future results, performance, or achievements that may be expressed or implied by such forward-looking statements, including among others, failure to satisfy one of more of the conditions precedent of the Arrangement Agreement or to complete the Arrangement, failure to obtain any of the required regulatory, court or Shareholder approvals, the Arrangement Agreement being terminated, modified or amended, the anticipated benefits of the Arrangement changing and the meeting of the Shareholders not being held at the anticipated time. The preceding list is not exhaustive of possible factors. The Corporation disclaims any intent or obligation to update or revise publicly any forward-looking statements whether as a result of new information, estimates, future events or results, or otherwise, unless required to do so by applicable laws. The forward looking statements contained herein are expressly qualified in their entirety by this cautionary statement.

About Equity Financial Holdings Inc.

Equity is a financial services company operating through its wholly‐owned subsidiary, Equity Trust, a federally regulated deposit‐taking trust company. Equity Trust serves the Canadian mortgage market by offering residential first mortgage loans to non‐prime and near‐prime customers who do not meet the conventional underwriting standards of the major Canadian banks. Learn more at www.equityfinancialtrust.com.

SOURCE Equity Financial Holdings Inc.

Equity Financial Holdings Inc., Michael R. Jones, President & CEO, 647.277.0106, www.equityfinancialtrust.com; Josh Reusing, CFO, 416.348.7919, www.equityfinancialtrust.com