Latest news with #EverydayPeople
Yahoo
11-07-2025
- Business
- Yahoo
Everyday People Financial Corp. Completes Strategic Transition to Fee-for-Service Model with Sale of Legacy Home Inventory
Edmonton, Alberta--(Newsfile Corp. - July 11, 2025) - Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) ("Everyday People" or the "Company"), a technology-driven financial services provider, headquartered in Edmonton, Alberta, is pleased to announce the successful sale of its remaining EP Homes inventory to EAM Enterprises Inc. ("EAM") on June 30, 2025, completing its multi-year strategy to exit non-core operations and fully transition to a fee-for-service business model. Under the terms of the transaction, EAM acquired the Company's outstanding home inventory for $3,954,959, representing a premium to the book value of $3,732,806, and generating a gain on sale of approximately $222,153. Proceeds from the sale were used to fully retire $3,031,378 in legacy housing-related debt, which carried annual interest rates ranging from 5.74% to 13.5%. "This transaction is both financially and strategically significant," said Gordon Reykdal, Executive Chairman of Everyday People. "It removes the last vestiges of the legacy EP Homes program, strengthens our balance sheet, eliminates high-cost debt, and allows us to focus exclusively on scaling our two core platforms in Revenue Cycle Management and digital EP Financial Services Pillars." The sale also eliminates the Company's exposure to real estate credit risk and capital-intensive assets, in line with its strategic shift toward high-margin, technology-enabled, fee-for-service solutions. "This is a pivotal step forward," added Tyler Hatch, Co-CEO of the Company's Financial Services division. "Our goal has always been to build a scalable, compliant, and capital-light platform. With this transaction, we are now positioned to reinvest fully into our core businesses and pursue growth opportunities without the drag of non-core assets." The Company will report the gain on sale in its upcoming financial statements and expects the transaction to improve key financial metrics, including debt-to-equity ratio, interest expense, and operating margin. Related Party Transaction Disclosure The purchaser, EAM, is a private company wholly owned by Carrie Reykdal, the spouse of Gordon Reykdal, who is the Executive Chairman and a director of the Company. Accordingly, the sale of the remaining EP Homes inventory (the "Transaction") to EAM constitutes a "related party transaction" under TSX Venture Exchange ("TSXV") Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a), respectively, as the fair market value of the subject matter of, nor the fair market value of the consideration for, the Transaction does not exceed 25% of the Company's market capitalization, however, the Company voluntarily obtained independent appraisals on the EP Homes inventory to support the fairness of the Transaction. In addition, shareholder approval is not required under TSXV Policy 5.3 Acquisitions and Dispositions of Non-Cash Assets, as the Transaction does not exceed the thresholds set out therein that would trigger a requirement for disinterested shareholder approval. The Company's board of directors consists of a majority of independent directors who have approved the Transaction. Everyday People Financial Services Everyone deserves access to responsible credit. EP Financial Services ("EPFS") operates on a fee-for-service model, generating revenue from financial services and card fees. As a credit facilitator and program manager, EPFS helps businesses and government agencies coordinate with card networks, credit bureaus, and banks to implement customized payment card and credit access programs. Additionally, EPFS offers its own unique B2C card and credit access programs. Our financial products and services are meticulously crafted and frequently tailored to meet the unique needs of our clients who are serving everyday people, everyday. Our customer support is bolstered by the collective 75 years of experience and advanced technology from our RCM division. This fusion of expertise allows EPFS to enhance access to responsible credit, promote financial wellness, facilitate homeownership, enable efficient health spending, streamline procurement and support supply chains across Canada, the United Kingdom and the United States. About Everyday People Financial Corp. Everyday People Financial Corp. is a technology-driven financial services company with a mission to help individuals and businesses manage money better. First established in 1988, we have a workforce of over 625 people operating in the United Kingdom and Canada providing fully fee-for-service solutions across two business pillars operating in Canada and the United Kingdom. Revenue Cycle Management (RCM), which helps organizations recover receivables and streamline billing processes without purchasing consumer debt, and Financial Services, which provides digital tools and credit access programs that support Canadians on their financial journey, all without lending money. Founded on the belief that everyone deserves a second chance to rebuild financial health and wealth, the Company is committed to providing affordable, innovative, and responsible financial solutions that create lasting value for our clients, customers, and shareholders. We are changing the way people manage money by enhancing our client and consumer services with our own affordability assessment programs with specialized financial products and literacy programs. We're helping everyday people rebuild their financial health for generational wealth. We stand for creativity and entrepreneurship. Our combination of companies, products and services has been established to ensure we can fulfill consumers' financial needs and service them in a low-cost and effective manner. For more information visit: Contact Gordon ReykdalExecutive Chairman of Everyday People Financial Corp. Tyler HatchCo-CEO, Financial Services of Everyday People Financial Corp. letsconnect@ 888 825 9808 (Press Option 2 for Investor and Media Relations) Cautionary Note Regarding Forward-Looking Statements This news release includes certain "forward-looking statements" or "forward-looking information" (collectively referred to hereafter as "forward-looking statements") under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to financial performance and key financial metrics, results of operations, integration of the acquired businesses, and the business, plans, strategy and operations of the Company. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, expectations and assumptions concerning the Company and the acquired businesses as well as other risks and uncertainties, including those described in the documents filed by the Company on SEDAR+ at There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit
Globe and Mail
11-07-2025
- Business
- Globe and Mail
Everyday People Financial Corp. Completes Strategic Transition to Fee-for-Service Model with Sale of Legacy Home Inventory
Edmonton, Alberta--(Newsfile Corp. - July 11, 2025) - Everyday People Financial Corp. (TSXV: EPF) (OTCQB: EPFCF) (" Everyday People" or the " Company"), a technology-driven financial services provider, headquartered in Edmonton, Alberta, is pleased to announce the successful sale of its remaining EP Homes inventory to EAM Enterprises Inc. (" EAM") on June 30, 2025, completing its multi-year strategy to exit non-core operations and fully transition to a fee-for-service business model. Under the terms of the transaction, EAM acquired the Company's outstanding home inventory for $3,954,959, representing a premium to the book value of $3,732,806, and generating a gain on sale of approximately $222,153. Proceeds from the sale were used to fully retire $3,031,378 in legacy housing-related debt, which carried annual interest rates ranging from 5.74% to 13.5%. "This transaction is both financially and strategically significant," said Gordon Reykdal, Executive Chairman of Everyday People. "It removes the last vestiges of the legacy EP Homes program, strengthens our balance sheet, eliminates high-cost debt, and allows us to focus exclusively on scaling our two core platforms in Revenue Cycle Management and digital EP Financial Services Pillars." The sale also eliminates the Company's exposure to real estate credit risk and capital-intensive assets, in line with its strategic shift toward high-margin, technology-enabled, fee-for-service solutions. "This is a pivotal step forward," added Tyler Hatch, Co-CEO of the Company's Financial Services division. "Our goal has always been to build a scalable, compliant, and capital-light platform. With this transaction, we are now positioned to reinvest fully into our core businesses and pursue growth opportunities without the drag of non-core assets." The Company will report the gain on sale in its upcoming financial statements and expects the transaction to improve key financial metrics, including debt-to-equity ratio, interest expense, and operating margin. Related Party Transaction Disclosure The purchaser, EAM, is a private company wholly owned by Carrie Reykdal, the spouse of Gordon Reykdal, who is the Executive Chairman and a director of the Company. Accordingly, the sale of the remaining EP Homes inventory (the " Transaction") to EAM constitutes a "related party transaction" under TSX Venture Exchange (" TSXV") Policy 5.9 and Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to sections 5.5(a) and 5.7(1)(a), respectively, as the fair market value of the subject matter of, nor the fair market value of the consideration for, the Transaction does not exceed 25% of the Company's market capitalization, however, the Company voluntarily obtained independent appraisals on the EP Homes inventory to support the fairness of the Transaction. In addition, shareholder approval is not required under TSXV Policy 5.3 Acquisitions and Dispositions of Non-Cash Assets, as the Transaction does not exceed the thresholds set out therein that would trigger a requirement for disinterested shareholder approval. The Company's board of directors consists of a majority of independent directors who have approved the Transaction. Everyday People Financial Services Everyone deserves access to responsible credit. EP Financial Services (" EPFS") operates on a fee-for-service model, generating revenue from financial services and card fees. As a credit facilitator and program manager, EPFS helps businesses and government agencies coordinate with card networks, credit bureaus, and banks to implement customized payment card and credit access programs. Additionally, EPFS offers its own unique B2C card and credit access programs. Our financial products and services are meticulously crafted and frequently tailored to meet the unique needs of our clients who are serving everyday people, everyday. Our customer support is bolstered by the collective 75 years of experience and advanced technology from our RCM division. This fusion of expertise allows EPFS to enhance access to responsible credit, promote financial wellness, facilitate homeownership, enable efficient health spending, streamline procurement and support supply chains across Canada, the United Kingdom and the United States. About Everyday People Financial Corp. Everyday People Financial Corp. is a technology-driven financial services company with a mission to help individuals and businesses manage money better. First established in 1988, we have a workforce of over 625 people operating in the United Kingdom and Canada providing fully fee-for-service solutions across two business pillars operating in Canada and the United Kingdom. Revenue Cycle Management (RCM), which helps organizations recover receivables and streamline billing processes without purchasing consumer debt, and Financial Services, which provides digital tools and credit access programs that support Canadians on their financial journey, all without lending money. Founded on the belief that everyone deserves a second chance to rebuild financial health and wealth, the Company is committed to providing affordable, innovative, and responsible financial solutions that create lasting value for our clients, customers, and shareholders. We are changing the way people manage money by enhancing our client and consumer services with our own affordability assessment programs with specialized financial products and literacy programs. We're helping everyday people rebuild their financial health for generational wealth. We stand for creativity and entrepreneurship. Our combination of companies, products and services has been established to ensure we can fulfill consumers' financial needs and service them in a low-cost and effective manner. For more information visit: Cautionary Note Regarding Forward-Looking Statements This news release includes certain "forward-looking statements" or "forward-looking information" (collectively referred to hereafter as "forward-looking statements") under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to financial performance and key financial metrics, results of operations, integration of the acquired businesses, and the business, plans, strategy and operations of the Company. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, expectations and assumptions concerning the Company and the acquired businesses as well as other risks and uncertainties, including those described in the documents filed by the Company on SEDAR+ at There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
New York Post
13-06-2025
- Entertainment
- New York Post
Nile Rodgers recalls becoming 'really close' with the late Sly Stone
It takes one music icon to know one. Nile Rodgers, the legendary producer and Chic bandleader, worshiped Sly Stone long before he became friends with the funk pioneer, who passed away at 82 on Monday, June 9. And he has the receipts to prove it. 5 Songwriters Hall of Fame chairman Nile Rodgers helped welcome the class of 2025 on Thursday night. Getty Images for Songwriters Hall Of Fame 5 Sly Stone was the genius behind Sly & the Family Stone classics such as 'Everyday People' and 'Family Affair.' Getty Images for Songwriters Hall Of Fame 'I still to this day have my ticket [from when] I saw Sly & the Family Stone at the Schaefer Music Festival in Central Park,' Rodgers, 72, exclusively told The Post on the red carpet of the Songwriters Hall of Fame induction ceremony on Thursday at NYC's Marriott Marquis. 'Check this out — the price of the ticket? One dollar. General admission was one dollar. I still have it. It was that great of a day to me,' he said. And that's not the only way that Stone took a young Rodgers higher. 'I remember when he released, I don't know if it was the second album or the first album, I remember going to my friend's house — he was the only one who could afford the album — and we all sat around smoking hash and listening to the record all day,' he recalled. 5 Jimmy Jam (left) and Nile Rodgers joined Songwriters Hall of Fame president/CEO Linda Moran on the red carpet. Redferns As fate would have it, the Songwriters Hall of Fame chairman would end up meeting and bonding with the genius behind Sly & the Family hits such as 'Dance to the Music,' Everyday People,' and 'Family Affair.' 'Later on in life, I became friends with Sly in California. It was really sad for me because he was living in a car,' he said. 'So every night we would meet at the China Club when it moved to Los Angeles, and we would talk, and for some reason, we became really close.' In fact, Stone asked Rodgers to be the music director for the Sly & the Family Stone tribute at the 2006 Grammys that included Maroon 5, John Legend, Steven Tyler and Joss Stone — as well as a brief appearance by the funk god himself. 5 With Sly & the Family Stone, Nile Rodgers said that the late Sly Stone 'changed music.' Redferns Another legendary producer, Jimmy Jam, recalled sampling Sly & the Family Stone's 1970 chart-topper 'Thank You (Falettinme Be Mice Elf Agin)' on Janet Jackson's 1989 hit 'Rhythm Nation.' 'I don't think people really put that together,' he told The Post. 'For me, it was so obvious that it's Sly. But he was a tremendous influence, [and] still continues to be. His music is singular. 'And his influence [was] not only me but certainly on Prince in the way that he made his band up — like, it was multiracial, multi-gender,' said the former Prince protégé. 'All of that came from Sly.' 5 Sly Stone of Sly And The Family Stone performs on stage in London on July 15, 1973. Getty Images Stone's impact on Rodgers was formative, too. 'Honestly, to me, Sly is on the same level as [John] Coltrane, Miles [Davis], Charlie Parker, Nina Simone, all the people I grew up with. Sly was my R&B example of that,' he said. Indeed, with Sly & the Family Stone, Rodgers said that Stone 'changed music.' 'They changed the way that America saw black musicians,' he said. 'They changed everything.'
Yahoo
13-06-2025
- Entertainment
- Yahoo
Funk-rock music pioneer, frontman of revolutionary band dies at 82
Sly Stone, the frontman of the revolutionary band Sly and the Family Stone, has died following several health issues. He was 82. 'It is with profound sadness that we announce the passing of our beloved dad, Sly Stone of Sly and the Family Stone,' his family said in a statement, according to PEOPLE. 'After a prolonged battle with COPD and other underlying health issues, Sly passed away peacefully, surrounded by his three children, his closest friend, and his extended family,' the statement continued. 'While we mourn his absence, we take solace in knowing that his extraordinary musical legacy will continue to resonate and inspire for generations to come.' Born March 15, 1943, in Denton, Texas, Stone helped pioneer the emerging psychedelic soul movement in the 1960s and '70s with his genre-blending group. Sly and the Family Stone is considered rock's first group to incorporate the sounds of funk, soul, R&B, rock and psychedelic music. 'James Brown may have invented funk, but Sly Stone perfected it,' AllMusic wrote. 'His alchemical fusion of soul, rock, gospel, and psychedelia rejected stylistic boundaries as much as his explosive backing band the Family Stone ignored racial and gender restrictions, creating a series of euphoric yet politically charged records that proved a massive influence on artists of all musical and cultural backgrounds.' Sly and the Family Stone is also considered the first major American rock group to have a racially integrated, mixed-gender lineup. Originally formed in 1966, the group's core lineup consisted of Stone alongside his brother, Freddie Stone, sister Rose Stone, Cynthia Robinson, Greg Errico, Jerry Martini and Larry Graham. Sly and the Family Stone racked up more than a dozen songs on the Billboard Hot 100, including five top 10 hits. The group's three No. 1 hits are 'Everyday People,' 'Family Affair' and 'Thank You (Falettinme Be Mice Elf Agin)'/'Everybody Is a Star.' The band was inducted into the Rock & Roll Hall of Fame in 1993 and were ranked 43rd on Rolling Stone's list of the '100 Greatest Artists of All Time' in 2010. Three of the group's albums — 'Stand,' 'There's a Riot Goin' On' and 'Greatest Hits' — were also included on Rolling Stone's most recent list of the '500 Greatest Albums of All Time.' Despite Sly and the Family Stone fizzling out by 1975, Stone continued to record and tour with a new rotating lineup. He released his debut solo album 'High on You' that same year. Stone remained active in the industry until drug problems forced his effective retirement in 1987. His final solo album, 'I'm Back! Family & Friends,' was released in 2011. Founding member of chart-topping '80s R&B group dies at 68 Legendary hip-hop duo's first US tour in 15 years to start in Mass. Festival fans demand refunds after headliner's set slashed over weather delay Live Wire: Two Northampton music series return in time for summer 'Devastated' music legend cancels more shows due to health issues Read the original article on MassLive.
Yahoo
12-06-2025
- Entertainment
- Yahoo
Thank You, Sly Stone
Let us begin with gratitude. Thank you, Sly Stone, for being so generous with your music before your death on Monday at the age of 82 — for the wealth of durable hits that includes 'Stand!,' 'Sing a Simple Song,' 'Everyday People,' 'Dance to the Music,' 'Family Affair,' and, yes, 'Thank You (Falettinme Be Mice Elf Again).' Thank you, Sly, for effectively inventing 1970s funk and the career of Prince with that last song. Thank you, Sly for pulling together the Family Stone, a band of players and singers Black and white, male and female, that served as a music-world version of the original Sesame Street cast, bright with the 1960s promise of a multicultural future unbound by racial or genre distinctions. More from The Hollywood Reporter Kendrick Lamar Was the Top Winner at the 2025 BET Awards Tyler Perry Calls Out Hollywood Studios at BET Awards: "This Is Not the Time to Be Silent" SHINee's Key on K-pop Stardom After 30 and Reuniting with U.S. Fans And thank you, Sly, falettin me into your life in 2007. Permit me to explain. I grew up besotted with the music of the man born Sylvester Stewart in 1943. His songs defined my primordial years, osmosing straight into my bloodstream. In 1996, the year I became a contributing editor at Vanity Fair, I screwed up the courage to pitch the editor, Graydon Carter, the idea of my profiling Sly. Mr. Stone was in a bad place then. Actually, no one seemed quite sure what place he was in, having removed himself from public life after a bad 70s and 80s in which drugs and indolence robbed him of his joy and spark. It wasn't typical Vanity Fair material. But to my delight, Graydon said yes. Terrific! I started making phone calls. I got in touch with Greg Errico, the Family Stone's founding drummer, who invited me to watch him jam in a Bay Area rehearsal space with fellow original band members Freddie Stone (guitar, Sly's brother) and Jerry Martini (saxophone). Stonewalled by Sly's then manager, Jerry Goldstein, I reached out to his fellow record-industry machers Lou Adler and Richard Gottehrer, to advocate on my behalf. Despite their efforts, Goldstein was unmoved. Years passed. My wife and I welcomed two children into our family. A new millennium dawned. Then, early in 2007, I heard that the youngest of Sly's sisters, a singer born Vaetta and known as Vet, had coaxed Sly into performing a few dates with her band that coming summer. I contacted Vet and related to her my decade-plus of travails. She told me that if I was serious, I should get to Las Vegas pronto to see her band's show at the Flamingo Hotel. Sly, she said, was going to play. I asked her, given the predilection for no-shows that did in his career as a touring musician, if she was sure. 'All I can say is that I'm his little sister and he's never lied to me,' she said. Sly did show up — in a bizarre ensemble pulled from the Me Decade's dress-up bin, wearing platform boots, wraparound white sunglasses, and spangly newsboy knickers. It was a chaotic show in which he performed only a few songs. But when he sang a soft, unplugged version of 'Stand!,' with its affirming message In the end you'll still be you/ One that's done all the things you set out to do, he held the crowd rapt. It was evident that, whatever he had done to himself bodily and mentally, his voice and musicianship were intact. My reward for turning up was the first major interview he had granted in a couple of decades. We met in a motorcycle shop in his native Vallejo, California, called Chopper Guys Biker Products. I had a million questions. He answered them gnomically. When I asked him what he had been up to all these years, and if he was watching Seinfeld and American Idol like the rest of us, he said, 'I've done all that. I do regular things a lot. But it's probably more of a Sly Stone life. It's probably… it's probably not very normal.' The comeback that my Vanity Fair profile was meant to signal failed to materialize; he still had drug and business issues to sort out. But between then and now, he did finally get sober. Vet emailed me a photo of Sly contentedly dandling a grandson in his lap. In Questlove's excellent documentary released earlier this year, Sly Lives! (a.k.a. The Burden of Black Genius), his younger daughter, Novena, laughs at the unlikely circumstance to which she now regularly bears witness: 'He's kind of just like… a standard old Black man.' That he lived to become that is hope-giving. Sly is often upheld as as an avatar for how the utopianism of 1960s America curdled into solipsism, cynicism, and bad vibes. I am reminded of the title character's reproach of the Dude in The Big Lebowski: 'Your revolution is over, Mr. Lebowski. Condolences. The bums lost!' But in the long run, Sly won. He found redemptive happiness. His library of music remains as alive and vibrant as ever and shall forever transcend the circumstances of its making and what came after. Once again, Sly, thank you. Best of The Hollywood Reporter Most Anticipated Concert Tours of 2025: Beyoncé, Billie Eilish, Kendrick Lamar & SZA, Sabrina Carpenter and More Hollywood's Most Notable Deaths of 2025 Hollywood's Highest-Profile Harris Endorsements: Taylor Swift, George Clooney, Bruce Springsteen and More
