CHESSWOOD GROUP LIMITED ANNOUNCES CLOSING OF $32 MILLION PUBLIC OFFERING AND CONCURRENT $6 MILLION PRIVATE PLACEMENT

TORONTO, March 12, 2015 – Chesswood Group Limited (“Chesswood”) (TSX: CHW) is pleased to announce that it has completed its previously announced public equity offering pursuant to which Chesswood has issued 3,302,600 subscription receipts (“Subscription Receipts”) at a price of $9.75 per Subscription Receipt for gross proceeds of approximately $32 million (the “Public Offering”), which amount includes the exercise in full of the over-allotment option consisting of 430,800 Subscription Receipts. The Subscription Receipts will begin trading today on the Toronto Stock Exchange under the symbol “CHW.R”. RBC Capital Markets led a syndicate of underwriters in connection with the Public Offering including BMO Capital Markets, National Bank Financial Inc., TD Securities Inc. Cormark Securities Inc., Canaccord Genuity Corp. and Laurentian Bank Securities Inc.

Chesswood also announces that it has completed its previously announced $6 million concurrent non-brokered private placement of 615,384 Subscription Receipts at the same offering price as under the Public Offering (the “Private Placement Offering” and, together with the Public Offering, the “Offerings”) to certain directors, officers and other insiders.

Each Subscription Receipt will entitle the holder thereof to receive, for no additional consideration, one common share in the capital of Chesswood (each, a “Common Share”) upon the satisfaction or waiver of the closing conditions contained in the share purchase agreement for the previously announced acquisition of Blue Chip Leasing Corporation and EcoHome Financial Inc. (the “Acquisition”).

The net proceeds from the Offerings will be used to fund part of the purchase price for the Acquisition. Closing of the Acquisition is expected to occur on or about March 17, 2015. Immediately following closing of the Acquisition, the Subscription Receipts will be automatically exchanged for Common Shares and it is expected that trading in Subscription Receipts will halt prior to markets opening on the next trading day. Chesswood will issue a further press release upon closing of the Acquisition providing final details.

About Chesswood Group Limited

Chesswood Group Limited is a financial services company with operating businesses in both Canada and the U.S.

To learn more about Chesswood Group Limited, visit www.ChesswoodGroup.com . The separate websites of Chesswood Group Limited’s operating businesses are at www.PawneeLeasing.com, www.windsetcapital.com, www.nstarleasing.com and www.AcuraSherway.com.

Contact:
Barry Shafran
Chesswood Group Limited
416-386-3099 bshafran@chesswoodgroup.com

This press release contains forward-looking statements that involve a number of risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. Many factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.

NO STOCK EXCHANGE, SECURITIES COMMISSION OR OTHER REGULATORY AUTHORITY HAS APPROVED OR DISAPPROVED THE INFORMATION CONTAINED HEREIN.

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