Rentcash Inc announced it has closed the private placement financing previously announced on August 9, 2004. The total financing was for 1,250,000 common shares at a price of $2.00 per common share and realized gross proceeds of $2,500,000.

Acumen Capital Finance Partners Limited acted as agent in connection with the financing and received a cash fee of 7% of the gross proceeds and received broker's warrants entitling them to purchase 87,500 common shares at a price of $2.00 until August 25, 2005.

The common shares issued in connection with the private placement as well as the broker's warrants and underlying common shares are subject to a hold period which expires December 26, 2004.

The Company intends to use the net proceeds of the financing for new store expansion and working capital purposes.

Rentcash operates under two store banners: The Cash Store and Insta-rent. The Company's overall store count stands at 159 stores, comprised of 116 Cash Stores and 43 Insta-rent outlets. The Company employs over 500 people and has its head office located in Edmonton, Alberta.