TORONTO, ONTARIO — (Marketwired) — 09/24/14 — (“DealNet” or the “Company”) (CSE: DLS) announced today that trading of the Company–s securities on the Canadian Securities Exchange (the “CSE”) had resumed at market open on September 18, 2014. Trading of the Company–s securities had been halted by the Investment Industry Regulator Organization of Canada (“IIROC”) on September 4, 2014, pending clarification of the Company–s affairs.
As disclosed in the Company–s press release of September 4, 2014, IIROC was previously notified by the U.S. Securities and Exchange Commission (the “SEC”) that the Company lacked current and accurate information regarding the securities of the Company due to a number of delinquent periodic and current reports which were not filed by the Company with the SEC.
The Company consented to revoke its registration of its securities under Section 12(j) of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), effective as of September 22, 2014. The Company–s principal market for the Company–s securities is in Canada and the Company does not believe maintaining a registration under the Exchange Act is of value to the Company nor its investors at this time. DealNet continues to be a reporting issuer solely under the jurisdiction of the Canadian regulators.
About DealNet Capital Corp.
DealNet Capital Corp. is a public company that trades under the symbol DLS on the Canadian Securities Exchange. DealNet Capital has an investment mandate to acquire and develop investee companies focused on generating high margin recurring revenue through innovative customer engagement models. The Company has focused its investments towards two key industry verticals: the thriving North American business process outsourcing (“BPO”) market through its wholly-owned subsidiaries, OC Communications Group Inc. (“OCCGI”) and Impact Mobile Inc. (“Impact Mobile”); and the consumer financing market through its wholly-owned subsidiary, One Dealer Inc. (“One Dealer”).
ON BEHALF OF DEALNET CAPITAL CORP.
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The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This press release contains certain forward-looking statements with respect to the Company. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect. These statements involve risks and uncertainties including, without limitation, DealNet–s ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.
Contacts:
DealNet Capital Corp.
Bob Cariglia
President and CEO
+1-416-806-8816
First Canadian Capital Corp.
Eric Balog (ext 235)
Dan Boase (ext 232)
416-742-5600 or 1-866-580-8891
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