TORONTO, ONTARIO — (Marketwired) — 12/12/14 — (“DealNet” or the “Company”) (CSE: DLS) is pleased to announce that the Company–s consumer financial services arm, One Dealer Financial Services Inc. (“One Dealer Financial”) has secured a subscription agreement for the first tranche of its senior secured debenture (the “Debenture”) from the wealth management arm of one of Canada–s largest life and health insurance companies (the “Investor”).
The Investor has subscribed for an initial $3,000,000 of the Debenture and has the option to invest up to a total of $50,000,000 under the offering. The completion of the offer, sale and issuance of Debentures is subject to certain customary conditions including final documentation and completion of a minimum common equity financing of $3,750,000 by DealNet.
“This is a significant milestone for our One Dealer Financial business that provides us with the ability to accelerate our dealer onboarding and deployment of capital,” says Ashish Kapoor, CFO of DealNet. “We are very excited to partner with this prestigious institution and look forward to a mutually beneficial relationship validating and growing the consumer financing platform we have developed.”
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
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