DealNet Capital Corp. Provides One Dealer Update
March 17 2014 - 1:59PM
Marketwired
DealNet Capital Corp. Provides One Dealer Update
TORONTO, ONTARIO--(Marketwired - Mar 17, 2014) - DealNet Capital
Corp. (the "Company" or "DealNet") (CSE:DLS)(PINKSHEETS:GAIMF) is
pleased to provide an update on its wholly-owned subsidiary, One
Dealer Inc. ("One Dealer") and One Dealer Financial Services Inc.
("One Dealer Financial"). The Company has been implementing a
business strategy to provide an extensive suite of services
including financing solutions to independent Heating, Ventilation
and Air Conditioning ("HVAC") dealers and their customers. This
comprehensive service offering includes HVAC equipment financing,
product supply, marketing services, customer support services and
extended warranty products.
One Dealer Financial Services
The Company's consumer financial services division, One Dealer
Financial, is pleased to announce that it has executed a term sheet
with a leading Canadian finance company to receive up to $10
million in underwriting capital to be deployed as loans or rental
contracts for HVAC equipment, installed and serviced by One
Dealer's growing network of independent HVAC dealers.
The agreement with One Dealer Financial's new financial partner
outlines the terms and conditions of what is expected to be a
productive and ongoing relationship with an experienced funder in
the alternative lending space. Both parties are working towards
completion of final contracts with the definitive agreements
expected to close within weeks. One Dealer Financial continues
active discussions with several other financial partners that will
serve to fuel the anticipated growth curve.
One Dealer
One Dealer is also pleased to announce that it is working with
an established North American HVAC equipment distributor to develop
a network of independent dealers to sign up for its suite of HVAC
marketing and financing services. One Dealer's network currently
consists of 10 full service dealers, with an additional 20 who are
committed and in the process of signing.
One Dealer is targeting full service dealers who process between
15 and 100 rental deals per month at an average financed amount of
$2,500 per deal. It is driving towards 200 dealers over the next 12
to 18 months, which could result in significant capital deployment
and 10-year income streams. This growing network of dealers has
been promoting One Dealer Financial products since the Fall of
2013, with initial contracts deployed as early as January 2014.
"We are encouraged with the progress that we are making in
developing our network of dealers in Ontario and we fully expect to
expand to Western Canada later this year," stated Bob Cariglia,
President and Chief Executive Officer of DealNet Capital Corp. "The
availability of this additional financing commitment will enable us
to further accelerate the roll out of our full suite of marketing
and financing solutions to the HVAC market."
About One Dealer Inc.
One Dealer Inc. is a wholly-owned subsidiary of DealNet Capital
Corp., providing a full suite of comprehensive services and
financing solutions to independent HVAC dealers and their
customers. One Dealer Financial Services Inc., a provider of
consumer financing and underwriting, is a wholly-owned subsidiary
of One Dealer Inc. Please visit www.onedealernetwork.com for more
information.
About DealNet Capital Corp.
DealNet Capital Corp. is a public company that trades under the
symbol DLS on the Canadian Securitas Exchange, formerly the
Canadian National Stock Exchange. DealNet is a merchant banking
company with a flexible investment mandate and a strategic focus on
recurring revenue businesses. The company has recently focused its
investments towards the thriving North American Business Process
Outsourcing (BPO) Market as well as the Consumer Financing Market
by leveraging its recently acquired BPO division. DealNet continues
to look for acquisition opportunities in these key markets in order
to continue to drive competitive advantages and growth.
ON BEHALF OF DEALNET CAPITAL CORP.
For additional information please visit www.sedar.com.
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 Corporation. 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 Capital'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.
DealNet Capital Corp.Bob CarigliaPresident and
CEO+1-416-806-8816bcariglia@dealnetcapital.comFirst Canadian
Capital Corp.416-742-5600 or 1-866-580-8891Eric Balog (ext 235) or
Dan Boase (ext 232)info@firstcanadiancapital.com
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