DealNet Accelerates Underwriting Following Closing of Financing Facility
May 26 2014 - 8:26AM
Marketwired
DealNet Accelerates Underwriting Following Closing of Financing
Facility
TORONTO, ONTARIO--(Marketwired - May 26, 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 Financial Services Inc. ("One Dealer Financial"), the
Company's consumer finance services division. The Company provides
comprehensive service offerings including financing solutions to
independent Heating, Ventilation and Air Conditioning ("HVAC")
dealers and their customers. This extensive suite of services
includes HVAC equipment financing, product supply, marketing
services, customer support services and extended warranty
products.
One Dealer Financial Services
One Dealer Financial announced today that it has closed on an
initial finance facility and is aggressively expanding retail
funding of HVAC rental and finance deals. The announcement
highlights what is expected to be the first of an ongoing series of
financing agreements, designed to provide One Dealer Financial with
sufficient underwriting capital to satisfy the anticipated demand
for rental contracts across the Company's growing dealer network.
The Company self-funded deals through the first quarter of 2014 to
test all aspects of the credit and cash management systems. These
tests proved to be successful and with the new finance facility in
place, the Company will now be in a position to ramp-up its retail
finance portfolio.
"We pride ourselves on having solid operational discipline in
all aspects of our business. Our testing through the first quarter
gives us exceptional comfort that we can handle the significant
dealer demand," stated Bob Cariglia, President and Chief Executive
Officer of DealNet Capital Corp. "We have also generated
significant interest in our offerings as evidenced by the signing
of fifteen dealers, and a pipeline of over forty contracts in
process."
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 Securities 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 Corp416-742-5600 or 1-866-580-8891Eric Balog (ext 235) or
Dan Boase (ext 232)info@firstcanadiancapital.com
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