TORONTO, Oct. 13, 2017 (GLOBE NEWSWIRE) — Dealnet Capital Corp. (“Dealnet” or the “Company”) (TSX-V:DLS), reported today that the terms of a $23 million short term debenture initially issued by the Company in April of this year have been amended to allow for the maturity of the debenture on January 11, 2018. The other terms and conditions of this debenture remain unchanged.
“The extension gives the Company additional flexibility to structure its desired long-term warehousing capacity with multiple partners. Maintaining warehouse capacity ensures significant seasoning capability for growing originations,” commented Michael Hilmer, Chief Executive Officer.
About Dealnet Capital Corp.
Dealnet is a specialty finance company powered by its proprietary, scalable engagement platform to service the $20 billion home improvement finance market through both dealer-based and direct homeowner-based originations of secured finance assets (equipment leases and loans). The company earns net finance income over the term of these assets and from fee income derived from the transaction support services that it provides to its dealer network. The Company also uses its engagement platform to provide customer support services on a contract basis to third-party institutions.
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|Michael Hilmer||John Sadler|
|Chief Executive Officer||Senior Director – Corporate Communications|
|+1-855-912-3444||(905) 695-8557 ext. 1348|