Canam Credit Company Inc.

Canam Credit Company Inc.

July 17, 2007 14:59 ET

Canam Credit Announces Convertible Debentures

CALGARY, ALBERTA--(Marketwire - July 17, 2007) - Canam Credit announced today that it intends to offer $3 million in convertible debentures ("Convertible Debentures"). The Convertible Debentures will accrue interest at the rate of 15% per annum and secured by assets of Canam Credit, which are currently producing phenomenal results.

The Convertible Debentures may be converted into common shares of Canam Credit redeemable at $1.50 per share. The series one debentures will have a maturity of three years from the purchase date convertible and payable at the end of each year. Common shares will then be issued to the debenture holder upon conversion.

"This new financing will provide the additional capital required in order to progress the necessary expansion plans for North America," said James T. White, 22-year old, President and Chief Executive Officer of Canam. "We will have more flexibility in executing our business plan to increase our lending services and selective acquisitions," added White.

About Canam Credit - www.canamcredit.com

Canam Credit is becoming known as one of Canada's fastest growing companies. With nearly four acquisitions completed since its official launch in January 2007, Canam Credit is turning heads as it sets new standards for the status quo in multiple industries throughout the financial world. Canam Credit is a financial services corporation with subsidiaries including Canam Factoring, Canam Insurance, True West Mortgages Corporation, Canada Debt Assistance, Canada Debt Services, and an array of other financial services.

For more information on this topic, or to schedule an interview contact Rheymar V. Cabalu, tel: (403) 235-1005, rheymarc@canamcredit.com, www.canamcredit.com, Suite 101, 4015 17th Avenue SE, Calgary, AB, T2A 0S8.

This press release may contain forward-looking statements with respect to Canam Credit Company and its operations, strategy, financial performance and condition. These statements generally can be identified by use of forward looking words such as "may", "will", "expect", "estimate", "anticipate", "intends", "believe" or "continue" or the negative thereof or similar variations. The actual results and performance of Canam Credit Company could differ materially from those expressed or implied by such statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Some important factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, competition, changes in government regulation and the factors described under "Risk Factors" in the Offering Memorandum. The cautionary statements qualify all forward-looking statements attributtable to Canam Credit Company and persons acting on its behalf. Unless otherwise stated, all forward-looking statements speak only as of the date of this press release and Canam Credit Company has no obligation to update such statements.

Contact Information