DealNet Capital Corp.
CNSX : DLS

DealNet Capital Corp.

November 25, 2014 08:38 ET

DealNet Announces $5 Million Non-Brokered Private Placement

TORONTO, ONTARIO--(Marketwired - Nov. 25, 2014) - DealNet Capital Corp. ("DealNet" or the "Company") (CSE:DLS) is pleased to announce it has arranged a non-brokered private placement financing for minimum gross proceeds of $2.5 million up to $5.0 million (the "Offering"). The Company will issue up to 26,315,790 units (each, a "Unit") at a price of $0.19 per Unit, consisting of one common share (each, a "Common Share") of the Company and one common share purchase warrant (each, a "Warrant") of the Company. Each Warrant will allow the purchaser to acquire one additional common share of the Company at a price of $0.30 for a period of 18 months from the date of closing of the Offering. The proceeds from the Offering will be used for capital to fund future growth, to repay debt incurred for a recent acquisition, working capital and general and administrative purposes.

In connection with the Offering, a finder's fee will be paid equal to 8% in cash of the gross amount invested by accredited investors introduced to the Company by registered dealers. Additionally, the Company shall issue finder's warrants to purchase the security issued pursuant to the Offering in the amount of 8% of the gross amount invested by accredited investors introduced to the Company by registered dealers with a term of 18 months from the date of closing of the Offering exercisable into common shares of the Company at a price of $0.30 per Unit.

Any security sold in connection with the Offering are subject to a hold period of four months and one day under Canadian securities law and the Offering is subject to certain conditions, including, but not limited to the receipt of all necessary regulatory and stock exchange approvals.

As a condition to closing of the Offering, funds will be held in trust with the Company's legal counsel until such time that the Company has submitted an application to be listed on the TSX Venture Exchange (the "TSX-V"). The Company intends on becoming a TSX-V listed company and undertakes to use its "best efforts" to become successful, however, there is no guarantee that the TSX-V shall approve such listing application.

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.

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 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.

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