DealNet Capital Corp.

DealNet Capital Corp.

November 01, 2013 11:48 ET

DealNet Announces CEO Transition

TORONTO, ONTARIO--(Marketwired - Nov. 1, 2013) - DealNet Capital Corp. (the "Company") (CNSX:DLS) (PINKSHEETS:GAIMF) announces that Graham Simmonds will step down as the Company's Chief Executive Officer, effective as of November 1, 2013. Mr. Simmonds will continue to serve as the Chairman of the Board of Directors in a non-executive capacity. The Board of Directors has appointed Bob Cariglia, President of DealNet Capital, as the Company's successor as Chief Executive Officer. Mr. Cariglia will also continue his tenure as President of the Company.

"In a short period of time, the Company has grown to close to 200 employees with a backlog exceeding $30 Million," said Mr. Simmonds. "I am proud of our results to date and look forward to my continued involvement at the Board level. At this stage there are people who are better suited than I am to guide DealNet to the next level. With that in mind, I am confident that we have put the right team together to ensure the Company continues on its positive trajectory. Bob is a talented executive with a proven track record of delivering strong performance. He assumes the CEO position with the full confidence and support of the Board."

"It was always our intent to have Graham lead the Company to a certain level, and we all thank him for getting us here sooner than anticipated," Mr. Cariglia stated. "This move allows him to concentrate on a number of strategic initiatives from his role as Chairman."

DealNet Capital Corp. is a public company that trades under the symbol DLS on the Canadian National Stock Exchange, and under the symbol GAIMF on the Pink Sheets of the Over the Counter Bulletin Board. The Company is a merchant banking company that has a flexible investment mandate with 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. The Company continues to look for acquisition opportunities in these key markets in order to continue to drive competitive advantages and growth.


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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'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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