DealNet Capital Corp.
TSX VENTURE : DLS

DealNet Capital Corp.

May 24, 2016 10:33 ET

Dealnet Enters Strategic Alliance Agreement with Global HVAC Manufacturer

TORONTO, ONTARIO--(Marketwired - May 24, 2016) - Dealnet Capital Corp. ("Dealnet" or the "Company") (TSX VENTURE:DLS) today announced that it has entered into a strategic alliance agreement with a manufacturer (the "Manufacturer") of heating, ventilation and air conditioning equipment ("HVAC") to provide a tailored vendor finance program to the Manufacturer's dealer network (the "Dealer Network") across Canada. The Manufacturer is a premier global leader in the HVAC space, selling multiple well known branded products to its Dealer Network.

The Manufacturer had previously been financing with a competitor of Dealnet and was looking for a new Canadian partner who could deliver the following key attributes:

  1. friction free finance program for their contractors
  2. real time technology enabled credit adjudication
  3. comprehensive training and support for dealers
  4. comprehensive experience to assist manufacturers in deploying and leveraging consumer finance programs through an extensive dealer network

Initially, the program will be rolled out to approximately 80 dealers located in Ontario, with several dealers already on board. The program will then be deployed to the Dealer Network across Canada in the coming months.

Dealers are required to meet various criteria set by the Manufacturer to ensure they will operate with integrity and care while representing the Manufacturer's brands. The majority of sales generated by the Dealer Network are inbound where the consumer invites the dealer as an authorized representative of the Manufacturer for a quotation, providing another entry point into the home for Dealnet.

"Manufacturer programs are an important part of our growth strategy and we are pleased to achieve this significant milestone with an industry leader that shares our philosophy for a high level of service" said Michael Hilmer, Chief Executive Officer of the Company. "A suite of financing options demonstrates the manufacturer's commitment to provide their dealers with as many tools as possible to support and service the Canadian consumer. The availability of flexible financing is important to all types of consumers making a major purchase and increases the dealer's ability to secure a sale. This program is expected to be the first of many manufacturer programs for Dealnet."

About Dealnet Capital Corp.

Dealnet is an engagement enabled consumer finance company that is initially focused on home improvement finance solutions including heating ventilation and air conditioning financing and leasing. Dealnet leverages its large scale customer service and engagement technology platform to attract home improvement dealers by providing front and back office services to support dealer operations leading to origination growth.

For additional information please visit www.sedar.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • DealNet Capital Corp.
    Michael Hilmer, CEO
    416-420-5529
    mhilmer@dealnetcapital.com

    DealNet Capital Corp.
    Nicole Marchand
    Investor Relations
    416-428-3533
    416-428-3533