TORONTO, ONTARIO--(Marketwired - Aug. 26, 2014) - DealNet Capital Corp. ("DealNet" or the "Company") (CSE:DLS) (PINKSHEETS:GAIMF) is pleased to announce that its Business Process Outsourcing ("BPO") subsidiary, OC Communications Group Inc. ("OCCGI"), has executed an Early Start Letter (the "Early Start Letter") with a leading Canadian insurance company.
The Early Start Letter allows OCCGI to commence service and invoice the customer for transitional activity costs to launch the technical support contract while the final contract negotiations continue. The term of the contract, when awarded, is expected to be five years with a total expected value in excess of $1.0 million. Both parties are working to finalize the contract in September 2014 and are expecting a formal launch in November of 2014.
"This is a great opportunity that came out of the master service agreement we were able to secure last year with a fortune 500 global systems consulting firm," reported Michael Hilmer, COO of DealNet and President and CEO of OCCGI. "With several joint bids with this partner in our pipeline we expect to announce more wins over the coming months."
About DealNet Capital Corp.
DealNet Capital Corp. is a public company that trades under the symbol DLS on the Canadian Securities Exchange. DealNet is a merchant banking company with a flexible investment mandate and a strategic focus on recurring revenue businesses. The Company has focused its investments towards the thriving North American business process outsourcing ("BPO") market through its wholly-owned subsidiary, OC Communications Group Inc. ("OCCGI"), as well as the consumer financing market through its wholly-owned subsidiary, One Dealer Inc. ("One Dealer").
ON BEHALF OF DEALNET CAPITAL CORP.
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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 Capital'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.