Dealnet Capital Corp.
TSX VENTURE : DLS

Dealnet Capital Corp.

July 04, 2017 11:49 ET

Dealnet Signs New OEM/Distributor Relationships

TORONTO, ONTARIO--(Marketwired - July 4, 2017) - Dealnet Capital Corp. ("Dealnet" or the "Company") (TSX VENTURE:DLS), reported today that it has entered into a new original equipment manufacturer ("OEM") relationship as well as a new distributor relationship that together provide the Company with access to more than 1,900 dealers that supply and install HVAC and water treatment equipment to homeowners across Canada.

Dealnet has commenced the onboarding process for the estimated 800 dealers that will qualify for participation in its platform. With the advancements that the Company has made in accelerating its onboarding process, a number of these dealers have already been activated and the Company expects to originate funding transactions through these qualified dealers commencing in the third quarter of 2017. The Company also continues to qualify and onboard qualifying dealers from other OEM and Distributor relationships previously announced, in line with the Company's growth plan.

"I am very pleased to announce these two awards that will continue to support growth in our dealer channel," said Michael Hilmer, Dealnet's Chief Executive Officer. "I'm also delighted with the volume and margin of the funding transactions in our pipeline and the range of additional opportunities we are negotiating as we continue to focus our treasury on originating assets that deliver the best long term returns for our shareholders," added Mr. Hilmer.

About Dealnet Capital Corp.

Dealnet is a specialty finance company backed by its proprietary, scalable engagement platform to service the $20 billion home improvement finance market through both dealer-based and technology enabled originations of secured finance assets (leases and loans). The Company earns net finance income over the term of these assets, which have a term to maturity of up to ten years and from fee income derived from the transaction support services that it provides to its dealer network. The Company also uses its engagement platform to provide customer support services on a contract basis to third party institutions which provides significant scale to the engagement business. Together, these three revenue sources provide the Company with a combination of both annuity-like income that is earned over time from its growing portfolio of finance assets, and transaction-based income that generates fees for contracted services.

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