SOURCE: ECN Capital Corp.

ECN Capital

September 07, 2017 16:05 ET

ECN Capital Closes the Acquisition of Service Finance Holdings

Expansion of ECN's vendor finance business into US prime credit

TORONTO, ON--(Marketwired - September 07, 2017) - ECN Capital Corp. (TSX: ECN) ("ECN Capital" or the "Company"), announced today that it has closed the acquisition of Service Finance Holdings, LLC ("Service Finance") on the terms previously announced.

"As a founder of Service Finance, I am excited by the immediate benefits of our strategic partnership with ECN," said Mark Berch, Service Finance's President. "ECN's financial strength and resources present Service Finance with many new opportunities as we work to strengthen our business and propel growth."

"We are beyond impressed with the Service Finance business and excited to see the early results of our partnership; increased originations and profitability," said Steven Hudson, ECN Capital's Chief Executive Officer. "I am pleased to welcome Mark Berch, his partners, and employees to the next chapter of growth for both Service Finance and ECN Capital."

About ECN Capital Corp.

With total owned and managed assets of more than $4.9 billion, ECN Capital Corp. (TSX: ECN) is one of North America's leading finance companies. ECN Capital operates in four verticals: Home Improvement Finance, Commercial & Vendor Finance, Rail Finance and Aviation Finance.

About Service Finance Company

Service Finance is a nationally licensed sales finance company that utilizes a technology driven platform to originate, sell through to FDIC insured institutions, and service prime and super-prime installment contracts in the home improvement market. Originations are sourced through exclusive national vendor programs with top manufacturers and dealers.

Forward-looking Statements

This release includes forward-looking statements regarding ECN Capital and its business. Such statements are based on the current expectations and views of future events of ECN Capital's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements, including the future financial and operating performance of ECN Capital, the strategic advantages, business plans and future opportunities of ECN Capital and the ability of ECN Capital to access adequate funding sources, identify and execute on acquisition opportunities and transition to an asset management business. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting ECN Capital, including risks regarding the equipment finance industry, economic factors, and many other factors beyond the control of ECN Capital. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. A discussion of the material risks and assumptions associated with this outlook can be found in ECN Capital's June 30, 2017 MD&A and Alternate AIF Disclosure Document dated September 3, 2016 which has been filed on SEDAR and can be accessed at www.sedar.com. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and ECN Capital does not undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.

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