Element Financial Corporation

Element Financial Corporation

June 19, 2014 07:21 ET

Senior Management Invests an Additional $11.2 Million in Element's Securities

TORONTO, ONTARIO--(Marketwired - June 19, 2014) - Element Financial Corporation (TSX:EFN) ("Element" or the "Company"), one of North America's leading equipment finance companies, today announced that members of the Company's senior management team and Board of Directors purchased approximately $11.2 million worth of Element securities in connection with the Company's recently completed $1.42 billion offering of subscription receipts, debentures and preferred shares (the "Offering").

"The entire senior management team and all of the members of our Board participated in this Offering with demand from this group exceeding the available allocation," noted Steven K. Hudson, Element's Chairman and CEO. "A personal financial commitment of this scale from those of us who are closest to the inner workings of this Company is supported by the stronger than forecast origination growth that we are seeing across each of our four verticals," added Mr. Hudson.

All security purchases referenced above were funded by the personal resources of the individual investor and were not supported by loans from the Company.

About Element Financial Corporation

With total assets expected to reach $10 billion following the closing of the previously announced acquisition of PHH Corporation's fleet management business, Element Financial Corporation is one of North America's leading equipment finance companies. Element operates across North America in four verticals of the equipment finance market - Commercial & Vendor Finance, Aviation Finance, Railcar Finance and Fleet Management.

Forward Looking Statements

This release includes forward-looking statements regarding Element and its business. Such statements are based on the current expectations and views of future events of Element'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. Forward-looking statements in this release include those related to the closing of the acquisition of PHH Corporation's fleet management business and forecast origination growth. 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 Element, including risks regarding the equipment finance industry, economic factors and many other factors beyond the control of Element. 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. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Element undertakes no 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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