TORONTO, Oct. 8, 2019 /CNW/ - Dealnet Capital Corp.
("Dealnet" or the "Company") (TSX VENTURE: DLS) announced today
that organic originations of finance receivables for the quarter
ended September 30, 2019 were
$16.1 million (Q3 2018 - $11.5 million; Q2 2019 - $12.9 million). This represents an increase of
39% over the third quarter of 2018 and 25% above the previous
quarter. The originations remain at a similar high credit quality
and yield as the prior periods.
"Our origination momentum continues to build as we execute on
our growth plans," said Brent
Houlden, Dealnet's Chief Executive Officer. "Furthermore, we
continued to add high-volume dealers during the quarter, many of
whom have started to actively originate finance receivables with
us," added Mr. Houlden.
About Dealnet Capital Corp.
Dealnet is a specialty finance company serving the $20 billion Canadian home improvement finance
market. The Company develops and supports consumer sales financing
programs for approved dealers and distributors under agreements
with original equipment manufacturers (OEMs) that supply a wide
range of home improvement products to the retail market. The
Company runs its Consumer Finance segment through the operating
business, EcoHome Financial Inc. Through a dealer network, the
Company underwrites, originates, funds and services the prime
quality loans and leases that homeowners need to finance the
acquisition and installation of capital assets that improve the
quality, comfort and safety of their homes.
In addition, the Company operates its Call Centre segment in the
business communications industry in Canada and the U.S. under the One Contact
banner, offering customer support services on a contract basis to
third party institutions.
For additional information please visit www.sedar.com.
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Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-looking Statements
This news release contains certain "forward-looking information"
within the meaning of applicable securities law. Forward looking
information is frequently characterized by words such as "plan",
"expect", "project", "intend", "believe", "anticipate", "estimate",
"may", "will", "would", "potential", "proposed" and other similar
words, or statements that certain events or conditions "may" or
"will" occur. These statements are only predictions.
Forward-looking information is based on the opinions and estimates
of management at the date the information is provided and is
subject to a variety of risks and uncertainties and other factors
that could cause actual events or results to differ materially from
those projected in the forward-looking information. For a
description of the risks and uncertainties facing the Company and
its business and affairs, readers should refer to the Company's
Management's Discussion and Analysis. The Company undertakes no
obligation to update forward-looking information if circumstances
or management's estimates or opinions should change, unless
required by law. The reader is cautioned not to place undue
reliance on forward-looking information.
SOURCE Dealnet Capital Corp.