TORONTO, July 2, 2018 /CNW/ - Dealnet Capital Corp. ("Dealnet" or the "Company") (TSXV: DLS),announces that its Board of Directors has authorized the creation of a series of preferred shares (the "Series A Preferred Shares") and issued 10,662 Series A Preferred Shares, at a price of $25 per share.
The Series A Preferred Shares are non-voting, non-convertible, non-retractable but redeemable at the Company's option (with mandatory redemption upon certain events within the Company's control), and carry a cumulative dividend of 5%, payable quarterly.
About Dealnet Capital Corp.
Dealnet is a specialty finance company servicing the $20 billion home improvement finance market through both dealer-based and direct homeowner-based originations of secured finance assets (equipment leases and loans). The company earns net finance income over the term of these assets 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.
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SOURCE Dealnet Capital Corp.
For further information: Brent Houlden, Chief Executive Officer, (905) 695-8557 ext.1145, [email protected]; John Sadler, Senior Director - Corporate Communications, (905) 695-8557 ext. 1348, [email protected]