• Tendering Common Shares is quick and easy:
    • Follow instructions on materials accompanying mailed copies of the Take-over Bid Circular; or
    • Reach out to Kingsdale Advisors for assistance in understanding the process of tendering your Common Shares to the Offer (toll free in North America at 1-866-851-3214 or by email at contactus@kingsdaleadvisors.com).
  • Shareholders who do not take any action will not receive the cash consideration for their Common Shares under the premium Offer.

TORONTO, Oct. 05, 2020 (GLOBE NEWSWIRE) -- Dealnet Capital Corp. ("Dealnet" or the "Company") (TSX VENTURE: DLS) would like to thank all of the shareholders who have already deposited their Dealnet common shares (the “Common Shares”) to the premium cash offer of $0.16 per Common Share (the “Offer”) from Simply Group Acquisition Corp. (“Simply Green”). For the remaining shareholders who wish to take advantage of the significant premium offered here, you must take action before the 5:00 p.m. (Toronto time) deadline on October 14, 2020.

The Offer represents a premium of 33% to the closing price of the Common Shares on the TSX Venture Exchange (the “TSX-V”) on August 21, 2020 (the last trading day prior to the announcement of the Offer), a premium of 52% to the 30-day volume weighted average price (“VWAP”) on the TSX-V for the period ending August 21, 2020 and a premium of 93% to the 90- day VWAP on the TSX-V for the period ending August 21, 2020.

Dealnet’s Board of Directors unanimously recommends that shareholders accept the Offer and deposit their Common Shares under the Offer. Shareholders who do not take any action to deposit their Common Shares to the Offer will not receive the cash consideration for their Common Shares under the premium Offer.

How to Tender Common Shares to the Offer

Most Dealnet shareholders hold their shares at a bank, broker or other financial intermediary, which means you DO NOT hold a physical share certificate or DRS position. For these shareholders, depositing your shares to the offer is as simple as contacting your bank/broker’s corporate actions department and instructing them to tender your shares to the offer. If you need assistance in doing so, please call Kingsdale Advisors at toll free in North America at 1-866-851-3214 or call collect outside North America at 416-867-2272

These intermediaries likely have established deposit cut-off times that are prior to the Expiry Time. Shareholders must instruct their brokers or other intermediaries promptly if they wish to deposit their Common Shares.

Shareholders who are holding their shares directly and who wish to accept the Offer must complete and execute the letter of transmittal (printed on YELLOW paper) (the “Letter of Transmittal”) accompanying the takeover bid circular of Simply Green (the “Take-Over Bid Circular”) mailed to Dealnet shareholders in accordance with the instructions set forth therein and deposit the completed Letter of Transmittal, together with the certificates representing the Common Shares and all other documents required by the Letter of Transmittal, to Kingsdale Advisors (the “Depositary and Information Agent”) prior to the Expiry Time of 5:00 p.m. (Toronto time) on October 14, 2020.

Alternatively, Shareholders who are holding their shares directly may:

  1. accept the Offer by following the procedures for book-based transfer of Common Shares described under Section 3 of the Offer, “Manner of Acceptance — Acceptance by Book-Entry Transfer” or

  2. accept the Offer where the certificates representing the Common Shares are not immediately available, or if the certificates and all of the required documents cannot be provided to the Depositary and Information Agent at or prior to the Expiry Time, by following the procedures for guaranteed delivery described under Section 3 of the Offer, “Manner of Acceptance — Procedure for Guaranteed Delivery” using the Notice of Guaranteed Delivery (printed on PINK paper) accompanying the Offer and Take-over Bid Circular (or a manually executed facsimile thereof).

For additional information, Dealnet shareholders should contact the Depositary and Information Agent, Kingsdale Advisors, toll free in North America at 1-866-851-3214 or call collect outside North America at 416-867-2272 or by email at contactus@kingsdaleadvisors.com.

About Dealnet Capital Corp.

Dealnet is the parent company of subsidiaries operating in two market segments, consumer finance and call centre. The Company operates in the consumer finance segment in Canada through EcoHome Financial Inc. (“EcoHome”) and its call centre segment under the One Contact banner (“One Contact”).

EcoHome is a specialty finance company serving the $20 billion Canadian home improvement finance market. EcoHome 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. Through a dealer network, EcoHome 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.

One Contact offers customer support services to both EcoHome and third-party institutions across Canada and the U.S.

For additional information please visit www.sedar.com.

About Simply Group

With more than $750 million in assets acquired, Simply Group is providing consumers and businesses with financing solutions that afford them greater flexibility to improve their energy- efficiency and invest in the modernization of their residential, commercial and industrial properties and projects. Simply Group believes that its people are its greatest asset and is proud to be Great Place to Work-Certified since 2016. In 2020, Simply Group was named Best Business of the Year by the CanadianSME National Business Awards.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture 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, including the effects of Covid-19, 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.

Contact Information

Dealnet Capital Corp.

Kingsdale Advisors
Toll free: 1-866-851-3214
Local & collect: 416-867-2272
contactus@kingsdaleadvisors.com  
 
Brent Houlden
Chief Executive Officer
(905) 695-8557 ext.1145
bhoulden@dealnetcapital.com