TORONTO, ONTARIO--(Marketwired - June 13, 2017) - Dealnet Capital Corp. ("Dealnet" or the "Company") (TSX VENTURE:DLS), reported today that members of the Company's senior management team, together with current and proposed members of the Board of Directors, have purchased more than 1.8 million common shares of the Company in the open market since May 5, 2017. These share purchase transactions include approximately 1.2 million common shares purchased by Dr. Steven Small, Dealnet's Executive Chairman.
After accounting for these purchases, together with their previous holdings, senior management and current and proposed members of the Board of Directors currently own, directly or indirectly, approximately 22.5 million common shares representing approximately eight percent of the Company's issued and outstanding shares.
About Dealnet Capital Corp.
Dealnet is a specialty finance company backed by its proprietary, scalable engagement platform to service the $20 billion home improvement finance market through both dealer-based and technology enabled originations of secured finance assets (leases and loans). The Company earns net finance income over the term of these assets, which have a term to maturity of up to ten years 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 which provides significant scale to the engagement business. Together, these three revenue sources provide the Company with a combination of both annuity-like income that is earned over time from its growing portfolio of finance assets, and transaction-based income that generates fees for contracted services.
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