TORONTO, ONTARIO--(Marketwired - Jun 26, 2013) - DealNet Capital Corp. (the "Company") (CNSX:DLS)(GAIMF) is pleased to provide a status update on its wholly owned subsidiary, One Dealer Inc. ("One Dealer"), and its related business arms. The Company has been developing and implementing a business strategy to provide a comprehensive suite of services and financing solutions to independent Heating, Ventilation and Air Conditioning ("HVAC") dealers and their customers. The service offering includes HVAC equipment financing, wholesale product supply, logistical support, customer care, extended warranty products and marketing services.
One Dealer Financial Services
The Company's consumer financial services arm, One Dealer Financial Services Inc. ("One Dealer Financial"), has successfully implemented a critical origination platform required to manage the finance contract origination, procurement and ongoing maintenance elements. The origination platform has been customized, tested and approved for use providing key interface points for dealers, suppliers and financiers.
Further, One Dealer Financial is pleased to report that it has been granted third party biller status with a key utility operating principally in Ontario. This provides One Dealer Financial the ability to invoice finance and lease payments as well as complementary services offered by One Dealer on the homeowner's utility bill. This effectively guarantees over 99% collection on any payments due to the Company or its subsidiaries, thus reducing underwriting and overall servicing costs of the finance portfolio.
One Dealer Financial is also pleased to report that it has secured a competitive underwriting proposal from a Canadian Bank for $12 Million in underwriting capital. The comprehensive proposal outlines critical details that will serve as the basis for a productive ongoing relationship with the funder. Both parties are working on a best efforts basis to finalize the commercial agreements and to implement the underwriting solution as soon as practical. One Dealer Financial remains in discussion with several other interested financiers, each with compelling funding models as a means to complement the service offering to meet market demand. One Dealer Financial will provide further financing updates as the Company procures additional sources of capital.
One Dealer Home Services
The Company's consumer home services arm, One Dealer Home Services Inc. ("One Dealer Home"), has successfully completed initial development of the One Dealer Home portal, a consumer-facing brand, leveraged to drive consumer product and service demand to the One Dealer Network of dealers. One Dealer Home will aggregate marketing investments currently incurred by dealers to implement a comprehensive and targeted digital media strategy, leading to incremental lead origination and improved lead conversion rates for its dealer base.
One Dealer Network
Working closely with an established North American HVAC equipment distributor ("Distributor") under a Memorandum of Understanding ("MOU"), the Company and the Distributor have begun scheduling a series of HVAC Dealer launch events expected to commence July of 2013. Dealers attending these events will have the opportunity to gain first hand understanding of this comprehensive suite of services, and the benefits that are available to their operations. One Dealer and the Distributor are working in partnership to tailor the on-boarding strategy and process to maximize dealer turnout and program adoption rates.
"We are very pleased to provide this update regarding the considerable progress we have made to date and look forward to the launch of these innovative and complementary service offerings near term," stated Bob Cariglia, President of DealNet Capital Corp.
DealNet Capital Corp. is a public company that trades under the symbol DLS on the Canadian National Stock Exchange, and under the symbol GAIMF on the Pink Sheets of the Over the Counter Bulletin Board. The Company is a merchant banking company that has a flexible investment mandate with a strategic focus on recurring revenue businesses. The company has recently focused its investments towards the thriving North American Business Process Outsourcing (BPO) market, as well as the Consumer Financing market by leveraging its recently acquired BPO division. The Company continues to look for acquisition opportunities in these key markets in order to continue to drive competitive advantages and growth.
ON BEHALF OF DEALNET CAPITAL CORP.
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This press release contains certain forward-looking statements with respect to the Corporation. These forward-looking statements, by their nature, involve risks and uncertainties that could cause actual results to differ materially from those contemplated. We consider the assumptions on which these forward-looking statements are based to be reasonable, but caution the reader that these assumptions regarding future events, many of which are beyond our control, may ultimately prove to be incorrect. These statements involve risks and uncertainties including, without limitation, DealNet's ability to successfully develop and market its products, consumer acceptance of such products, competitive pressures relating to price reductions, new product introductions by third parties, technological innovations, and overall market conditions. Consequently, actual events and results in future periods may differ materially from those currently expected.