Canada markets closed

Dealnet Capital Corp. (DLS.V)

TSXV - TSXV Real Time Price. Currency in CAD
Add to watchlist
0.15500.0000 (0.00%)
At close: 10:06AM EDT
Full screen
Previous Close0.1550
Open0.1550
Bid0.1550 x N/A
Ask0.1600 x N/A
Day's Range0.1550 - 0.1550
52 Week Range0.0300 - 0.1600
Volume139,600
Avg. Volume908,761
Market Cap43.846M
Beta (5Y Monthly)0.87
PE Ratio (TTM)N/A
EPS (TTM)-0.0010
Earnings DateApr. 03, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • GlobeNewswire

    Dealnet’s Value Triples With Shareholder Activism

    Dissident Shareholders Congratulate Simply GreenTORONTO, Oct. 19, 2020 (GLOBE NEWSWIRE) -- Dealnet Capital Corp. (TSX VENTURE: DLS) (“Dealnet” or the “Company”) and Simply Green Home Services Inc. (“Simply Green”) announced the successful take up of Dealnet’s shares on October 15, 2020. Capital Partners Corporation and Municipal Home Service Inc. (collectively, the “Dissident Shareholders” or “Dissidents’”) congratulate Lawrence Krimker and Simply Green on the successful acquisition of Dealnet shares. The Dissident Shareholders, represented by Canadian businessmen Shail Silver and Dr. Steven Small delivered a notice to Dealnet of their intent to nominate an alternate slate of directors to oust the failing incumbent board in a letter dated March 27th, 2020. On that day, Dealnet shares were trading at $0.05 and had hit an all-time low of $0.03 earlier in the week. The successful take up of Dealnet shares at $0.16 represents a 320% return for shareholders since the commencement of the Dissidents’ actions less than 9 months earlier.“We made every effort to drive value and advocate on behalf of all shareholders. This transaction frees shareholders from being trapped in an illiquid and mismanaged company,” said Shail Silver. The Dissidents put immense pressure on the incumbent Dealnet directors, ultimately resulting in a take-over bid that drove the share price up by more than 3 times and created over $31 million dollars in shareholder value.Simply Green is highly admired in the consumer finance industry. Their leadership, foresight, agility and access to capital allowed them to act quickly on the opportunity to acquire Dealnet for an attractive price. The Dissident Shareholders will tender their combined 8.96% of Dealnet shares and encourage the remainder of shareholders to do the same. “Although short of our intended goal to drive Dealnet with a new board well beyond its $0.29 breakup value, our priority was always to serve the shareholders. Our efforts led the price of the shares to a multiple that shareholders could accept,” concluded Dr. Steven Small.Forward Looking StatementThis news release contain forward-looking statements and forward-looking information within the meaning of applicable securities laws. All statements and information, other than statements of historical fact, included herein are forward-looking statements, including, without limitation, statements regarding activities, events or developments that the Dissident Shareholders expect or anticipate may occur in the future. These forward-looking statements can be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “believe” or “continue” or similar words and expressions or the negative thereof. There can be no assurance that the plans, intentions or expectations upon which these forward-looking statements are based will occur or, even if they do occur, will result in the performance, events or results expected. We caution readers not to place undue reliance on forward-looking statements contained herein, which are not a guarantee of performance, events or results and are subject to a number of risks, uncertainties and other factors that could cause actual performance, events or results to differ materially from those expressed or implied by such forward-looking statements.Readers are cautioned that all forward-looking statements involve known and unknown risks and uncertainties, including those risks and uncertainties detailed in the continuous disclosure and other filings of Dealnet, copies of which are available on the System for Electronic Document Analysis at www.sedar.com. We urge you to carefully consider those risks and uncertainties. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. Unless expressly stated otherwise, the forward-looking statements included herein are made as of the date of this news release and the Dissident Shareholders disclaim any obligation to publicly update such forward-looking statements, except as required by applicable law.Contact Information Dr. Steven Small (647) 699-5066 ssmall@cpcorp.ca

  • GlobeNewswire

    Correction to Announcement of Simply Group Acquisition Corp.’s Successful Take-up of Dealnet Shares

    TORONTO, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Dealnet Capital Corp. (“Dealnet” or the “Company”) (TSX VENTURE: DLS) and Simply Group Acquisition Corp. (the “Offeror”), part of the Simply Group of Companies, are issuing a correction to the press release filed October 15, 2020 titled “Dealnet and Simply Group Acquisition Corp. Announce Successful Take-up of Shares under the Offer.” Due to a technical error that failed to report a valid tender before the expiry of the offer, the amount of common shares (“Common Shares”) being taken up and paid for under the offer has increased to 216,616,438 (representing approximately 76.58% of the issued and outstanding Common Shares). The aggregate consideration payable for the Deposited Shares is now C$34,658,630.08. Immediately prior to taking up the Deposited Shares, Lawrence Krimker who beneficially controls the Offeror, owned or controlled 155,000 Common Shares (representing approximately 0.05% of the issued and outstanding Common Shares). Immediately after taking up the Deposited Shares, the Offeror owns or controls 216,616,438 Common Shares (representing approximately 76.58% of the issued and outstanding Common Shares).All other information contained within the press release is accurate. The updated information contained above also serves as correction to information contained in the Offeror’s Notice of Extension dated October 14, 2020, which was mailed to shareholders of the Company on October 15, 2020.Advisors Dealnet has engaged Goodmans LLP as its legal advisor, Origin Merchant Partners as its financial advisor and Longview Communications & Public Affairs as its strategic communications advisor in connection with the Offer.The Offeror has engaged Stikeman Elliott LLP as its legal advisor and Raymond James Ltd. as its financial advisor in connection with the Offer. Kingsdale Advisors is acting as information agent and depository.Information on Depositing Your Common Shares The Offeror has retained Kingsdale Advisors to act as depositary and information agent (the “Depositary and Information Agent”) for the Offer. Shareholders can obtain copies of the take-over bid circular and related Offer materials at no charge from the Depositary and Information Agent.For additional information, Shareholders can contact the Depositary and Information Agent 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”). Dealnet’s head office is located at 130 King Street West, Suite 501, Toronto, ON M5X 1C7.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 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 $1.25 billion in assets under management, Simply Group (mysimplygroup.com) provides industry leading, high-efficiency, home comfort equipment and financing solutions to customers, to modernize their residential, commercial and industrial properties. Simply Group knows 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 Canadian SME National Business Awards. The Offeror is located at 2225 Sheppard Avenue East, Suite 800, North York, ON M2J 5C2.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 most recent 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. Brent Houlden Chief Executive Officer (905) 695-8557 ext.1145 bhoulden@dealnetcapital.comSimply Group Acquisition Corp. Kingsdale AdvisorsToll free: 1-866-851-3214 Local: 416-867-2272 contactus@kingsdaleadvisors.com.

  • GlobeNewswire

    Dealnet and Simply Group Acquisition Corp. Announce Successful Take-up of Shares under the Offer

    Offer is Extended to October 26, 2020TORONTO, Oct. 15, 2020 (GLOBE NEWSWIRE) -- Dealnet Capital Corp. (“Dealnet” or the “Company”) (TSX VENTURE: DLS) and Simply Group Acquisition Corp. (the “Offeror”), part of the Simply Group of Companies, announce that each of the conditions to the take-over bid made by the Offeror for the common shares of Dealnet (“Common Shares”) for $0.16 in cash per Common Share (the “Offer”) was satisfied by the initial expiry time of the Offer. At the initial expiry time, 210,116,438 Common Shares (representing approximately 74.28% of the issued and outstanding Common Shares) (the “Deposited Shares”) were deposited to the Offer and have now been taken up by the Offeror. The aggregate consideration payable for the Deposited Shares is $33,618,630.08. Immediately prior to taking up the Deposited Shares, the Offeror owned or controlled 155,000 Common Shares (representing approximately 0.05% of the issued and outstanding Common Shares). Immediately after taking up the Deposited Shares, the Offeror owns or controls 210,116,438 Common Shares (representing approximately 74.28% of the issued and outstanding Common Shares). The Offeror is also announcing the extension of the Offer until October 26, 2020 at 8:00 p.m. (Toronto time) (“Extended Expiry Time”) in accordance with applicable securities laws, and in order to allow remaining shareholders who have not yet tendered the opportunity to realize the significant 93% premium (to the 90-day volume weighted average price (“VWAP”) of the Common Shares on the TSX Venture Exchange (the “TSX-V”) for the period ending August 21, 2020).“We would like to thank all of the Dealnet shareholders who have already taken advantage of this opportunity to realize immediate value and tendered their shares. We are pleased to have taken up over 74% of Dealnet’s shares,” said Lawrence Krimker, CEO of The Simply Group.The Offer is being extended for the statutory mandatory extension period of 10 days to October 26, 2020 at 8:00 p.m. (Toronto time) so that shareholders who have not yet tendered their Common Shares will have the opportunity to tender to the Offer.The remaining shareholders who have yet to tender their Common Shares can still receive the 93% premium (to the 90-day VWAP of the Common Shares on the TSX-V for the period ending August 21, 2020) so long as they act now to ensure their Common Shares are deposited in advance of the Extended Expiry Time. Some financial intermediaries may impose earlier deadlines and shareholders are encouraged to submit instructions well in advance of the deadline.The purpose of the Offer is to enable the Offeror to acquire, on the terms and subject to the conditions of the Offer, all of the issued and outstanding Common Shares. The Offeror intends to acquire any Common Shares not deposited under the Offer through a subsequent acquisition transaction. The exact timing and details of any such transaction will depend upon a number of factors. Although the Offeror intends to propose a subsequent acquisition transaction generally on terms similar to the Offer, it is possible that such a transaction may not be proposed, may be delayed or abandoned or may be proposed on different terms. Accordingly, the Offeror reserves the right not to propose a subsequent acquisition transaction, or to propose a subsequent acquisition transaction on terms other than those of the Offer.Advisors Dealnet has engaged Goodmans LLP as its legal advisor, Origin Merchant Partners as its financial advisor and Longview Communications & Public Affairs as its strategic communications advisor in connection with the Offer.The Offeror has engaged Stikeman Elliott LLP as its legal advisor and Raymond James Ltd. as its financial advisor in connection with the Offer. Kingsdale Advisors is acting as information agent and depository.Information on Depositing Your Common Shares The Offeror has retained Kingsdale Advisors to act as depositary and information agent (the “Depositary and Information Agent”) for the Offer. Shareholders can obtain copies of the take-over bid circular and related Offer materials at no charge from the Depositary and Information Agent.For additional information, Shareholders can contact the Depositary and Information Agent 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”). Dealnet’s head office is located at 130 King Street West, Suite 501, Toronto, ON M5X 1C7.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 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 $1.25 billion in assets under management, Simply Group (mysimplygroup.com) provides industry leading, high-efficiency, home comfort equipment and financing solutions to customers, to modernize their residential, commercial and industrial properties. Simply Group knows 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 Canadian SME National Business Awards.The Offeror is located at 2225 Sheppard Avenue East, Suite 800, North York, ON M2J 5C2.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 most recent 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. Brent Houlden Chief Executive Officer (905) 695-8557 ext.1145 bhoulden@dealnetcapital.comSimply Group Acquisition Corp. Kingsdale Advisors Toll free: 1-866-851-3214 Local: 416-867-2272  contactus@kingsdaleadvisors.com.