Dealnet Capital Corp, commonly called as Dealnet, gets to expand its presence in Canada. It has been given the license to write consumer finance contracts in the Quebec province. Dealnet is a finance company that is currently offering finance of $20 billion in the home improvement finance market through its dealer network.
Dealnet has submitted an application for the license to write financial contracts in Quebec and it has been given approval by the Autorité des marchés financiers. With this approval, Dealnet has a larger presence in Canada. This allows the company to offer coast to coast service for its original equipment manufacturers consumer financing solutions.
The company opened its office in Montreal and also staffed the office. In fact, it has started to approve and fund consumer finance contracts through its Quebec OEM dealers.
Dealnet’s Interim CEO, Brent Houlden, said that expanding their operations to Quebec is a big milestone for the company. It gives them the perfect platform to offer full national coverage to OEM’s needs a one-stop solution for sales financing solution for dealers across Canada.
Dealnet also has received approval from TSX Venture Exchange (“TSXV”) to issue 2,777,777 shares to Paradigm Capital Corp. Each share is valued at $0.108.