DealNet Announces Conversion of Convertible Debentures
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 01/22/15 -- ("DealNet" or the "Company") (CSE: DLS) is pleased to announce that it has received additional conversion notices for the conversion of $185,000 of the Company's outstanding convertible debentures (the "Convertible Debentures"), which mature in December 2015. On December 16, 2014 the Company announced an incentive offer (the "Incentive Program") for holders to convert their Convertible Debentures into common shares of the Company on or before December 31, 2014. The additional conversion notices were received after the December 31, 2014 deadline, however the Company decided to extend the deadline and offer the incentive to these holders wishing to convert.
The Incentive Program resulted in a total of $2,140,000 of principal being converted, of which $1,955,000 was converted effective December 31, 2014, and the remainder effective January 22, 2015 (representing a total conversion rate of approximately 89%). At the present time, the Company does not expect to receive any further conversions under the previously announced Incentive Program. Following this most recent conversion, the total outstanding principal of the Company's Convertible Debentures was $275,000.
As a result of this conversion of the Convertible Debentures noted above, the Company issued 925,000 common shares with an effective date of January 22, 2015. In addition, as part of the Incentive Program, the Company issued 925,000 common share purchase warrants and 55,500 common shares with an effective date of January 22, 2015. The securities issued pursuant to the Incentive Program are subject to a hold period until May 23, 2015.
About DealNet Capital Corp.
DealNet Capital Corp. is a public company that trades under the symbol DLS on the Canadian Securities Exchange. DealNet Capital has an investment mandate to acquire and develop investee companies focused on generating high margin recurring revenue through innovative customer engagement models. The Company has focused its investments towards two key industry verticals: the thriving North American business process outsourcing ("BPO") market through its wholly-owned subsidiaries, OC Communications Group Inc. ("OCCGI") and Impact Mobile Inc. ("Impact Mobile"); and the consumer financing market through its wholly-owned subsidiary, One Dealer Inc. ("One Dealer").
ON BEHALF OF DEALNET CAPITAL CORP.
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The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
Forward-looking Statements
This press release contains certain forward-looking statements with respect to the Company. 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.
Contacts:
DealNet Capital Corp.
Bob Cariglia
President and CEO
+1-416-806-8816
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Datum: 22.01.2015 - 15:33 Uhr
Sprache: Deutsch
News-ID 366323
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