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Dealnet Sets Date for Annual and Special Meeting of Shareholders

TORONTO, May 22, 2020 (GLOBE NEWSWIRE) -- Dealnet Capital Corp. (“Dealnet” or the “Company”) (TSX VENTURE: DLS) announced today that the Company will hold its annual and special meeting of shareholders (the “Meeting”) on September 22, 2020 in compliance with the OBCA and in response to a requisition received from a group of dissident shareholders, led by former Dealnet Executive Chairman and current Capital Partners CEO, Dr. Steven Small ("Small").

At the Meeting, shareholders of record will have the opportunity to vote on normal course business and any other necessary business, and matters related to the dissident requisition. The Meeting date has been selected to ensure that the Company is able to remain focused on its response to the COVID-19 pandemic, the safety and well-being of its employees, and the careful execution of Dealnet’s business continuity and turnaround plans. The Company also hopes that public gathering directives at that time will allow shareholders to attend the contested meeting, if they so wish.

There is no action for shareholders to take at this time. Dealnet will issue a management information circular in advance of the meeting date, which will include detailed information regarding the matters to be voted on and voting instructions. In the meantime, Dealnet has provided disclosure regarding Small’s time at the helm of the Company and how the new leadership team has acted decisively to address the legacy issues that he and his management team created. Shareholders are urged to review the disclosure at www.dealnetcapital.com/2020-news/ and the investor presentation at www.dealnetcapital.com/additional-info/.

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”).

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 (OEMs) 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 third-party institutions across Canada and the U.S. and to EcoHome.

For additional information please visit www.sedar.com.

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 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 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

Brent HouldenMichael Koshan
Chief Executive OfficerChief Financial Officer and Treasurer
(905) 695-8557 ext.1145(905) 695-8557 ext. 1113
bhoulden@dealnetcapital.commkoshan@dealnetcapital.com

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