THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
TORONTO, May 04, 2020 (GLOBE NEWSWIRE) -- Dealnet Capital Corp. (TSX Venture: DLS) (the “Company” or “Dealnet”). A group of concerned shareholders of Dealnet are announcing that they have issued a shareholder meeting requisition dated May 4, 2020 (the “Requisition”). The Requisition was issued by Capital Partners Corporation (“Capital Partners”) and Municipal Home Service Inc. (“MHS” and collectively with Capital Partners, the “Concerned Shareholders”) who hold, in the aggregate, approximately 8.96% of the Company’s issued and outstanding common shares.
The Requisition requires the Company to call and hold a meeting of shareholders (the “Meeting”) for the purpose of asking the shareholders to: (a) consider a special resolution to remove the current four members of the board of directors of the Company (the “Board”); and (b) vote on the election of Mark Silver, Steven Small, Gary Goodman and Shail Silver (collectively, the “Concerned Shareholder Nominees”) as directors of the Company.
Rather than convening a meeting of shareholders to allow shareholders to vote and to give management a forum to provide important information on their handling of the COVID-19 crisis and the Company’s business plan, the entrenched directors have continued to issue press releases with personally motivated, malicious and unproven allegations and incorrect and misleading facts. Capital Partners continues to take the high road and will not engage in responses to the incumbent Board’s detestable personal attacks. “The Concerned Shareholder Nominees’ have a plan to drive growth and value for Dealnet’s shareholders that we are eager to share. We have been left with no choice but to requisition the Meeting to present a choice of leadership to shareholders,” said Dr. Steven Small, CEO of Capital Partners.
Dealnet has 21 days to call the Meeting to address the matters raised in the Requisition. If Dealnet does not call the Meeting, the Concerned Shareholders will send notice of the Meeting to all shareholders. “We fully expect Dealnet’s entrenched directors to use every tactic and excuse to continue their self-serving delay of the Meeting in a desperate attempt to save their own jobs. We are eager to give shareholders the choice to vote for a new Board. We are ready to serve,” concluded Dr. Small.
The information contained in this news release does not and is not meant to constitute a solicitation of a proxy within the meaning of applicable securities laws. Shareholders are not being asked at this time to execute a proxy in favour of Concerned Shareholder Nominees. In connection with the Meeting, the Concerned Shareholders may file and mail a dissident information circular in due course in compliance with applicable securities laws.
Forward Looking Statement
This 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 Concerned 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 Concerned 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