TORONTO, Oct. 27, 2017 (GLOBE NEWSWIRE) -- Dealnet Capital Corp. ("Dealnet" or the "Company") (TSX-V:DLS) today announced that it has commenced the search for a new Chief Executive Officer following the decision by the Company to replace the current CEO, Mr. Michael Hilmer, effective immediately.  The board of directors confirmed that Mr. Hilmer has also resigned as a director of the Company effective immediately.  The Company wishes Mr. Hilmer well in his future endeavours.

The board of directors has appointed Mr. Brent Houlden as interim Chief Executive Officer during the search process.  Mr. Houlden has extensive experience and knowledge in the areas of corporate strategy, finance and operations and has served as a director of the Company since 2015. For more than 20 years, Mr. Houlden was a senior partner with Deloitte where he held various leadership positions building Deloitte’s Consulting and Financial Advisory practices. Since retiring from Deloitte in 2014, Mr. Houlden has worked on a series of interim management assignments with public and private companies.

About Dealnet Capital Corp.

Dealnet is a specialty finance company powered by its proprietary, scalable engagement platform to service the $20 billion home improvement finance market through both dealer-based and direct homeowner-based originations of secured finance assets (equipment leases and loans). The company earns net finance income over the term of these assets and from fee income derived from the transaction support services that it provides to its dealer network. The Company also uses its engagement platform to provide customer support services on a contract basis to third-party institutions.

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Contact Information

Brent Houlden                                                            
Chief Executive Officer                                            
(905) 695-8557 ext.1145                                         
bhoulden@dealnetcapital.com 

John Sadler
Senior Director - Corporate Communications
(905) 695-8557 ext. 1348                            
jsadler@dealnetcapital.com