Dominion Lending Centres Inc. Announces Sale of its Interest in Impact Communications
VANCOUVER, British Columbia, April 25, 2024 (GLOBE NEWSWIRE) -- Dominion Lending Centres Inc. (TSX:DLCG) (“DLCG” or the “Corporation”) is pleased to announce that it has completed a sale of its 52% interest in Cape Communications International Inc. (“Impact”) for aggregate cash proceeds of $3.71 million (the “Purchase Price”) to Impact management (the “Purchaser”). The Corporation will use the cash proceeds from the sale to fully repay its junior term facility.
Gary Mauris, Chairman and Chief Executive Officer of the Corporation, commented: “We are pleased to facilitate the sale of our interest in Impact back to management. Keith and Mark have been excellent partners and we wish them much success going forward. The sale marks a significant milestone for the Corporation as Impact was the last remaining asset from the Corporation’s former investment business and allows the Corporation to fully repay all amounts outstanding under its junior term facility.”
About Dominion Lending Centres Inc.
Dominion Lending Centres Inc. is Canada’s leading network of mortgage professionals. DLCG operates through Dominion Lending Centres Inc. and its three main subsidiaries, MCC Mortgage Centre Canada Inc., MA Mortgage Architects Inc. and Newton Connectivity Systems Inc., and has operations across Canada. DLCG extensive network includes over 8,000 agents and over 520 locations. Headquartered in British Columbia, DLC was founded in 2006 by Gary Mauris and Chris Kayat.
DLCG can be found on Twitter, Facebook and Instagram and LinkedIn @DLCGmortgage and on the web at .
Contact information for the Corporation is as follows:
| Eddy Cocciollo President 647-403-7320 | James Bell EVP, Corporate and Chief Legal Officer 403-560-0821 | ||
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