reports
Rifco Annual Charity Golf Classic Raises Nearly $65,000 for the Ronald...
Red Deer, Alberta--(Newsfile Corp. - September 2, 2021) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company") announced today that the Company and its staff raised nearly $65,000 for Ronald McDonald House Charities® Alberta ("RMHC") through its 9th Annual Charity Golf Classic. Rifco would like to extend our gratitude for the strong sponsorship support received for the event held at the Innisfail Golf and Country Club on August 25, 2021. Rifco welcomed participants from across the country. The winning team of Frank Van Eaton, Jesse Van Eaton, Kyle Pess and Landon Kletke took home the coveted "Rif...
Rifco Reports First Quarter Results
Red Deer, Alberta--(Newsfile Corp. - August 25, 2021) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company") is pleased to announce its consolidated first quarter results for the period ended June 30, 2021.First Quarter Highlights Rifco reported quarterly Adjusted Net Income before Taxes of $1.8M and $0.08 per share. This is 120% higher than the same quarter in the prior year. Adjusted Net Income before Taxes removes the effects of the non-cash change in provision for impairment and one-time strategic review expenses. Net income including these items and taxes, was $2.3M and $0.11 per share.The...
Rifco Inc. Receives Buyout Offer from Management
Transaction HighlightsAnticipated consideration of $1.15 per Rifco Share represents a significant premium of approximately 28% to the closing price of Rifco Shares on August 9, 2021 100% cash consideration would provide immediate liquidity and certainty of value for Rifco shareholdersAnticipated support from 64% of holders of Rifco Shares in favour of the TransactionJeffrey Newhouse steps down as CEO of RifcoRed Deer, Alberta--(Newsfile Corp. - August 10, 2021) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company"), announced today that is has received a non-binding proposal from Warren Van Orman...
Rifco Reports Fourth Quarter Results
Red Deer, Alberta--(Newsfile Corp. - June 17, 2021) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company"), is pleased to announce its consolidated results for the fourth quarter and the year ended March 31, 2021.Annual Highlights Rifco reported year-to-date Adjusted Net Income before Taxes of $4.9M and $0.23 per share. This is 283% higher than the prior year. Adjusted Net Income before Taxes removes the effects of the non-cash change in provision for impairment and one-time strategic review expenses. Net income including these items and taxes, was $4.8M and $0.22 per share.The annualized Credi...
Rifco Grants Options
Red Deer, Alberta--(Newsfile Corp. - April 23, 2021) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company") announced today that as part of its regular review of compensation, the Board of Directors has approved a grant of 300,000 stock options to the non-management directors of the Company. The options were granted at an exercise price of $0.75 per common share and will expire on April 22, 2026. The options will vest over four years. Further, the board has revised its pay structure. Non-management directors will receive $30,000 annually for their services, and the chair will receive an addition...
Rifco National Auto Finance Appoints New President and Announces a Str...
Red Deer, Alberta--(Newsfile Corp. - April 15, 2021) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company") is pleased to provide its investors with an update on the Company. Rifco National Auto Finance Inc. ("RNAF"), a wholly owned subsidiary of Rifco, has appointed Roger Saran as its President & Chief Operating Officer reporting to Jeffrey Newhouse, Chief Executive Officer of Rifco Inc. Prior to his promotion, Roger was Vice President and Chief Credit Officer of RNAF, a role in which he led the development of the Company's revamped credit underwriting process, including new custom credit and ...
Rifco Inc: 1 director bought
A director at Rifco Inc bought 44,500 shares at 0.690CAD and the significance rating of the trade was 68/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly show...
Corrected - Rifco Reports Third Quarter Results
Rifco advises that its news release of February 24, 2021 incorrectly stated the Net income per common share basic and diluted as $0.057. The correct value is $0.008. The corrected press release follows in full below:Red Deer, Alberta--(Newsfile Corp. - February 25, 2021) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company"), is pleased to announce its consolidated third quarter results for the period ended December 31, 2020. Third Quarter Highlights On November 27, 2020, Rifco declared a $0.35 per common share special dividend. The dividend was paid in cash on December 7, 2020 in...
Rifco Reports Third Quarter Results
Red Deer, Alberta--(Newsfile Corp. - February 24, 2021) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company") is pleased to announce its consolidated third quarter results for the period ended December 31, 2020.Third Quarter Highlights On November 27, 2020, Rifco declared a $0.35 per common share special dividend. The dividend was paid in cash on December 7, 2020 in the amount of $7.6M.Rifco reported year-to-date Adjusted Net Income before Taxes of $3.8M and $0.18 per share. This is 518% higher than the prior year. This is the best Adjusted Net Income before Taxes the Company has achieved si...
Rifco Provides Update
Red Deer, Alberta--(Newsfile Corp. - January 21, 2021) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company") is pleased to provide its investors with an update on the Company. Rifco, now led by a new Chief Executive Officer, Jeffrey Newhouse, and a new Board of Directors, has completed its initial review of the current operations of Rifco National Auto Finance Corporation ("RNAF"), Rifco's single, wholly owned, subsidiary operating entity. The Board together with Newhouse have established the following near-term objectives for RNAF:Right-size the organization relative to its current client b...
Rifco Announces Results of the Annual General and Special Meeting of S...
Red Deer, Alberta--(Newsfile Corp. - December 14, 2020) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company"), is pleased to announce the results of its annual general and special meeting of the shareholders held earlier today (the "Meeting") at which 73.07% of the issued and outstanding shares were represented. The board of directors was fixed at four and each of the nominees of the Rifco concerned shareholders were duly elected at the Meeting.As a result, Tim Peterson, Jeffrey Newhouse, Jared Priestner, and Sean Aylward shall serve as directors of the Company until the next annual general mee...
Rifco Inc. Announces Meeting Update and Settlement Agreement with Conc...
Red Deer, Alberta--(Newsfile Corp. - December 8, 2020) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company"), a leading Canadian alternative auto finance company is pleased to provide the following updates.Meeting Location UpdateRifco Inc. announces that its annual general and special meeting of shareholders (the "Meeting") scheduled for Friday, December 11, 2020 at 3:00 p.m. (MST) at the Holiday Inn Hotel & Suites Red Deer South has been changed from an in-person Meeting to a virtual Meeting to be held at the same time and on the same date.As the City of Red Deer and the Province of Alberta hav...
Rifco Inc. Provides Update on Court Proceedings and Confirms That the ...
Red Deer, Alberta--(Newsfile Corp. - November 27, 2020) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company"), a leading Canadian alternative auto finance company, is providing an update on court proceedings and the proposed management buyout.Further to the originating notice ("Originating Notice") brought by 933672 Alberta Ltd., Tim Peterson, Ruth Peterson, Sorbrick Capital Corp., 812787 Alberta Ltd., Big Country Holdings Ltd., Norman Storch and Jeffrey Newhouse (collectively the "Concerned Shareholder Group") the Company was successful in obtaining an adjournment of the matter on November 2...
Rifco Inc. Announces Correction to Due Bill Date on Previously Announc...
Red Deer, Alberta--(Newsfile Corp. - November 27, 2020) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company") advises that its news release of November 27, 2020 (the "Prior Release") incorrectly identified December 4, 2020 as being two trading days prior to the Record Date. The due bill trading will commence on December 4, 2020, being one trading day prior to the Record Date. All defined terms have the meaning ascribed thereto in the Prior Release. Caution Regarding Forward-Looking InformationThis press release contains forward-looking statements with respect to the Company, including statements...
Rifco Inc. Declares Special Cash Dividend of $0.35 per Common Share
Red Deer, Alberta--(Newsfile Corp. - November 27, 2020) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company"), a leading Canadian alternative auto finance company, announces today that the board of directors of the Company has declared a special dividend of $0.35 per common share (the "Special Dividend"), payable in cash on December 10, 2020 (the "Payment Date"). Shareholders of record as of the close of business on December 7, 2020 (the "Record Date") will be entitled to the Special Dividend. Payment of the Special Dividend is not subject to any conditions. The TSX Venture Exchange ("TSXV") has...
Rifco Inc. Responds to Concerned Shareholder Group Originating Notice
Red Deer, Alberta--(Newsfile Corp. - November 25, 2020) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company"), a leading Canadian alternative auto finance company, and certain of its directors and officers, have been served with an originating notice ("Originating Notice") by 933672 Alberta Ltd., Tim Peterson, Ruth Peterson, Sobrick Capital Corp., 812787 Alberta Ltd., Big Country Holdings Ltd., Norman Storch and Jeffrey Newhouse (collectively the "Concerned Shareholder Group"). The Concerned Shareholder Group, acting in concert, has a meaningful ownership interest in the Company. The assertion...
Rifco Reports Second Quarter Results
Red Deer, Alberta--(Newsfile Corp. - November 9, 2020) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company") the largest publicly-traded alternative auto finance company in Canada, is pleased to announce its consolidated second quarter results for the period ended September 30, 2020.Second Quarter Highlights Rifco reported year-to-date Adjusted Net Income before Taxes of $3.1M and $0.15 per share. This is 345% higher than the prior year. This is the best Adjusted Net Income before Taxes the Company has achieved since 2016 despite the ongoing COVID-19 pandemic. Adjusted Net Income before Taxe...
Rifco Provides a Corporate Update
Red Deer, Alberta--(Newsfile Corp. - October 13, 2020) - Rifco Inc. (TSXV: RFC) ("Rifco" or the "Company") would like to provide the following information as a form of corporate update.Rifco's profitability is generating significant shareholder value, including $2.2M in net income in the quarter ending June 2020.Rifco's financial position is exceptionally strong with $1.77 per share of adjusted book value, and attractive, flexible, long term funding relationships in place.Rifco's industry leading achievements in advanced decision making and loan applications processing automation provides for...
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
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