DealNet Capital Corp. (TSXV:DLS) entered into an agreement to acquire a portfolio of long term consumer finance rental contracts from an unknown dealer for CAD 29.2 million on December 23, 2016. DealNet Capital Corp. will pay the consideration through a combination of CAD 22.5 million in cash and CAD 6.7 million by issuing 12.5 million shares of DealNet Capital Corp. The common shares issued pursuant to the transaction will be subject to a hold period of four months from the date of issue. Additionally, the common shares will be subject to a three year timed release escrow commencing on closing. On closing of the transaction, DealNet Capital will simultaneously securitize certain contracts from the portfolio to fund the cash portion of the transaction. The completion of the transaction is subject to certain customary closing conditions, including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange, and is expected to close in early 2017. DealNet Capital Corp. (TSXV:DLS) completed the acquisition of long term consumer finance rental contracts from an unknown dealer on January 13, 2017.