Original News Release
Dominion Lending buys 709,247 A shares for cancellation
Mr. Eddy Cocciollo reports
DOMINION LENDING CENTRES ANNOUNCES BLOCK SHARE REPURCHASE
Dominion Lending Centres Inc. (DLC Group) has purchased 709,247 Class A common shares of the corporation for a purchase price of $6,205,911 (being $8.75 per share). The shares were acquired for cancellation from a former employee pursuant to Section 4.7 of National Instrument 62-104, Take-Over Bids and Issuer Bids.
"We are pleased to have the opportunity to purchase a sizable block of shares for cancellation. This transaction aligns with our capital allocation strategy and represents a unique opportunity to create value for our shareholders. As we move forward, we remain focused on the growth of our business while at the same time prudently returning capital to shareholders through both dividends and share buybacks," commented Gary Mauris, chairman and chief executive officer, DLC Group.
About Dominion Lending Centres Inc.
Dominion Lending Centres is one of Canada's leading networks of mortgage professionals. DLC Group operates through Dominion Lending Centres and its three main subsidiaries, MCC Mortgage Centre Canada Inc., MA Mortgage Architects Inc. and Newton Connectivity Systems Inc., and has operations across Canada. Its extensive network includes over 8,500 mortgage professionals and over 500 franchises. Headquartered in British Columbia, Dominion Lending Centres was founded in 2006 by Gary Mauris and Chris Kayat.
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