TORONTO, Dec. 22, 2017 (GLOBE NEWSWIRE) -- ECN Capital Corp. (TSX:ECN) (“ECN Capital” or the “Company”) today
announced that it has entered into an automatic securities purchase plan (the “Plan”) with a designated broker in order to
facilitate repurchases of its outstanding common shares (the “Common Shares”) in connection with its previously established normal
course issuer bid (the “Bid”), which commenced on July 5, 2017. The Plan has been approved by the Toronto Stock Exchange ("TSX")
and will be implemented effective as of December 22, 2017.
Under the Plan, the Company's broker may purchase Common Shares under the Bid at times when the Company would
ordinarily not be permitted to, due to its regular self-imposed quarterly blackout periods. Before the commencement of any
particular internal trading black-out period, the Company may, but is not required to, instruct its broker to make purchases of
Common Shares under the Bid during the ensuing blackout period in accordance with the terms of the Plan. Such purchases will be
determined by the broker in its sole discretion based on parameters established by the Company prior to commencement of the
applicable blackout period in accordance with the terms of the Plan and applicable TSX rules. Outside of these blackout periods,
Common Shares will continue to be purchasable by the Company at its discretion under its Bid. The Plan will terminate on the
earliest of the date on which: (a) the purchase limit specified in the Plan has been reached, (b) the purchase limit under the Bid
has been reached, (c) the Company terminates the Plan in accordance with its terms, in which case the Company will issue a press
release confirming such termination, and (d) the Bid terminates.
Under the Bid, which commenced on July 5, 2017, the Company is authorized to repurchase for cancellation up to
36,999,219 Common Shares. As at the close of business on December 21, 2017, the Company has purchased 9,687,400 Common Shares under
the Bid.
About ECN Capital Corp.
With total owned and managed assets of more than $4.7 billion, ECN Capital Corp. (ECN) is one of North America's
leading finance companies. ECN Capital operates in four verticals: Home Improvement Finance, Commercial & Vendor Finance, Rail
Finance and Aviation Finance.
Contact:
John Wimsatt
647-649-4634
jwimsatt@ecncapitalcorp.com
Forward-looking Statements
This release includes forward-looking statements regarding ECN Capital and its business. Such statements are
based on the current expectations and views of future events of ECN Capital's management. In some cases the forward-looking
statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential",
"estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements.
Forward-looking statements in this press release include but, are not limited to, future purchases of Common Shares under the Bid
and/or the Plan. The forward-looking events and circumstances discussed in this release may not occur and could differ materially
as a result of known and unknown risk factors and uncertainties affecting ECN Capital, including risks regarding the equipment
finance industry, economic factors, and many other factors beyond the control of ECN Capital. No forward-looking statement can be
guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown
risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be
materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or
information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. A discussion of
the material risks and assumptions associated with this outlook can be found in ECN Capital's Annual Information Form dated March
30, 2017 and ECN Capital's September 30, 2017 MD&A each of which has been filed on SEDAR and can be accessed at www.sedar.com.
Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by
applicable securities laws, forward-looking statements speak only as of the date on which they are made and ECN Capital does not
undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future
events, or otherwise.