(TheNewswire)
Red De er, Alberta / TheNewswire / June 27,
2018 - Rifco Inc. (TSXV: RFC) (“Rifco” or the “Company”) the largest publicly-traded alternative auto
finance company in Canada, announced today that as part of its regular review of compensation, the Board of Directors has
approved the grant of 350,750 stock options to senior officers, senior managers and directors of the Company. The options were
granted at an exercise price of $1.26 per common share and will expire on June 26, 2023. The options will vest over four
years.
The Audit Committee and the Board of Directors have appointed Pricewaterhouse Coopers LLP (the “Successor
Auditor”) of Calgary, Alberta as auditor for the Corporation until the close of the next Annual General Meeting of the
Corporation.
The Board of Directors of the Company also announces that RSM Canada LLP (the “former Auditor”) has resigned,
at the request of the Corporation, as auditor of the Corporation, effective June 20, 2018.
There were no reservations in the Former Auditor's reports in connection with the financial statements of the
Corporation for the two most recently completed fiscal years; and any period subsequent to the most recently completed period for
which an audit report was issued and preceding the effective date of expiry of the Former Auditor's term of office.
The Corporation confirms that there have been no reportable events as defined in the National Instrument 51-102 and, in its
opinion, there are no reportable events pending.
The company would also like to correct an error from the press release regarding the fourth quarter highlights dated
June 19, 2018. The press release incorrectly stated that Rifco’s new Chief Credit Officer joined the company in November
2014. It should have stated that he joined the company in November 2017.
Rifco’s Annual Shareholders meeting will be held on September 11, 2018 at 3:00PM at the Holiday Inn Hotel & Suites
Red Deer South, 33 Petrolia Drive – Gasoline Alley, Red Deer County, Alberta. We look forward to meeting with our shareholders and
interested parties to detail the 2018 results and share the vision for the future.
About Rifco
Rifco Inc. is focused on being the best alternative auto finance company through its wholly owned subsidiary Rifco
National Auto Finance Corporation. Our mission is to help deserving Canadians own automobiles.
Rifco is Canada’s largest publicly traded alternative auto finance company.
Rifco seeks to create sustainable long-term competitive advantages through personalized partnerships with dealers,
innovative products, the use of industry-leading data and analytics, and leading collections practices. Rifco’s corporate
culture fosters employees that are highly engaged, innovative, and performance driven.
Rifco is committed to creating value for all stakeholders through profitable growth and predictable credit
performance, while pursuing its long-term vision of $500M in annual loan Originations.
The common shares of Rifco Inc. are traded on the
TSX Venture Exchange under the symbol “RFC”. There are 21.60 million shares (basic) outstanding and 23.30 million (fully diluted)
shares.
CONTACT:
Rifco Inc.
Warren Van Orman
Vice President and Chief Financial Officer
Telephone: 1-403-314-1288 Ext 7007
Fax: 1-403-314-1132
Email: vanorman@rifco.net
Website: www.rifco.net
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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