Executing on legacy business winddown and capital redeployment
TORONTO, Oct. 17, 2018 (GLOBE NEWSWIRE) -- ECN Capital Corp. (TSX: ECN) (“ECN” or the “Company”), announced
today that it has closed the sale of Element Rail Leasing I (“ERL I”) representing approximately 55% of its rail finance portfolio
to affiliates of Trinity Industries Leasing Company on the terms previously announced.
About ECN Capital Corp.
With managed and advised assets of more than US$28 billion, ECN Capital Corp. (TSX: ECN) is a leading provider
of prime credit portfolios to more than ninety US financial institutions. ECN Capital originates, manages and advises on prime
credit assets offering unsecured and secured consumer portfolio solutions as well as credit card portfolios. These services are
offered through three operating businesses: Service Finance, Triad Financial Services and The Kessler Group.
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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 those relating to the future financial and operating performance of ECN
Capital, the strategic advantages, business plans and future opportunities of ECN Capital and the ability of ECN Capital to access
adequate funding sources, identify and execute on acquisition opportunities and transition to an asset management business. 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 June 30, 2018 MD&A and Alternate
AIF Disclosure Document dated March 19, 2018 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.