The network expects to continue growing aggressively
Dominion Lending Centres has bought back the piece of itself that it sold in 2016, and in the process has taken control of Founders Advantage Capital Corp.
Founders Advantage Capital announced that it has entered a letter of intent to acquire the remaining 40% interest in DLC, but the latter’s Co-Founder and President Gary Mauris will assume the role of president and CEO of Founders. Additionally, DLC Co-Founder Chris Kayat will become Executive Vice-Chairman of the Corporation.
“It’s not really a sale,” said Mauris. “What we’re doing is rolling in our equity of Dominion into Founders Advantage Capital, which makes us the largest shareholder of Founders Advantage Capital. We now own 57% of that publicly traded company, and that includes Dominion Lending Centres Group of Companies and the other assets of Founders.
“We had 40% of Dominion Lending Centres, but now we own 57% of it, and we also own 57% of the public company.”
