Rifco Nationwide Auto Finance Appoints New President and Publicizes a Strategic Initiative

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Crimson Deer, Alberta–(Newsfile Corp. – April 15, 2021) – Rifco Inc. (TSXV: RFC) (“Rifco” or the “Firm“) is happy to offer its buyers with an replace on the Firm.

Rifco Nationwide Auto Finance Inc. (“RNAF”), an entirely owned subsidiary of Rifco, has appointed Roger Saran as its President & Chief Working Officer reporting to Jeffrey Newhouse, Chief Government Officer of Rifco Inc. Previous to his promotion, Roger was Vice President and Chief Credit score Officer of RNAF, a job through which he led the event of the Firm’s revamped credit score underwriting course of, together with new customized credit score and pricing fashions. Roger brings greater than 20 years of expertise in monetary companies throughout various roles in advertising, operations, finance and analytics. In his new function, Roger will likely be liable for the operations of RNAF and total progress of the Firm in accordance with the strategic mandate established by the Board of Administrators.

Warren Van Orman will proceed in his present function of Chief Monetary Officer of Rifco Inc. Along with his present duties inside RNAF, Warren will take a extra lively function within the treasury and capital allocation capabilities on the mum or dad firm degree. This expanded function is in step with the Firm’s progress plans that embody strategic mergers and acquisitions.

As an initiative to foster a tradition of innovation and steady enchancment and deal with delivering an distinctive consumer expertise to all our stakeholders, Rifco will likely be collaborating with autologiQ Inc. (“autologiQ”), a web-based, consumer-focused, automobile administration firm, co-founded by Newhouse and based mostly in Oakville, Ontario. This initiative expands Rifco’s shelf of specialty automotive monetary options to incorporate autologiQ’s ‘Simple Month-to-month FundsTM (EMP) program, a web-based, and bodily point-of-sale restore financing answer for customers. Moreover, autologiQ Shoppers will achieve direct entry to Rifco’s specialty automotive monetary options, delivered by autologiQ’s digital platform and community of autologiQ Service Suppliers, commencing in Ontario.

The board is continuous its work on a full strategic evaluate of Rifco and RNAF with the target of figuring out its future strategic course. Extra updates will observe in the end.

About Rifco Nationwide Auto Finance Company

Rifco Nationwide Auto Finance Company (“RNAF”) operates with a function to assist its purchasers receive a secure and dependable automobile by offering various finance options. RNAF presently distributes its various finance merchandise not directly by choose automotive vendor companions.

Rifco is constructed on a basis of belief, respect, empowerment, accountability and keenness that are exhibited by each member of the Rifco workforce, as we collaboratively pursue our collective imaginative and prescient and achieve this in a fashion that’s in step with our function.

The frequent shares of Rifco Inc. are traded on the TSX Enterprise Alternate below the image “RFC”. There are 21.75 million shares (primary) excellent and 22.40 million (absolutely diluted) shares.

About autologiQ Inc.

autologiQ Inc. (“autologiQ”) is an on-line, consumer-focused, automobile administration firm. autologiQ’s digital platform connects its Shoppers with its community of service suppliers, delivering a handy, frictionless and hands-off expertise. autologiQ’s function is to increase the helpful lifetime of its Consumer’s autos by providing a proactive and absolutely digital, premium automobile administration expertise for one fastened and inexpensive month-to-month cost. Leveraging the related automobile know-how, autologiQ’s automobile administration companies are delivered digitally and on to the consumer’s doorstep. autologiQ’s One Cost, One Supplier, One Distinctive ExpertiseTM contains the price of the automobile, its financing and all preventative upkeep, put on & tear and mechanical repairs all through the possession interval, proactively serviced each 6,000-8,000km, or each 4 months.

Warning Concerning Ahead-Trying Data

This press launch might include forward-looking statements with respect to the Firm, its merchandise and operations. These statements usually might be recognized by use of forward-looking phrases equivalent to “might”, “will”, “anticipate”, “estimate”, “anticipate”, “intends”, “consider” or “proceed” or the unfavorable thereof or related variations. The precise outcomes and efficiency of the Firm mentioned herein might differ materially from these expressed or implied by such statements. Such statements are certified of their entirety by the inherent dangers and uncertainties surrounding future expectations. Particularly, however with out limiting the foregoing, this information launch incorporates forward-looking statements pertaining to the next: the longer term plans of Rifco.

Though the forward-looking statements contained on this information launch are based mostly upon elements and assumptions which administration of the Firm believes to be affordable, the Firm can’t guarantee buyers that precise outcomes will likely be in step with these forward-looking statements. Vital elements that would trigger precise outcomes to vary materially from expectations embody, amongst different issues, normal financial and market elements, the purported termination of the Association Settlement, future impacts of the pandemic on the Firm’s enterprise, competitors, adjustments in authorities rules, and the elements described below “Threat Components” within the Administration’s Dialogue and Evaluation of the Firm and the Round, each of that are integrated by reference herein and can be found at www.sedar.com. The cautionary statements qualify all forward-looking statements attributable to the Firm and individuals appearing on their behalf. Until in any other case said, all forward-looking statements converse solely as of the date of this press launch and the Firm has no obligation to replace such statements aside from in accordance with relevant securities legal guidelines.

CONTACT:
Rifco Inc.
Warren Van Orman
Vice President and Chief Monetary Officer
Phone: 1-403-314-1288 Ext 7007
Fax: 1-403-314-1132
Electronic mail: [email protected]
Web site: www.rifco.web

Neither TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.

To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/80584



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