Dominion Lending Centres Inc. Responds to Competition Bureau Inquiry
VANCOUVER, British Columbia, May 23, 2023 (GLOBE NEWSWIRE) — Dominion Lending Centres Inc. (TSX:DLCG) (“DLCG” or the “Corporation”) acknowledges receipt of a court order to produce certain documents, records and data in connection with an inquiry by the Competition Bureau. As noted in the Competition Bureau’s press release dated May 19, 2023: “The order, granted by the Federal Court of Canada on May 16, 2023, requires DLC to produce records and written information that are relevant to the Bureau’s investigation. There is no conclusion of wrongdoing at this time.”
Gary Mauris, Chairman and Chief Executive Officer, commented: “We will co-operate with the Bureau and will fully comply with the order. DLC competes with many other franchisors and providers of technology solutions and support services to mortgage brokers in Canada. DLC does not believe it is dominant in any market and does not believe it has engaged in any anti-competitive conduct. As noted by the Bureau, they are conducting an investigation and they have not reached any conclusions at this time.”
About Dominion Lending Centres Inc.
The DLC Group is Canada’s leading network of mortgage professionals. The DLC Group operates through Dominion Lending Centres and its three main subsidiaries, MCC Mortgage Centre Canada Inc., MA Mortgage Architects Inc. and Newton Connectivity Systems Inc., and has operations across Canada. The DLC Group’s extensive network includes ~8,000 agents and ~544 locations. Headquartered in British Columbia, the DLC Group was founded in 2006 by Gary Mauris and Chris Kayat.
Contact information for the Corporation is as follows:
Co-Chief Financial Officer
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