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Rifco Inc. (TSXV: RFC) announced Sym-Tech has increased its strategic Investment in Rifco

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Rifco National Auto Finance has been providing Canadians with non-prime auto financing options since 2002, through a growing network of selected new and used vehicle dealers in every province except Quebec.

Additional Information:

Company: Rifci Inc
Website: http://www.rifco.net
Stock Symbol: TSXV: RFC
Date Published: Aug 25, 2016
Transcript: Available

Video Transcript:

I’m Tia Borden for Investmentpitch Media

Rifco Inc, operating as Rifco National Auto Finance, announced that Sym-Tech, which operates as Sym-Tech Dealer Services, has increased its strategic investment in Rifco.

Sym-Tech and its related parties now own 10.99% or approximately 2.4 million of Rifco’s outstanding shares.

Rifco National Auto Finance has been providing Canadians with non-prime auto financing options since 2002, through a growing network of selected new and used vehicle dealers in every province except Quebec.

Rifco’s auto financing is available to both franchise and independent dealers who want to create a partnership

For more than 45 years, Sym-Tech has been a partner to the retail automotive industry with the mandate to help improve dealership Business Office performance to ensure a positive buying experience for the customer.

The privately-held and operated Canadian company supports more than 600 new car dealers by providing industry-leading training programs, reliable protection products, finance and insurance software and on-going support.

Chris Cawston, President and GM of Sym-Tech added: “"We are excited about the opportunity to collaborate with Rifco. Rifco's automotive lending focus on quick credit decisions, expedited funding and outstanding dealer service pairs perfectly with Sym-Tech's professional F&I performance driven solutions and we anticipate delivering increased dealer F&I performance and customer satisfaction."

Bill Graham, President & CEO of Rifco, stated: “Today's automotive industry is seeking refreshing, creative and value driven business office solutions for dealers to deliver to their consumers. We are looking forward to working with the Sym-Tech team toward innovative F&I opportunities.”

Rifco recently reported its 29th consecutive quarter of profitability.

The shares are trading at $1.70, and with 21.6 million shares outstanding, Rifco is capitalized at $36.7 million.

For more information, please visit the company’s website at www.rifco.net, contact Lance Kadatz, VP & CFO, at 403-314—1288 ext 7007, or email kadatz@rifco.net.

I’m Tia Borden for Investmentpitch Media