Star Metro - AmeriTrust Becomes the National Lease Partner for myAutoloan.com

myAutoloan.com is a privately held, direct to consumer online automotive finance marketplace that was founded in 2003. The company is headquartered in Irving, Texas and is operated by Horizon Digital Finance, LLC. myAutoloan leverages technology to connect consumers with multiple automotive loan offers, offering direct-to-consumer and marketplace lending solutions for new and used vehicles, loan refinancing, private party purchases, and lease buyouts. myAutoloan.com's patented platform receives over 200,000 consumer applications annually and is authorized to operate in 48 states and the District of Columbia.

The National Lease Partner agreement will be for an initial period of 24 months, with an automatic annual renewal. AmeriTrust is granted the exclusive right under the agreement to all lease applications generated by myAutoloan.com. Each party can terminate the agreement with 90 days notice prior to the end of term.

Jeff Morgan, AmeriTrust's CEO, commented: "We believe the partnership with myAutoloan.com is a great opportunity for AmeriTrust to generate new and used vehicle leasing and loan financing contracts to myAutoloan.com's customers nationwide. By utilizing AmeriTrust's leasing technology and platform, myAutoloan.com will be able to provide its customers with both automotive lease and loan financing alternatives, side-by-side, providing them with increased choice and flexibility. Our respective technology teams are now working on integrating our two platforms. We are looking forward to a long and prosperous relationship with myAutoloan.com."

Gregory Thibodeau, myAutoloan.com's co-founder and CEO, stated: "We are excited to be able to offer our customers new and used vehicle lease financing options, in addition to our current offering of loan financing. We believe the many benefits of AmeriTrust's lease financing will lead to increased applications being financed through myAutoloan.com's automotive financing marketplace."

The National Lease Partnership with myAutoloan.com will commence upon the completion of funding facilities that AmeriTrust is currently working to finalize with several funding partners and which will involve closing on the Company's previously announced brokered offering to support the funding facilities. (AmeriTrust Announces Brokered Offering of up to $60,000,000 - AmeriTrust Financial Technologies Inc.). The Company is working to complete the brokered offering in the near term.

About AmeriTrust Financial Technologies Inc.

AmeriTrust Financial Technologies Inc., listed on the TSX Venture Exchange, OTCQB, and Frankfurt markets, is a finance solution and fintech provider disrupting the automotive industry. AmeriTrust's integrated, cloud-based transaction platform facilitates transactions amongst consumers, dealers, and funders. AmeriTrust's platform is being made available across the United States.

For further information, please visit the AmeriTrust website or contact:

Shibu Abraham
Chief Financial Officer and Director
E: [email protected]
P: 800-600-6872

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

Certain information included herein is forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information may include statements regarding the objectives, business strategies to achieve those objectives, expected financial results (including those in the area of risk management), economic or market conditions, and the outlook of or involving AmeriTrust, its subsidiaries and its businesses. Such information is typically identified by words such as "anticipate", "believe", "continue", "estimate", "expect", "plan", "forecast", "future", "outlook, "guidance", "may", "project", "should", "strategy", "target", "will" or similar expressions suggesting future outcomes.

Forward-looking information is provided for the purpose of providing information about management's expectations and plans about the future and may not be appropriate for other purposes. Forward-looking information herein includes the execution of funding facilities that may include equity, debt or mezzanine financing and are based on various assumptions and expectations that AmeriTrust believes are reasonable in the circumstances. No assurance can be given that these assumptions and expectations will prove to be correct. Those assumptions and expectations are based on information currently available to AmeriTrust, including information obtained from third party industry analysts and other third-party sources, and the historic performance of AmeriTrust's businesses. Such assumptions include the timing of receipt of necessary regulatory approvals, anticipated financial performance, current business and economic trends, the amount and timing of future dividends paid by AmeriTrust, business prospects, utilization of tax basis, regulatory developments, currency, exchange and interest rates, commodity prices relating to the automotive industry, trading data, cost estimates, our ability to obtain financing on acceptable terms, and statements regarding net working capital, anticipated operational and capital expenditure reductions, the length and impact of COVID-19 on AmeriTrust's businesses and customers and capital expenditure requirements of AmeriTrust, the assumptions set forth under the "Financial Outlook" sections of our MD&A. The forward-looking information is also subject to the risks and uncertainties set forth below.

By its very nature, forward-looking information involves numerous assumptions, risks and uncertainties, both general and specific. Should one or more of these risks and uncertainties materialize or should underlying assumptions prove incorrect, as many important factors are beyond our control, AmeriTrust's actual performance and financial results may vary materially from those estimates and intentions contemplated, expressed or implied in the forward-looking information. These risks and uncertainties include those relating to incorrect assessments of value when making acquisitions, increases in debt service charges, the loss of key personnel, the anticipated impact of the COVID-19 pandemic, the impact of increased inflation and the expected economic recession, fluctuations in foreign currency and exchange rates, inadequate insurance coverage, liability for cash taxes, counterparty risk, compliance with environmental laws and regulations, reduced customer demand, operational risks involving our facilities, force majeure, labour relations matters, our ability to access external sources of debt and equity capital, and the risks identified in our MD&A under the heading "Risk Factors". The preceding list of assumptions, risks and uncertainties is not exhaustive.

When relying on our forward-looking information to make decisions with respect to AmeriTrust, investors and others should carefully consider the preceding factors, other uncertainties and potential events. Any forward-looking information is provided as of the date of this document and, except as required by law, AmeriTrust does not undertake to update or revise such information to reflect new information, subsequent or otherwise. For the reasons set forth above, investors should not place undue reliance on forward-looking information.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws, unless an exemption from such registration is available.

SOURCE: AmeriTrust Financial Technologies Inc.

View the original press release on ACCESS Newswire

L.Pelletier--SMC