Vancouver, British Columbia--(Newsfile Corp. - July 21, 2026) - OCAL Financial Inc. (TSXV: OCAL) ("OCAL" or the "Company") is pleased to announce that it has completed its previously announced qualifying transaction with Ronin Ventures Corp. by way of three-cornered amalgamation (the "Qualifying Transaction"), and that the common shares of the Company are expected to commence trading on the TSX Venture Exchange (the "Exchange") under the symbol "OCAL" at the opening of market on July 21, 2026. The Company begins its life as a public issuer as a fully remote, finance-first automotive platform with an operating history, motor-dealer licensing in two provinces, and expansion plans across Canada and the U.S.
In connection with the Qualifying Transaction, Ronin Ventures Corp. changed its name to OCAL Financial Inc. and the Company now carries on the business of OCAL. After giving effect to the Qualifying Transaction and the concurrent subscription-receipt financing, the Company has 36,667,803 common shares issued and outstanding. Securities held by principals of the Company are subject to escrow in accordance with the requirements of the Exchange. Further information regarding the Company, its business and its financial position is set out in the Company's Filing Statement dated July 9, 2026, available under the Company's profile on SEDAR+ at www.sedarplus.ca.
The board of directors and management of the Company are: Matthew Friesen, Chairman and Director, co-founder of OCAL and a director and chief executive officer of a private equity investment firm; Mehdi Moghareh, Chief Executive Officer and Director, an automotive-industry veteran with extensive experience in dealership operations, logistics and platform development; Terence Lee, Chief Financial Officer and Corporate Secretary, a Chartered Professional Accountant with experience in financial reporting under IFRS; Michael Stier, Director, an independent capital-markets professional with experience across corporate structure, finance and public-company governance; and Robert Birmingham, Director.
OCAL operates a virtual automotive dealership built around a simple principle: get the customer approved first, then source the right vehicle to fit that approval. The Company operates entirely remotely and does not carry owned inventory; instead, it sources each vehicle after a customer is approved, drawing on national auction and partner channels. OCAL generates revenue from vehicle sales and related finance and protection products, and does not hold consumer loans or assume credit-default risk. Its proprietary technology platform - including AI-native workflow orchestration, a lender-routing credit-intelligence system, a voice AI platform, and a centralized business-intelligence system - is purpose-built for automotive transactions and is designed to compress cycle times and improve consistency as volume grows.
The Company's public listing arrives as consumer behaviour and lender infrastructure in Canada increasingly favour a digital-first model. Published industry data indicates that a majority of Canadian consumers now prefer digital or fully online financing experiences, that lenders increasingly support remote documentation and e-signature, and that only a minority of dealerships currently offer a fully remote financing process. OCAL intends to use its public platform to expand into new provinces - beginning with Ontario - and to continue investing in the automation that underpins its unit economics, in each case subject to obtaining required licences and approvals and to market conditions.
As a newly listed issuer, OCAL intends to maintain a disciplined approach to disclosure, governance and reporting, and to grow its footprint in a measured, milestone-driven way.
"Listing on the TSX Venture Exchange is a milestone the entire team has worked toward, and it is a beginning rather than an end," said Mehdi Moghareh, Chief Executive Officer of OCAL. "We have shown the model works in British Columbia and Alberta. Being public gives us the platform and the capital to bring a finance-first, fully remote way of buying a car to many more Canadians."
"We are entering the public market with a clean capital structure, a defined use of proceeds and a governance framework built for scale," said Matthew Friesen, Chairman of OCAL. "Our job now is to convert an operating track record into transparent, measurable growth for shareholders."
About OCAL
OCAL Financial Inc. is an asset-light, AI-native virtual automotive dealership and vehicle-finance platform. Operating remotely and licensed in British Columbia and Alberta, OCAL moves customers from application to approval, vehicle matching, digital contracting and delivery in a single workflow. Rather than carrying owned inventory, OCAL sources each vehicle only after a customer is approved, drawing on the OPENLANE auction network and select partners. OCAL earns revenue from vehicle sales and related finance and protection products, and does not hold consumer loans or assume credit-default risk. Its proprietary technology stack - workflow orchestration, a lender-routing credit-intelligence system, voice AI, and a centralized business-intelligence system - is purpose-built for automotive transactions.
To learn more about OCAL, visit www.ocalfinancial.ca.
Investor Contact
OCAL Financial - Investor Relations
Matthew Friesen, Chairman · Mehdi Moghareh, Chief Executive Officer
general@ocal.ca · 1 (604) 687-7765 · ocalfinancial.ca
Cautionary Notes
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The Company's 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 or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative. TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws (collectively, "forward-looking statements") within the meaning of Canadian securities legislation. Forward-looking information generally refers to information about an issuer's business, capital, or operations that is prospective in nature, and includes future-oriented financial information about the issuer's prospective financial performance or financial position. Forward-looking statements are often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: final acceptance of the Exchange of the Qualifying Transaction and the issuance of the Final Exchange Bulletin; commencement of trading of the Common Shares, and the Company's business plans including the expansion into Ontario, Quebec, and the U.S. market (Washington, Arizona, and Nevada). To develop the forward-looking information in this news release, the Company made certain material assumptions, including but not limited to: prevailing market conditions; general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the ability of the Company to execute and achieve its business objectives. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Actual results may vary from the forward-looking information in this news release due to certain material risk factors. These risk factors include, but are not limited to: adverse market conditions; changes in general economic, business and political conditions; changes in applicable laws and regulations; compliance with extensive government regulation; reliance on key and qualified personnel; risks associated with the technology industry in general; and the risk factors disclosed under the heading "Risk Factors" in the Filing Statement. The foregoing list of material risk factors and assumptions is not exhaustive. The Company assumes no obligation to update or revise the forward-looking information in this news release, unless it is required to do so under Canadian securities legislation.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/305866
Source: OCAL Financial
