Mr. Azim Lalani reports

AUTOCANADA ANNOUNCES AMENDMENTS TO ITS CREDIT FACILITY INCLUDING EXTENDING THE MATURITY DATE AND UPSIZING THE FACILITY TO $1.635 BILLION

AutoCanada Inc. has amended its existing credit facility.

The amended credit facility includes: extending the maturity date to April 22, 2027; adding in a new $25-million capital expenditure facility to support the company's anticipated capital expenditures over the coming quarters; and increasing the total aggregate bank facilities from $1.61-billion to $1.635-billion. The amended credit facility also includes enhancements to used-vehicle flooring criteria and other administrative changes, including the transition from the Canadian Dollar Offered Rate (CDOR) to the Canadian Overnight Repo Rate Average (CORRA).

About AutoCanada Inc.

AutoCanada is a leading North American multilocation automobile dealership group currently operating 84 franchised dealerships, comprising 28 brands, in eight provinces in Canada and in Illinois, United States. AutoCanada currently sells Acura, Alfa Romeo, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, Fiat, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Lincoln, Mazda, Mercedes-Benz, Mini, Nissan, Porsche, Ram, Subaru, Toyota, Volkswagen and Volvo vehicles. In addition, AutoCanada's Canadian operations segment currently operates three used-vehicle dealerships and one used-vehicle auction business supporting the used digital division, 13 RightRide division locations, and 11 stand-alone collision centres within its group of 27 collision centres. In 2023, the company generated revenue in excess of $6-billion and its dealerships sold over 100,000 retail vehicles.