SiriusXM Canada Advises of Chief Financial Officer's Resignation

TORONTO, Aug. 4, 2015 /CNW/ - Sirius XM Canada Holdings Inc. ("SiriusXM Canada" or the "Company") (TSX: XSR), parent of Sirius XM Canada Inc., today advised that, effective September 4, 2015, Mr. Michael Washinushi, Chief Financial Officer, will be leaving the Company to pursue other business opportunities.

"We appreciate Michael's many contributions to SiriusXM Canada, which began with our Initial Public Offering in 2005," said Mark Redmond, President and CEO, SiriusXM Canada. "In particular, he has played an important role in integrating Sirius and XM Canada. We are pleased to consider that process now complete. As a unified brand, we are thriving as a leader in the Canadian audio entertainment industry. We wish Michael every success in his future endeavours."

The Company, in coordination with the Board of Directors, has commenced a search for Mr. Washinushi's replacement. Mr. Washinushi will stay on full-time with SiriusXM Canada until September 4, after which he will act as an advisor to the Company through to the end of 2015, to help ensure a smooth transition.

Mr. Redmond continued: "We have a very skilled finance team, many of whom have been with the Company for numerous years. In addition, finance expertise runs deep across our Board of Directors, and we have a 10-year relationship with our auditors, PwC. During this time of transition, we are confident the Company has the bench strength it needs and will be well supported. We will continue to focus on delivering growth, an unmatched audio experience and long-term shareholder value."

Forward-Looking Statements

Certain statements included above are forward-looking in nature. Such statements can be identified by the use of forward-looking terminology such as "expects," "may," "will," "should," "intend," "plan," or "anticipates" or the negative thereof or comparable terminology. Forward-looking statements include plans, expectations, or other statements that are not statements of fact. Although SiriusXM Canada believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. SiriusXM Canada's forward-looking statements are expressly qualified in their entirety by this cautionary statement. SiriusXM Canada makes no commitment to revise or update any forward-looking statements in order to reflect events or circumstances after the date any such statement is made, except as required by applicable law.

About SiriusXM Canada

Sirius XM Canada Holdings Inc. (TSX: XSR) operates as SiriusXM Canada. SiriusXM Canada, with more than 2.6 million subscribers, is the country's leading audio entertainment company and broadcasts more than 120 satellite radio channels featuring premier sports, news, talk, entertainment and commercial-free music. SiriusXM Canada offers an array of content from the most recognized news, entertainment and major sports brands including the NHL, NFL, NBA, NASCAR, CNN, CBC, FOX, BBC, Howard Stern, Disney, Comedy Central, and more.

SiriusXM programming is available on a variety of devices including pre-installed and aftermarket radios in cars, trucks and boats, smartphones and mobile devices, and consumer electronics products for homes and offices. SiriusXM programming is also available online at www.siriusxm.ca and on Apple and Android-powered mobile devices.

SiriusXM Canada has partnerships with every major automaker and its radio products are available at more than 2,500 retail locations nationwide. To find out more about SiriusXM Canada (TSX: XSR), visit our website at www.siriusxm.ca.

SiriusXM Canada has been designated one of Canada's 50 Best Managed Companies six years in a row and 2013 and 2014 rankings in PROFIT 500's list of Canada's Fastest Growing Companies.

Join SiriusXM Canada on Facebook at facebook.com/siriusxmcanada, on Twitter at twitter.com/siriusxmcanada and on Youtube at youtube.com/siriusxmcanada.

SOURCE Sirius XM Canada Holdings Inc.