AutoCanada Acknowledges Receipt of Letter from Clearwater

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AutoCanada Acknowledges Receipt of Letter from Clearwater

PR Newswire

EDMONTON, June 11, 2018 /PRNewswire/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ) today acknowledged receipt of a letter from Clearwater Capital Management. The Company's Board of Directors welcomes constructive dialogue with its shareholders. AutoCanada continues to execute a strategic plan that was reset following the first fiscal quarter of 2018. The focus of the plan is to strengthen the Company and enhance long-term shareholder value. The AutoCanada Board of Directors along with its advisors will consider the position of Clearwater and respond in due course.

About AutoCanada

AutoCanada, a leading North American multi-location automobile dealership group currently operating 68 franchised dealerships, comprised of 27 brands, in eight provinces in Canada as well as a group in Illinois, USA and has over 4,200 employees. AutoCanada currently sells Chrysler, Dodge, Jeep, Ram, FIAT, Alfa Romeo, Chevrolet, GMC, Buick, Cadillac, Infiniti, Nissan, Hyundai, Subaru, Mitsubishi, Audi, Volkswagen, Kia, Mazda, Mercedes-Benz, Smart, BMW, MINI, Volvo, Toyota, Lincoln and Honda branded vehicles. In 2017, our dealerships sold approximately 63,000 vehicles and processed approximately 870,000 service and collision repair orders in our 999 service bays generating revenue in excess of C$3 billion.

Additional Information

Additional information about AutoCanada Inc. is available at www.sedar.com and the Company's website at www.autocan.ca.

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/autocanada-acknowledges-receipt-of-letter-from-clearwater-300664529.html

SOURCE AutoCanada Inc.

Copyright CNW Group 2018

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