RECEIVES TSX APPROVAL FOR NORMAL COURSE ISSUER BID EDMONTON, AB, Dec. 20, 2021 /CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ), a multi-location North American automobile dealership group, announced today that the Toronto Stock Exchange ("TSX") has accepted the Company's notice of intention to commence a normal course issuer bid ("NCIB") to purchase up to 1,730,321 common shares during the 12-month period commencing December 23, 2021 and ending December 22, 2022 or such earlier date as the Company may complete its purchases under the NCIB.
"AutoCanada's continuing strong operating and financial performance affords the Company the ability to simultaneously execute on our disciplined M&A strategy while repurchasing Company shares at what the Board of Directors believes to be a highly attractive valuation relative to the earnings of the Company," commented AutoCanada's Executive Chairman, Paul Antony.