EDMONTON, March 26, 2019 /CNW/ - AutoCanada Inc.
("AutoCanada" or the "Company") (TSX: ACQ), a multi-location North American automobile dealership group, announced today that it
has entered into agreements to sell two parcels of real estate to Automotive Properties Real Estate Investment Trust (the "REIT")
for a total purchase price of $23.95 million.
Upon closing of the transaction, two AutoCanada dealerships will enter into 19-year, triple-net leases with the REIT. The REIT
has also agreed to fund future capital development expenses on the two properties in the total amount of $6.5 million. The transaction is subject to customary closing conditions and is expected to close at the end of
this month.
About AutoCanada
AutoCanada, a leading North American multi-location automobile dealership group currently operating 67 franchised dealerships,
comprised of 28 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 2018, our dealerships sold approximately 66,000 vehicles and processed approximately 915,000 service and
collision repair orders in our 1,157 service bays generating revenue in excess of C$3 billion.
Additional information about AutoCanada Inc. is available at www.sedar.com and the Company's website at www.autocan.ca.
Forward Looking Statements
Certain statements contained in this press release are forward‑looking statements and information (collectively
"forward‑looking statements"), within the meaning of the applicable Canadian securities legislation. We hereby provide cautionary
statements identifying important factors that could cause our actual results to differ materially from those projected in these
forward‑looking statements. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives,
assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely
result", "are expected to", "will continue", "is anticipated", "projection", "vision", "goals", "objective", "target",
"schedules", "outlook", "anticipate", "expect", "estimate", "could", "should", "plan", "seek", "may", "intend", "likely", "will",
"believe" and similar expressions) are not historical facts and are forward‑looking. Forward looking statements in this
press release include, but are not limited to, statements regarding the closing of the sale-leaseback transaction.
Forward-looking statements involve estimates and assumptions and are subject to risks, uncertainties and other factors some of
which are beyond our control and difficult to predict. Accordingly, actual results or outcomes may differ materially from
those expressed in the forward‑looking statements. Therefore, any such forward‑looking statements are qualified in their
entirety by reference to the factors discussed throughout this press release. The Company's Annual Information Form and
other documents filed with securities regulatory authorities (accessible through the SEDAR website at www.sedar.com) describe the risks, material assumptions and other factors that could influence actual results
and which are incorporated herein by reference.
Further, any forward‑looking statement speaks only as of the date on which such statement is made, and, except as required by
applicable law, we undertake no obligation to update any forward‑looking statement to reflect events or circumstances after the
date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time,
and it is not possible for management to predict all of such factors and to assess in advance the impact of each such factor on
our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from
those contained in any forward‑looking statement.
Additional Information
Additional information about AutoCanada is available at the Company's website at www.autocan.ca and www.sedar.com.
SOURCE AutoCanada Inc.
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