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AutoCanada Announces Appointment of New Chief Financial Officer

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EDMONTON, July 4, 2019 /CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX:ACQ), a multi-location North American automobile dealership group, announced today that it has appointed Mike Borys as its Chief Financial Officer, effective August 12, 2019.

AutoCanada Inc. (CNW Group/AutoCanada Inc.)

Mike is a chartered accountant with over 20 years of experience as CFO for both public and private enterprises.  Mike joins AutoCanada from PTW Energy Services, an electrical and instrumentation provider, where he served as CFO since 2017.  Prior to that, Mike was CFO at Newalta, an engineered environmental solutions provider, from 2008 to 2016, The Brick Group Income Fund, a furniture retailer, from 2005 to 2008, and Famous Players, a movie theatre operator, from 2002 to 2005.  He also worked in the restaurant industry for a 10-year period and progressed to CFO of Tricon Canada, a division of Pepsico, the franchisor and operator of KFC, Pizza Hut and Taco Bell franchises. 

"We are very excited to welcome Mike as our CFO," said Paul Antony, Executive Chair of the Company.  "We are pleased to add such a highly seasoned executive to our team.  Mike's proven track record and extensive finance and management experience will be instrumental in assisting us to continue to execute on our go forward plan in Canada and the U.S."

About AutoCanada

AutoCanada, a leading North American multi-location automobile dealership group currently operating 65 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, Ford, Infiniti, Nissan, Hyundai, Subaru, 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 effective start date of the new Chief Financial Officer. 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.

SOURCE AutoCanada Inc.

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