AutoCanada Announces Credit Facility Amendment

AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ), a multi-location North American automobile dealership group, announced today that its lenders under the Company's syndicated credit facility have agreed to extend the previously granted increase to the Company's maximum permitted Total Funded Debt to EBITDA ratio from 4.00:1.00 to 4.50:1.00 for the period from July 1, 2019 to March 31, 2020 . After March 31, 2020, the Company's maximum permitted Total Funded Debt to EBITDA Ratio will be 4.00:1.00.

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.