Automotive Finco Provides Update on Review of TSXV Continuous Listing Requirements

Do not distribute to news agencies in the United States or broadcast in the United States. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States.

TORONTO, April 07, 2021 (GLOBE NEWSWIRE) – Automotive Finco Corp. (TSX-V: AFCC) (“AFCC“or the”Society“) Announces today that the TSX Venture Exchange (the”To exchange“) granted AFCC an extension to file certain documents regarding its compliance with the Exchange’s Level 2 continuous listing requirements (the”CLR level 2“). As reported in the AFCC press release dated February 16, 2021, the Exchange indicated that the AFCC has CLR Level 2 deficiencies regarding asset, operating and business requirements for an issuer classified as a Level 2 investment issuer. As a result, the Exchange initially gave the AFCC until April 8, 2021 to submit documents proving that it meets the Level 2 CLR and addresses any related deficiencies . This deadline has now been extended until April 15, 2021. If the AFCC is not able to meet the level 2 CLR before this deadline, the Exchange may transfer the listing of the AFCC to the board of NEX administration without further notice.

About Automotive Finco Corp.

AFCC is a finance company focused exclusively on the automotive retail industry. Through its investment in Automotive Finance LP, AFCC has exposure to a company providing long-term, loan-based acquisition financing to auto dealerships around the world, with an initial focus on Canada. In addition to its stake in Automotive Finance LP, AFCC may also seek other direct investments and financing opportunities in the automotive retail sector.

For more information, please visit the Company’s website at www.autofincocorp.com or contact Shannon Penney, Chief Financial Officer, at [email protected] or (905) 619- 4996.

Forward-looking information

This press release may contain forward-looking information within the meaning of applicable securities regulations. The words “may”, “will”, “would”, “should”, “could”, “expect”, “expect”, “intend”, “trend”, “indications”, “foresee” “,” believes “,” estimates “,” forecasts “,” probable “or” potential “or negative or other variations of these words or other comparable words or expressions, are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding the ability of the Company to meet the CLR Level 2 and the potential transfer of the AFCC listing to the NEX Board of Directors. The Company believes that the expectations reflected in the forward-looking statements in this press release are reasonable, but no assurance can be given that such expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties that may cause the results or events mentioned in this press release to differ materially from those discussed or implied by this forward-looking information. . These risks and uncertainties include, without limitation, general, local, economic and business conditions. All forward-looking information contained in this press release is valid as of the date hereof. The Company does not undertake to update this forward-looking information, whether as a result of new information, future events or otherwise. Additional information on these assumptions and risks and uncertainties is disclosed in filings with securities regulators on SEDAR (www.sedar.com).

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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