Automotive Finco Provides Update Regarding TSXV’s Continued Listing Requirements Review

Not for distribution to United States newswire services or for dissemination in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States.

TORONTO, April 07, 2021 (GLOBE NEWSWIRE) — Automotive Finco Corp. (TSX-V: AFCC) (“AFCC” or the “Company”) today announces that the TSX Venture Exchange (the “Exchange”) has granted AFCC an extension to file certain documents regarding its compliance with the Exchange’s Tier 2 Continued Listing Requirements (the “Tier 2 CLR”). As disclosed in AFCC’s news release dated February 16, 2021, the Exchange indicated that AFCC had Tier 2 CLR deficiencies relating to the requirements for assets and operations and activity for an issuer classified as a Tier 2 investment issuer. As a result, the Exchange originally gave AFCC until April 8, 2021 to submit documentation evidencing that it meets the Tier 2 CLR and resolve all related deficiencies. This deadline has now been extended to April 15, 2021. If AFCC is unable to meet the Tier 2 CLR by such deadline, the Exchange may transfer AFCC’s listing to the NEX board without further notice.

About Automotive Finco Corp.

AFCC is a finance company focused exclusively on the auto retail sector. Through its investment in Automotive Finance LP, AFCC has exposure to a business providing long term, debt based acquisition financing to auto dealerships across the globe, with an initial focus on Canada. In addition to its interest in Automotive Finance LP, AFCC may also pursue other direct investments and financing opportunities across the auto retail sector.

For further information please refer to 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 regulation. The words “may”, “will”, “would”, “should”, “could”, “expects”, “plans”, “intends”, “trends”, “indications”, “anticipates”, “believes”, “estimates”, “predicts”, “likely” or “potential” or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements. These statements include, without limitation, statements regarding the Company’s ability to satisfy Tier 2 CLR and the potential transfer of AFCC’s listing to the NEX board. The Company believes the expectations reflected in the forward-looking statements in this press release are reasonable but no assurance can be given that these 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 that are discussed in or implied by such forward-looking information. These risks and uncertainties include, but are not limited to, general, local, economic, and business conditions. All forward-looking information in this press release speaks as of the date hereof. The Company does not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise. Additional information about these assumptions and risks and uncertainties is disclosed in filings with securities regulators filed on SEDAR (www.sedar.com).

Neither 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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