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, Nov. 29, 2018 (GLOBE NEWSWIRE) — Automotive Finco Corp. (TSX-V: AFCC.V) (the “Company”) today announced that it has filed condensed interim consolidated financial statements for the nine months ended September 30, 2018 reflecting the previously disclosed change in the Company’s fiscal year-end to December 31st. The statements together with the Management Discussion and Analysis can be found on SEDAR at www.sedar.com.
The Company believes its current share price is not an accurate reflection of its underlying book value per share. As such, the Company has begun an internal review aimed at identifying ways in which to narrow the discount of its share price to its book value per share. The Company will have no further comments during the internal review process but will update its shareholders in due course. There can be no assurance that this review process will result in any specific action or transaction or agreement or, if a transaction is undertaken, as to the nature, terms or timing of such transaction.
About Automotive Finco Corp.
Automotive Finco Corp (“AFCC”) is a high growth specialty 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: www.autofincocorp.com.
For further information please contact:
Kuldeep Billan, Email: kbillan@autofincocorp.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.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in AFCC’s disclosure documents on the SEDAR website at www.sedar.com. AFCC does not undertake to update any forward looking information except in accordance with applicable securities laws.