AutoCanada Announces Increase to Price Range and Extension of its Substantial Issuer Bid

EDMONTON, AB, Aug. 2, 2022 /CNW/ – AutoCanada Inc. (“AutoCanada” or the “Company“) (TSX: ACQ) announced today the amendment of the terms of its previously announced substantial issuer bid (the “Offer“) pursuant to which the Company will offer to purchase up to $100,000,000 in value of its outstanding common shares (the “Shares“) from its shareholders (“Shareholders“) to increase the price range at which Shares will be purchased in the Offer to a price of not less than $25.00 and not more than $28.00 (the “Enhanced Range“). The Enhanced Range varies the original price range of the Offer of not less than $22.00 and not more than $25.00. In connection with the variation of the price range of the Offer, the expiry date of the Offer has been extended to 5:00 p.m. (Toronto Time) on August 15, 2022, or such later date and time to which the Offer may be extended by AutoCanada (such time on…