/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE
EDMONTON, June 3, 2013 /CNW/ - AutoCanada Inc. ("AutoCanada" or the
"Company") (TSX:ACQ) is pleased to announce that it has closed its
previously announced public offering of common shares. With exercise of
the over-allotment option, the Company issued 1,840,000 common shares
from treasury at a price of $25.00 per share for gross proceeds of
$46,000,000. Concurrently, Canada One Auto Group Ltd. and its
subsidiaries (collectively, "CAG") sold an aggregate of 3,450,000
common shares for gross proceeds $86,250,000, for a combined offering
of $132,250,000. Following completion of the offering, CAG owns
approximately 22.9% of AutoCanada's issued and outstanding common
The Company filed a short form prospectus in each of the provinces of
Canada except Quebec on May 27, 2013 in connection with the treasury
and secondary offerings.
Further Information on the Offering
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities of AutoCanada in the
United States. The common shares described in this press release have
not been and will not be registered under the United States Securities
Act of 1933, as amended, or the securities laws of any state and may
not be offered, sold or delivered in the United States absent an
exemption from registration.
AutoCanada is one of Canada's largest multi-location automobile
dealership groups, currently operating 30 franchised dealerships in six
provinces and has over 1,200 employees. AutoCanada currently sells
Chrysler, Dodge, Jeep, Ram, FIAT, Chevrolet, GMC, Buick, Infiniti,
Nissan, Hyundai, Subaru, Mitsubishi, Audi, and Volkswagen branded
vehicles. In 2012, our dealerships sold approximately 30,000 vehicles
and processed approximately 309,000 service and collision repair orders
in our 333 service bays during that time.
Additional information about AutoCanada Inc. is available at www.sedar.com and the Company's website at www.autocan.ca.
SOURCE: AutoCanada Inc.
For further information:
Tom Orysiuk, CA
Chief Financial Officer
Phone: (780) 732-3139