Quorum Closes Acquisition of Accessible Accessories Ltd.

CALGARY, Alberta, April 04, 2022 (GLOBE NEWSWIRE) — Quorum Information Technologies Inc. (QIS:TSXV) (“Quorum” or the “Company”), a SaaS software and services company that provides essential software that vehicle dealerships rely on for operations throughout North America, is pleased to announce the closing of its arm’s-length acquisition of Accessible Accessories Ltd. (“Accessible”), as originally announced on March 10, 2022.

Accessible is headquartered in Medicine Hat, Alberta, Canada and has over 680 automotive franchised dealership customers across Canada. Accessible develops, implements, and supports its web-based platform that allows franchised dealerships to sell accessories more effectively. Accessible is a growing business with a proven team and a large customer base of very successful dealerships.

About Quorum Information Technologies Inc.

Quorum is a North American company focused on developing, marketing, implementing and supporting its portfolio of software and services for automotive dealerships that includes:

Quorum’s Dealership Management System (DMS) automates, integrates and streamlines key processes across departments in a dealership, and emphasizes revenue generation and customer satisfaction.

DealerMine CRM, a sales and service Customer Relationship Management (CRM) system and set of Business Development Centre services that drives revenue into the critical sales and service departments in a dealership.

Autovance, a modern retailing platform that helps dealerships attract more business through Digital Retailing, improve in-store profits and closing rates through its desking tool and maximize their efficiency and CSI through Autovance’s F&I menu solution.

Quorum Information Technologies Inc. is traded on the TSX Venture Exchange (TSXV) under the symbol QIS. For additional information, please go to QuorumInformationSystems.com.

Contacts:

Maury Marks
President and Chief Executive Officer
403-777-0036
[email protected]

Marilyn Bown
Chief Financial Officer
403-777-0036
[email protected]

Investor Relations Contact
Ron Shuttleworth
Partner
Oak Hill Financial
647-500-7371
[email protected]

Forward-Looking Information

This press release may contain certain forward-looking statements and forward-looking information (“forward-looking information”) within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “expect”, “may”, “will”, “project”, “should” or similar words suggesting future outcomes. Quorum believes the expectations reflected in such forward-looking information are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties some of which are described herein. Such forward-looking information necessarily involves known and unknown risks and uncertainties, which may cause Quorum’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking information.

Neither the TSX Venture Exchange nor its regulation services provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed this release and neither accepts responsibility for the adequacy or accuracy of this release.

PDF available: http://ml.globenewswire.com/Resource/Download/65b52a1d-cf86-4fbe-9c81-bd4d495a139a

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