AutoCanada Inc. Announces Opening of KIA Edmonton North

EDMONTON, Aug. 19, 2014 /CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX: ACQ) announced today the opening of KIA Edmonton North, a new dealership location in Edmonton, Alberta.  The opening of the dealership represents AutoCanada's first KIA dealership and expands upon the Company's platform in the Edmonton area.  KIA Edmonton North is a previously announced open point dealership that was awarded to AutoCanada.

Commenting on the opening of the new dealership, Pat Priestner, Chairman and CEO of AutoCanada stated, "We are very pleased to open KIA Edmonton North, our first KIA dealership, and we look forward to building upon our relationship with this important and growing brand by providing an excellent customer experience in a key retail automotive market in Canada."

About AutoCanada

AutoCanada is one of Canada's largest multi-location automobile dealership groups, currently operating 44 franchised dealerships in eight provinces and has over 2,500 employees. AutoCanada currently sells Chrysler, Dodge, Jeep, Ram, Fiat, Chevrolet, GMC, Buick, Cadillac, Infiniti, Nissan, Hyundai, Subaru, Mitsubishi, Audi, Volkswagen, BMW, MINI, and KIA branded vehicles. In 2013, our dealerships sold approximately 36,000 vehicles and processed approximately 364,000 service and collision repair orders in our 406 service bays during that time.

Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. All statements other than statements of historical fact contained in this press release may be forward-looking statements and forward-looking information. In particular, forward-looking information and statements in this press release include, but are not limited to, the completion of the proposed dealership group acquisition and the dealerships to be acquired pursuant to the transaction. These forward-looking statements and information are based on certain key expectations and assumptions made by AutoCanada, including the assumption that all necessary conditions will be satisfied and all necessary approvals will be obtained. Although AutoCanada believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information as AutoCanada cannot give any assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the risk that OEM approval will not be obtained for the acquisition and the acquisition will not be completed as proposed or at all and general economic, market and business conditions. Readers are cautioned that the foregoing list of risks and uncertainties is not exhaustive. Additional information on these and other risk factors that could affect AutoCanada's operations, financial results and the completion of the proposed acquisition are included in AutoCanada's annual information form and the other disclosure documents filed by AutoCanada with securities regulatory authorities which may be accessed through the SEDAR website at www.sedar.com. The forward-looking statements and information contained in this press release are made as of the date hereof and AutoCanada does not undertake any obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.

Additional information about AutoCanada Inc. is available at www.sedar.com and the Company's website at www.autocan.ca.

SOURCE: AutoCanada Inc.

Jeff Christie, CA, Vice-President, Finance, Phone: [phone], Email: [email protected]