E Automotive Inc. d/b/a EINC Announces John Rim as Chief Financial Officer

TORONTO, Aug. 28, 2023 /CNW/ - E Automotive Inc. d/b/a EINC (TSX: EINC) ("EINC" or the "Company") today announced that the Company has appointed John Rim, CPA, CA as its Chief Financial Officer (CFO). Mr. Rim has more than 25 years of business, finance and accounting experience, including the past 12 years working as a CFO or Chief Operating Officer for publicly listed companies on the TSX, TSX-V and NASDAQ exchanges.

"John brings a wealth of experience from his work in high growth markets with profitable companies that are M&A orientated which is ideally aligned with our strategy at EINC," said Jason McClenahan, CEO of EINC. "We believe he is a tremendous addition that complements our senior management team as we continue to scale our platform and drive towards profitability serving dealers in the vehicle wholesale and retail verticals."

"EINC is disrupting the vehicle wholesale market with its digital-meets-physical approach to automobile dealers. This is an opportunity to work with a deeply experienced management team that brings a unique vision and technology platform to a high growth market serving dealers where and how they want to transact," said John Rim, CFO of EINC.

Mr. Rim is a CPA, CA who has an extensive background across a range of businesses from start-up to Fortune 500 multinationals, both publicly listed and private equity owned companies including, Brookfield, KIK Custom and Bitfarms. Mr. Rim most recently held the position of CFO at WonderFi Technologies Inc. (TSX: WDNR) and prior to that role held the same position at Quarterhill Inc. (TSX: QTRH).  He has a broad range of experience including, financial planning, reviews and reporting, M&A due diligence and integration, IPO readiness, financial systems and internal controls, and tax planning.

Mr. Rim will join EINC effective October 1 this year, in the interim Andy Bohlin will continue to consult with the Company through that period.

About EINC

EINC's mission is to optimize the online vehicle buying, selling, and management experience for automotive dealers and consumers. EINC has a digital platform (the "Platform") that provides automotive dealerships with access to an online wholesale auction marketplace where they can purchase or sell vehicles to other dealers, as well as access innovative software solutions to support dealers' digital retailing and inventory management. Access to EINC's Platform is complemented by ancillary service offerings to assist dealers with supplementary auction-related needs, including driving consumer traffic to their digital properties and optimizing other business processes. E Inc.'s digital wholesale marketplace goes to market under the brand EBlock, and EINC's digital retail suite of products goes to market under the brand EDealer.

Cautionary Statement Regarding Forward-Looking Information

This news release contains forward-looking information that reflects the current expectations of management about the future results and opportunities for EINC. Forward-looking statements generally can be identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates", "prospects", "continues", or similar expressions suggesting future outcomes or events. More particularly and without limitation, this press release contains forward-looking statements and information concerning the Company's future positioning, vision of the market, scaling of the business on its existing cost base, future business prospects and potential. Such forward-looking statements reflect EINC's current beliefs and are based on information currently available to management, and EINC can give no assurance that these statements will prove to be correct. Although EINC believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements. By its nature, forward-looking information is subject to various risks and uncertainties (including those risks outlined in the Company's most recent annual information form), which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof and to not use such forward-looking information for anything other than its intended purpose. EINC undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE E Automotive Inc.

Ross Marshall, Investor Relations, Email: [email protected], Tel: [phone]