EDMONTON, Jan. 5 /CNW/ - AutoCanada Inc. ("ACI") (TSX:ACQ) is pleased to announce that it has amalgamated with its wholly owned subsidiary AutoCanada GP Inc. ("GP Inc.") pursuant to the provisions of the Canada Business Corporations Act to continue as one corporation under the name "AutoCanada Inc." effective January 1, 2011 ("New ACI").

Prior to the amalgamation, AutoCanada Operating Trust, a trust which was wholly owned by AutoCanada Income Fund and AutoCanada Income Fund, a trust which was wholly owned by AutoCanada Inc., were wound-up and dissolved in accordance with subsection 88.1 of the Income Tax Act (Canada).  As a result of the amalgamation and dissolution of AutoCanada Income Fund, New ACI holds all of the assets formerly held by GP Inc. and AutoCanada Income Fund.  This completes the reorganizations that were announced on November 6, 2009 and approved by the unitholders of AutoCanada Income Fund on December 17, 2009.

The common shares of New ACI will continue to trade under the symbol "ACQ".

About AutoCanada Inc.
AutoCanada Inc. is one of Canada's largest multi-location automobile dealership groups, currently operating 23 franchised dealerships in British Columbia, Alberta, Manitoba, Ontario, New Brunswick and Nova Scotia.  In 2009, the franchised automotive dealerships sold approximately 23,000 vehicles and processed approximately 300,000 service and collision repair orders in our 331 service bays.

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