EDMONTON, AB, Aug. 13, 2024 /CNW/ - AutoCanada Inc. ("AutoCanada or the "Company") (TSX: ACQ) announced that it identified a cybersecurity incident on August 11, 2024 that has impacted its internal IT systems.

Immediately upon detecting the incident, AutoCanada took action to safeguard its network and data.  This included engaging with leading cybersecurity experts to assist us with containment and remediation efforts, as well as to conduct a thorough investigation to understand the scope and impact of the incident.

As the investigation is ongoing, the full scope, nature and impact of the incident, including the extent to which any customer, supplier or employee data has been accessed is not yet known.  Although our business operations remain open at this time, the incident may result in disruptions until the relevant systems are fully restored.

About AutoCanada

AutoCanada is a leading North American multi-location automobile dealership group currently operating 84 franchised dealerships, comprised of 28 brands, in eight provinces in Canada as well as a group in Illinois, USA. AutoCanada currently sells Acura, Alfa Romeo, Audi, BMW, Buick, Cadillac, Chevrolet, Chrysler, Dodge, FIAT, Ford, GMC, Honda, Hyundai, Infiniti, Jeep, Kia, Lincoln, Mazda, Mercedes-Benz, MINI, Nissan, Porsche, Ram, Subaru, Toyota, Volkswagen, and Volvo branded vehicles. In addition, AutoCanada's Canadian Operations segment currently operates three used vehicle dealerships and one used vehicle auction business supporting the Used Digital Retail Division, 13 RightRide division locations, and 11 stand-alone collision centres within our group of 27 collision centres. In 2023, the Company generated revenue in excess of $6 billion and our dealerships sold over 100,000 retail vehicles.

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

Forward-Looking Statements

Certain statements contained in this press release are forward-looking statements and information (collectively, "forward-looking statements") within the meaning of the applicable Canadian securities legislation. We hereby provide cautionary statements identifying important factors that could cause our actual results to differ materially from those identified in these forward-looking statements. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "will continue", "is anticipated", "projection", "vision", "goals", "objective", "target", "schedules", "outlook", "anticipate", "expect", "estimate", "could", "should", "plan", "seek", "may", "intend", "likely", "will", "believe" and similar expressions) are not historical facts and are forward looking. In particular, this press release contains forward-looking statements with respect to, among other things, our assessment of the scope and impact of the cybersecurity incident.

AutoCanada cautions that the foregoing list of assumptions, risks and uncertainties is not exhaustive and may be impacted by, among other things, ongoing risks arising as a result of the cybersecurity incident and our ability to mitigate and address those risks. The Company's Annual Information Form and other documents filed with securities regulatory authorities (accessible through the SEDAR website at www.sedarplus.com) describe the risks, material assumptions and other factors that could influence actual results and which are incorporated herein by reference. The forward-looking statements contained in this press release speak only as of the date hereof and AutoCanada assumes no obligation to publicly update or revise them to reflect new events or circumstances, except as may be required pursuant to applicable securities laws.

SOURCE AutoCanada Inc.