CALGARY, Alberta, Dec. 10, 2025 (GLOBE NEWSWIRE) -- Quorum Information Technologies Inc. (TSX-V: QIS) ("Quorum" or the "Company") is pleased to announce the closing of the previously announced statutory plan of arrangement (the "Arrangement") under the Business Corporations Act (Alberta), pursuant to which 2745122 Alberta Inc. (the "Purchaser"), an affiliate of Valsoft Corporation Inc., has acquired all of the issued and outstanding Common Shares of Quorum (each, a "Share") at the purchase price of $0.80 per Share in cash. The Arrangement is described in further detail in the management information circular dated October 22, 2025, which is available on SEDAR+ (www.sedarplus.ca) under Quorum's issuer profile.
Delisting
The Company expects to delist its Common Shares from the TSX Venture Exchange (the "TSX-V") on or about December 10, 2025 (the "Delisting"). An application for the Delisting was submitted to the TSX-V on November 26, 2025 and the Delisting is subject to the final approval of the TSX-V. The Company will also apply to the Canadian securities regulators for the Company to cease to be a reporting issuer in the applicable jurisdictions.
About Quorum Information Technologies Inc.
Quorum is a North American SaaS Software and Services company providing essential enterprise solutions that automotive dealerships and Original Equipment Manufacturers rely on for their operations, including:
- Quorum's Dealership Management System (DMS), which 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 Customer Satisfaction Index through Autovance's F&I menu solution.
- Accessible Accessories, a digital retailing platform that allows franchised dealerships to efficiently increase their vehicle accessories revenue.
- VINN Automotive- a premier automotive marketplace that streamlines the vehicle research and purchase process for vehicle shoppers while helping retailers sell more efficiently.
Quorum Information Technologies Inc. is traded on the TSX Venture Exchange (TSX-V) under the symbol QIS. For additional information please go to www.QuorumInformationSystems.com.
On behalf of the Board of Directors
"Maury Marks"
President and CEO
Contacts:
Maury Marks
President and Chief Executive Officer
403-777-0036
Maury.Marks@QuorumInfoTech.com
Marilyn Bown
Chief Financial Officer
403-777-0036
Marilyn.Bown@QuorumInfoTech.com
FORWARD-LOOKING STATEMENTS
This press release contains certain forward-looking statements and forward-looking information (collectively, "forward-looking information") within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact contained herein is forward-looking information under applicable securities laws. In particular, statements and information about the Company's anticipated transactions are forward-looking. This forward-looking information is based upon various assumptions. 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. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, the forward-looking information, and, accordingly, no assurances can be given that any of the plans, intentions or expectations anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits the Company will derive therefrom. Forward-looking information includes statements related to the Delisting, the Company's application to cease to be a reporting issuer and other statements.
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/23ba04dd-f865-4ea8-ae87-16a1fc16ef37
