Automotive Finco Corp. Announces Intention to Repurchase up to $12,375,000 of its Common Shares pursuant to a Substantial Issuer Bid - Seite 2

The Offer will not be conditional on any minimum number of Shares being tendered to the Offer, but will be subject to other conditions customary for a transaction of this nature. The Offer will be for up to a maximum of 7,734,375 Shares, or approximately 33.45% of AFCC’s 23,123,773 currently issued and outstanding Shares, assuming full participation and a purchase price equal to the minimum purchase price of $1.60 per Share. The Company intends to fund the Offer from available cash on hand.

It is anticipated that the formal offer to purchase, issuer bid circular and other related documents (the “Offer Documents”) containing the terms and conditions of the Offer and instructions for tendering Shares will be mailed to shareholders and filed with the applicable securities regulators and available on SEDAR under the Company's profile at www.sedar.com within the week. Further information concerning the terms and conditions of the Offer will be contained in the Offer Documents. The Offer will remain open for acceptance for at least 35 days after the date of commencement, unless withdrawn or extended by the Company in accordance with applicable securities laws.

AFCC’s board of directors has authorized the making of the Offer. The directors and officers of AFCC have advised that they will not tender any of their Shares to the Offer. AA Capital LP, the general partner of which is controlled by Mr. Kuldeep Billan, the Chief Executive Officer of the Company, has also indicated to the Company that it does not intend to tender any of its Shares to the Offer.

This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell Shares. The solicitation and the offer to buy Shares are only being made pursuant to the Offer Documents. None of the Company, its board of directors, Computershare Investor Services Inc., the depositary for the Offer, or Kingsdale Advisors, information agent for the Offer, makes any recommendation to shareholders as to whether to deposit or refrain from depositing any or all of such shareholders’ Shares to the Offer. Shareholders are strongly urged to consult their own financial, tax, legal, and other professional advisors, and to make their own decision whether to tender or refrain from tendering their Shares to the Offer and, if so, how many Shares to tender.