TORONTO, ONTARIO--(Marketwired - Aug. 24, 2017) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF THE SECURITIES IN THE UNITED STATES.

Automotive Finco Corp. ("AFCC" or the "Company") (TSX VENTURE:AFCC) is pleased to announce the results from its annual general and special meeting of shareholders held August 24, 2017 (the "Meeting").

At the Meeting, shareholders overwhelmingly elected the following nominees to serve as directors of the Company for the ensuing year: Farhad Abasov, Curtis Johansson and Kail Ross. Mr. Abasov will serve as Chairman of the Board. Shareholders also approved the reappointment of Raymond Chabot Grant Thornton LLP, Chartered Accountants as auditors of the Company, the continued use of the Company's stock option plan, an amendment to the maximum number of shares issuable under the Company's restricted share unit plan (the "RSU Plan") and awards of restricted share units under the RSU Plan, as more fully described in the Management Information Circular.

About Automotive Finco Corp.

Automotive Finco Corp is a high growth specialty finance company focused exclusively on the auto retail sector. Through its investment in Automotive Finance LP, the Company has exposure to a business providing long term, debt based acquisition financing to auto dealerships across the globe, with an initial focus on Canada. In addition to its interest in Automotive Finance LP, AFCC may also pursue other direct investments and financing opportunities across the auto retail sector. For further information please refer to the Company's website: www.autofincocorp.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in AFCC's disclosure documents on the SEDAR website at www.sedar.com. AFCC does not undertake to update any forward looking information except in accordance with applicable securities laws.