Quorum Announces Market Making and Investor Relations Services Agreements
16 May 2022 - 11:00PM
Quorum Information Technologies Inc. (QIS:TSXV) (“Quorum” or the
“Company”), a SaaS software and services company that provides
essential software that vehicle dealerships rely on for operations
throughout North America, announced today the retention of Red
Cloud Securities Inc. (“Red Cloud”) to provide market making
services, and the retention of Daniela Trnka (“Trnka”) to provide
Investor Relations (“IR”) services, each in compliance with the
policies and guidelines of the TSX Venture Exchange (“TSXV”), and
other applicable regulations.
The agreement with Red Cloud is to trade shares
of Quorum on the TSXV for the purposes of maintaining an orderly
market. None of Red Cloud nor its affiliates or associates has any
interest directly or indirectly in the Company or its securities,
or any right or intent to acquire such an interest. The agreement
with Red Cloud commenced on May 15, 2022 and has a term of three
months, with subsequent monthly renewals until terminated by either
party. Red Cloud will receive a cash fee of $5,000 per month. There
are no performance factors contained in the agreement between Red
Cloud and Quorum, and Red Cloud will not receive any shares or
options from Quorum as compensation for services it will
render.
The Company has engaged Ms. Trnka to provide IR
services. Ms. Trnka has twenty years’ experience in IR and provided
IR services to Quorum from October 2016 to October 2021. The new IR
services agreement is effective May 11, 2022 and provides that Ms.
Trnka will be compensated at $4,000 per month. The IR services
agreement is open to termination with a minimum of one month’s
notice by either party. There are no performance factors contained
in the agreement, and Ms. Trnka will not receive any shares or
options from Quorum as compensation for services rendered.
The investor relations and market making
agreements remain subject to the approval of the TSXV.
About Red Cloud Securities
Red Cloud Securities Inc. is registered as an
Investment Dealer in Ontario, Quebec, Alberta and British Columbia,
and is a member of the Investment Industry Organization of Canada
(“IIROC”). It is focused on providing unique comprehensive capital
market services and innovative financing alternatives to the junior
resource sector. The company was founded by capital markets
professionals who designed the firm to service small public and
private companies. This solution is a comprehensive platform that
provides a full range of unconflicted corporate access services.
Offering these services as a unified platform provides the ultimate
value proposition for issuer clients. Red Cloud’s head office is
located at Suite 1400, 120 Adelaide St W, Toronto, Ontario, M5H
1T1
About Quorum Information Technologies
Inc.
Quorum is a North American company focused on
developing, marketing, implementing and supporting its portfolio of
software and services for automotive dealerships that includes:
Quorum’s Dealership Management System (DMS)
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 CSI through Autovance’s F&I
menu solution.
Accessible Accessories, a digital retailing
platform that allows franchised dealerships to efficiently increase
their vehicle accessories revenue.
Quorum Information Technologies Inc. is traded
on the TSX Venture Exchange (TSXV) under the symbol QIS. For
additional information, please go to
QuorumInformationSystems.com.
Contacts:
Maury MarksPresident and Chief Executive
Officer403-777-0036Maury.Marks@QuorumInfoTech.com
Marilyn BownChief Financial
Officer403-777-0036Marilyn.Bown@QuorumInfoTech.com
Daniela TrnkaInvestor
Relations403-777-0036Daniela.Trnka@QuorumInfoTech.com
Forward-Looking Information
This press release may contain certain
forward-looking statements and forward-looking information
(“forward-looking information”) within the meaning of applicable
Canadian securities laws. 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. 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.
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