Quorum Announces an Addition to its Board of Directors

CALGARY, Alberta, June 27, 2023 (GLOBE NEWSWIRE) -- Quorum Information Technologies Inc. (TSX-V: QIS) (OTC Pink: QIFTF) ("Quorum"), a North American SaaS Software and Services company providing essential enterprise solutions that automotive dealerships and Original Equipment Manufacturers ("OEMs") rely on for their operations, announces effective immediately, the appointment of Mr. Damien Leonard, President of Pinetree Capital Ltd. ("Pinetree"), to Quorum's Board of Directors.

"We are pleased to welcome Damien to Quorum's Board of Directors," said Neil McDonnell, Chair of the Board. "We believe that Damien's expertise will help guide Quorum's strategy of balanced, profitable growth. In addition, L6 Holdings Inc. and Pinetree's investment in Quorum reflects the confidence that Pinetree has in Quorum's future and is a testament to Quorum's commitment to driving shareholder value."

Mr. Leonard brings more than 15 years of experience investing in software businesses across North America, Europe and Australia. He is the President of Pinetree, a TSX-listed investment company, and Managing Director of L6 Holdings, a family office, both of which focus on investing in enterprise software and together own 25.5% of Quorum.

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 ("OEMs") 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 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 ("TSX-V") under the symbol QIS. For additional investor information, please visit www.QuorumInformationSystems.com.

Contacts:

Maury Marks
President and Chief Executive Officer
403-777-0036
[email protected]

Marilyn Bown
Chief Financial Officer
403-777-0036
[email protected]

Daniela Trnka
Investor Relations
403-777-0036
[email protected]

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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