CALGARY, Alberta, Nov. 26, 2025 (GLOBE NEWSWIRE) — Quorum Information Technologies Inc. (TSX-V:QIS) (“Quorum” or “Company“) is pleased to announce that its shareholders (“Quorum of shareholders“) adopted a special decision to approve the statutory plan for the device (“Agreement“) under Business Corporation Law (Alberta) with participation of Quorum, Quorum Shareholders and 2745122 Alberta Inc. (“Buyer“), a subsidiary of Valsoft Corporation Inc., as more fully described in its information circular dated October 22, 2025, which is available on SEDAR+ (www.sedarplus.ca) under Quorum's issuer profile.
A quorum of shareholders representing an aggregate of 58,584,797 shares of Common Stock (“Whose shares“) were present in person or represented by proxy at a special meeting of Quorum Shareholders, representing 79.55% of the issued and outstanding Quorum Shares. Approximately 97.65% of the votes cast by Quorum Shareholders were in favor of a special resolution approving the Transaction.
The Quorum is also pleased to announce that earlier today the Court of Queen's Bench of Alberta issued a final order approving the Agreement.
The completion of the Transaction is subject to the satisfaction or waiver of the remaining closing conditions contained in the agreement entered into between the Company and the Buyer dated September 22, 2025, including, without limitation, the Transaction receiving final approval from the TSX Venture Exchange.
The closing date of the Agreement has not yet been determined, but is expected to occur in early December 2025.
About Quorum Information Technologies Inc.
Quorum is a North American SaaS software and services company providing core enterprise solutions that auto dealerships and OEMs rely on to do their business, including:
- Quorum Dealer Management System (DMS)which automates, integrates and optimizes key processes across different departments of the dealership, with a focus on revenue generation and customer satisfaction.
- DealerMine CRMcustomer relationship management for sales and service (“CRM“) system and suite of Business Development Center services that generate revenue for a dealership's critical sales and service departments.
- Avtovansmodern retail platform that helps dealerships reach more customers through digital retail, improve in-store profits and close rates with its onboarding tool, and maximize their efficiency and customer satisfaction scores with Autovance's F&I menu solution.
- Available accessories, a digital retail platform that allows franchised dealerships to effectively increase revenue from the sale of automotive accessories.
- WIN Automotive, A leading automotive marketplace that streamlines the car search and purchasing process for consumers and helps retailers sell more efficiently.
Quorum Information Technologies Inc. shares trades on the TSX Venture Exchange (TSX-V) under the symbol QIS. For more information please follow the link www.QuorumInformationSystems.com..
On behalf of the Board of Directors
“Maury Marks”
President and CEO
Contacts:
Maury Marks
President and CEO
403-777-0036
[email protected]
Marilyn Bown
Financial Director
403-777-0036
[email protected]
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 constitute forward-looking information within the meaning of applicable securities laws. In particular, statements and information regarding the Company's proposed transactions are forward-looking statements. This forward-looking information is based on various assumptions. Forward-looking information is often, but not always, identified by the use of words such as “expect,” “believe,” “plan,” “intend,” “objective,” “ongoing,” “current,” “estimate,” “anticipate,” “may,” “will,” “project,” “should,” or similar words suggesting future results. The Company's actual results, performance or achievements may differ materially from those expressed or implied by the forward-looking information and, accordingly, no assurance can be given that any plans, intentions or expectations expressed in the forward-looking information will occur or be achieved or, if any of them occur, what benefits the Company will receive therefrom. Forward-looking information includes statements regarding the entry into the Agreement and other statements.
Quorum believes that the expectations reflected in such forward-looking information are reasonable, but no assurance can be given that such expectations will prove to be correct and undue reliance should not be placed on such forward-looking information.
Forward-looking information is not a guarantee of future performance and is subject to a number of risks and uncertainties, some of which are described herein. Such forward-looking information necessarily involves known and unknown risks and uncertainties that 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 accepts responsibility for the adequacy or accuracy of this release.
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