AutoCanada Inc. announced that it has closed its previously announced private placement offering (the "Offering") of senior notes. The Offering consisted of an additional $125 million aggregate principal amount of its existing 8.75% senior unsecured notes due February 11, 2025 (the "Notes") at a price of 106.625% plus accrued interest from and including February 11, 2021, which was increased from the initial offering size of $100 million. Upon closing of the Offering, the total principal amount of the 8.75% Senior Notes due February 11, 2025 outstanding is $250 million. As previously announced, proceeds of the Offering will be used by the Company to reduce the outstanding balance under its syndicated credit facility and for general corporate purposes, including acquisitions.