Quorum Announces Atlantic Canada Opportunities Agency Investment
SAINT JOHN, New Brunswick, Nov. 05, 2020 (GLOBE NEWSWIRE) — Quorum Information Technologies Inc. (TSX Venture: QIS) (“Quorum” or the “Corporation”) announced today that the Government of Canada, through the Atlantic Canada Opportunities Agency (“ACOA”), is providing a $500,000 interest free, repayable investment to assist Quorum in adding significant enhancements to DealerMine’s Online Scheduling application.
Maury Marks, Quorum’s President and CEO stated, “We are excited that ACOA is supporting the research and development of our technology in our Saint John, New Brunswick office. Online Scheduling is a cloud-based online scheduling application that allows dealership customers to book service appointments from any device. After this project is complete, we will license the Online Scheduling application as a stand-alone web booking application to dealers and industry partners. Additionally, we will be adding exciting new functionality including Artificial Intelligence (“AI”) capability that identifies potential Declined Service from past work order’s, predictive analytics that determines the Next Likely Repair based on the age, make and mileage of the customer’s vehicle and a more intuitive and engaging User Interface.”“To bring back our economy stronger than ever, we must support small and medium-sized companies in their efforts to innovate, digitize and compete,” said Wayne Long, Member of Parliament for Saint John-Rothesay, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages. “I am pleased that the Government of Canada, through ACOA’s Regional Economic Growth through Innovation program, will help DealerMine create a team of experts to develop a stand-alone Online Scheduling application for the automotive industry. This project will strengthen the company’s product line, expand its markets and create four highly skilled positions.”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:XSellerator, a Dealership Management System (DMS) that 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 (DR), improve in-store profits and closing rates through its desking tool and maximize their efficiency and CSI through Autovance’s F&I menu solutions fee.Advantage, a full showroom system for both franchised and independent dealerships and a comprehensive management system that includes accounting for the independent market.Quorum Information Technologies Inc. is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS. For additional information please go to http://www.QuorumInformationSystems.com.About ACOAACOA creates opportunities for economic growth in Atlantic Canada by helping businesses become more competitive, innovative and productive; by working with communities to develop and diversify their economies; and by championing the strengths of Atlantic Canada. For more information, visit ACOA online.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.Maury Marks
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