CALGARY, Alberta, June 08, 2018 (GLOBE NEWSWIRE) — Quorum Information Technologies Inc. (Quorum) announced today that it has retained Mackie Research Capital Corporation (Mackie) to initiate its market making service to provide market making services to Quorum in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable legislation.
Mackie will trade shares of Quorum on the TSXV for the purposes of maintaining a reasonable market and improving the liquidity of Quorum’s common shares. The agreement provides that Quorum will pay Mackie ,000 per month, payable quarterly in advance. The engagement may be terminated by either party with written or verbal notice. Quorum and Mackie act at arm’s length, but Mackie may provide investment banking services to Quorum and Mackie and/or its clients may have an interest, directly or indirectly, in the securities of Quorum. The agreement is principally for the purposes of maintaining market stability and liquidity for Quorum’s common shares and is not a formal market making agreement. There are no performance factors contained in the agreement between Mackie and Quorum and Mackie will not receive any shares or options from Quorum as compensation for services it will render.
About Mackie Research Capital Corporation
Mackie is one of Canada’s largest independent full service investment firms, and proudly traces its roots back to 1921. Mackie is privately owned by many of its 300 employees. As a fully integrated national investment dealer, Mackie offers a full complement of capital markets and wealth management services to private clients, institutions and growth companies.
Quorum is a North American company focused on developing, marketing, implementing and supporting its automotive dealership and customer management system, XSellerator. Quorum offers the system to franchised, independent and some non-automotive dealerships in Canada and the United States. XSellerator automates, integrates and streamlines every process across departments in a dealership. The system includes tools designed to maximize revenue opportunities for dealerships such as Customer Relationship Management and service inspection and quoting processes. Quorum is a Microsoft partner and XSellerator is developed with modern mobile-enabled technology. Quorum Information Technologies Inc. is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS and in 2016 was selected to the TSX Venture 50®, an annual ranking of the strongest performing companies on the TSX Venture Exchange. For additional information please go to www.QuorumDMS.com.
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.
Contact: Marilyn Bown