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Quorum Announces Market Making and Investor Relations Services Agreements

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CALGARY, Alberta, May 16, 2022 (GLOBE NEWSWIRE) — Quorum Information Technologies Inc. (QIS: TSXV) (“Quorum” or the “Company”), a software and SaaS services company that provides essential software on which dealers automotive account for operations in North America, today announced the retention of Red Cloud Securities Inc. (“Red Cloud”) to provide market making services, and the retention of Daniela Trnka (“Trnka”) to provide investor relations (“IR”) services, each in accordance with the policies and guidelines of the TSX Venture Exchange (“TSXV”) and other applicable regulations.

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The agreement with Red Cloud is to trade Quorum shares on the TSXV in order to maintain an orderly market. Neither Red Cloud nor its affiliates or associates have any direct or indirect interest in the Company or its securities, nor any right or intention to acquire such interest. The agreement with Red Cloud began on May 15, 2022 and has a term of three months, with subsequent monthly renewals until terminated by either party. Red Cloud will receive cash compensation of $5,000 per month. There are no performance factors contained in the agreement between Red Cloud and Quorum, and Red Cloud will not receive any shares or options from Quorum in compensation for the services it renders.

The Company engaged Ms. Trnka to provide IR services. Ms. Trnka has twenty years of experience in IR and provided IR services to Quorum from October 2016 to October 2021. The new IR services agreement is effective May 11, 2022 and provides that Ms. Trnka will be compensated at 4 $000 per month. The IR Services Agreement is open to termination with a minimum of one month’s notice by either party. The agreement does not contain any performance factors and Ms. Trnka will not receive any Quorum shares or options in compensation for services rendered.

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Investor relations and market making agreements remain subject to TSXV approval.

About Red Cloud Securities

Red Cloud Securities Inc. is registered as an investment dealer in Ontario, Quebec, Alberta and British Columbia and is a member of the Investment Industry Organization of Canada (“IIROC”). It is focused on providing unique comprehensive capital market services and innovative financing alternatives to the junior resource sector. The company was founded by capital markets professionals who designed the business to serve small public and private companies. This solution is a comprehensive platform that provides a full range of conflict-free enterprise access services. Offering these services as a unified platform provides the ultimate value proposition for issuing clients. Red Cloud’s head office is located at Suite 1400, 120 Adelaide St W, Toronto, Ontario, M5H 1T1

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About Quorum Information Technologies Inc.

Quorum is a North American company focused on the development, marketing, implementation and support of its automotive dealer software and services portfolio which includes:

Quorum’s Dealership Management System (DMS) automates, integrates and streamlines key processes across all departments of a dealership, and focuses on revenue generation and customer satisfaction.

DealerMine CRM, a sales and service customer relationship management (CRM) system and set of business development center services that drive revenue into a dealership’s critical sales and service departments.

Autovance, a modern retail platform that helps dealers attract more business through digital retail, improve in-store profits and closing rates through its desktop tool, and maximize their efficiency and their CSI thanks to Autovance’s F&I menu solution.

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Accessible Accessories, a digital retail platform that enables franchise dealerships to effectively increase their vehicle accessory revenue.

Quorum Information Technologies Inc. is listed on the TSX Venture Exchange (TSXV) under the symbol QIS. For more information, go to QuorumInformationSystems.com.

contacts:

Maury Brands
President and CEO
403-777-0036
[email protected]

Marilyn Bown
Financial director
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 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”, “target”, “continuing”, “ongoing”. “, “estimate”, “expect”, “may”, “will”, “project”, “should”, or similar words suggesting future results. Quorum believes that the expectations reflected in such forward-looking information are reasonable, but there can be no assurance that such expectations will prove to be correct and undue reliance should not be placed on such forward-looking information.

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Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties, some of which are described here. 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 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 no responsibility for its adequacy or accuracy. of this press release.

PDF available: http://ml.globenewswire.com/Resource/Download/d5c778f0-08c3-4a6e-ab62-dbbc29b4dd8a

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