Quorum Information Technologies Inc.
TSX VENTURE : QIS

Quorum Information Technologies Inc.

October 11, 2012 13:05 ET

Quorum and the Atlantic Canada Opportunities Agency Announce Product Development Financing

ST. JOHN'S, NEWFOUNDLAND--(Marketwire - Oct. 11, 2012) - Quorum Information Technologies Inc. (TSX VENTURE:QIS) (Quorum) announced today that the Government of Canada, through the Atlantic Canada Opportunities Agency (ACOA), is providing a $500,000 loan to assist Quorum in carrying out product development activities at its St. John's office.

"Our experience with operating an office in Newfoundland and Labrador has been nothing short of amazing," said Maury Marks, Quorum's President and CEO. "We have found that the availability of high-quality skilled talent has even exceeded our high expectations. In the last 5 years we have grown our Newfoundland office from 5 to over 50 employees."

"Our Government's top priority is jobs, growth and long-term prosperity for Canadians," said Peter Penashue, Minister of Intergovernmental Affairs, President of the Queen's Privy Council, and Regional Minister for Newfoundland and Labrador, on behalf of Bernard Valcourt, Associate Minister of Defence and Minister of State (Atlantic Canada Opportunities Agency) (La Francophonie). "This is a strategic investment in a company that has a strong and viable future in Newfoundland and Labrador, allowing them to expand existing operations, improve product offerings and create jobs right here."

About Quorum

Quorum is a North American company focused on developing, marketing, implementing and supporting its XSELLERATOR product for GM, Isuzu, Chrysler, Hyundai, KIA, Nissan, Subaru, NAPA and Bumper to Bumper dealerships. XSELLERATOR is a dealership and customer management software product that automates, integrates and streamlines every process across departments in a dealership. One of the select North American suppliers under General Motors' IDMS program, Quorum supports 25% of GM's Canadian Dealerships. Quorum is a Microsoft Partner in both Canada and the United States. Quorum Information Technologies Inc. is traded on the Toronto Venture Exchange (TSX-V) under the symbol QIS. For additional information please go to www.QuorumDMS.com.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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