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E Automotive Inc. Files Amended and Restated Preliminary Prospectus for Initial Public Offering

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TORONTO, Oct. 20, 2021 /CNW/ - E Automotive Inc. d/b/a E Inc. ("E Inc." or the "Company") announced today that it has filed, and obtained a receipt for, an amended and restated preliminary base PREP prospectus (the "Amended and Restated Preliminary Prospectus"), which amends and restates the preliminary base PREP prospectus filed by the Company on October 18, 2021 with the securities regulatory authorities in each of the provinces and territories of Canada in connection with its proposed initial public offering of common shares (the "Offering"). The gross proceeds of the Offering are expected to be approximately $125 million at an offering price between $19.00 and $23.00 per common share.

The Offering is being made through a syndicate of underwriters led by Canaccord Genuity Corp., CIBC Capital Markets and National Bank Financial Inc. as lead underwriters, and Scotiabank, Eight Capital, ATB Capital Markets Inc. and Laurentian Bank Securities Inc.

Goodmans LLP is acting as legal counsel to E Inc. and Miller Thomson LLP is acting as legal counsel to the underwriters.

The Amended and Restated Preliminary Prospectus contains important information relating to the Offering, has not yet become final for purposes of a distribution of securities to the public, and is still subject to completion or amendment. No securities regulatory authority has either approved or disapproved the contents of this news release. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale or any acceptance of an offer to buy these securities in any province or territory of Canada prior to the time of receipt for the final long form prospectus or other authorization is obtained from the securities regulatory authority in such province or territory. Copies of the Amended and Restated Preliminary Prospectus will be available on SEDAR at

The securities have not been and will not be registered under the United States Securities Act of 1933 (the "U.S. Securities Act"), as amended, or any state securities laws, and may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulation S under the U.S. Securities Act). Accordingly, the securities may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to exemptions from the registrations requirements of the U.S. Securities Act and applicable state securities laws.

In connection with the Offering, the Company has applied to list the common shares to be distributed under the Offering on the Toronto Stock Exchange ("TSX"). Listing is subject to the approval of the TSX in accordance with its original listing requirements. The TSX has not conditionally approved the Company's listing application and there is no assurance that the TSX will approve the listing application.

About E Inc.

E Inc.'s mission is to optimize the online vehicle buying, selling, and management experience for automotive dealers and consumers. E Inc. has a digital platform (the "Platform") that provides automotive dealerships with access to an online wholesale auction marketplace where they can purchase or sell vehicles to other dealers, as well as access innovative software solutions to support dealers' digital retailing and inventory management. Access to E Inc.'s Platform is complemented by ancillary service offerings to assist dealers with supplementary auction-related needs, including driving consumer traffic to their digital properties and optimizing other business processes. E Inc.'s digital wholesale marketplace goes to market under the brand EBlock, and E Inc.'s digital retail suite of products goes to market under the brand EDealer.

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of applicable securities legislation that reflects management's current expectations regarding future events. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, failure to complete the Offering, failure to obtain conditional approval for the listing of the Company's common shares on the TSX, and the factors discussed under "Risk Factors" in the Amended and Restated Preliminary Prospectus. Actual results could differ materially from those projected herein. The Company does not undertake any obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required under applicable securities laws.

SOURCE E Automotive Inc.


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