On July 17, 2018, AutoCanada Inc.'s board of directors appointed a special committee of independent directors to review strategic alternatives that may be available to the company to maximize shareholder value. The Company stated that as part of the ongoing review of the Company's strategy and performance, which has included discussions with management, the shareholders, and the financial and legal advisors, the Board established a Special Committee of independent directors charged with completing a strategic review to explore a range of strategic and financial alternatives that could enhance shareholder value. The Company added that the Special Committee will evaluate potential changes to the Company's Board of Directors