Conversion to Corporate Structure

Effective August 25, 2009, Colabor Income Fund was converted on a one for one basis to a corporation, Colabor Group Inc. which trades on the TSX under the symbol GCL. The conversion was deemed to be a tax-deferred rollover. If a disposition of shares of the corporation involved units purchased as the predecessor income trust, then Canada Revenue Agency will require an ACB calculation if a portion of the distribution received from the trust was deemed to have been return of capital.