Colabor Announces the Conclusion of Its Refinancing and the Issuance of a Notice of Redemption of Its Outstanding 6.0% Convertible Unsecured Subordinated Debentures - Seite 2

Pursuant to the terms of the Convertible Debentures, holders of the Convertible Debentures have the right, prior to the Redemption Date, to convert their Convertible Debentures into Colabor common shares at a conversion rate of $2.50 per common share. A full description of the redemption process as well as of the right of holders of Convertible Debentures to convert their debentures into Colabor common shares is set out in Colabor’s final short-form prospectus dated April 20, 2010. Holders of Convertible Debentures should also refer to the Trust Indenture dated April 27, 2010, as amended by a first supplemental indenture dated October 13, 2016, for additional information. All of the foregoing documents are available under Colabor’s profile on SEDAR at www.sedar.com.

« The refinancing of our credit facilities demonstrates the support of our existing financial partners and new lenders, strengthens our balance sheet, provides additional financial flexibility and reduces our financial expenses. We now have the available resources and financial flexibility to pursue our growth », said Louis Frenette, President and Chief Executive Officer of Colabor.

Forward-Looking Statements

This press release contains certain statements that may be deemed to be forward-looking statements including, but not limited to, the redemption of the Convertible Debentures, reflecting the opinions or current expectations of Colabor Group Inc. concerning its performance, business operations and future events. Such statements are subject to risks, uncertainties and assumptions and the analysis of the debt structure and available alternatives, and risks mentioned in the Company’s annual information form found under its profile on SEDAR (www.sedar.com), such as the risk of dilution for existing shareholders. As such, these statements are not guarantee of future performance, and actual results, realities or events may differ materially. Except as required by law, the Company assumes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions or other factors change.

About Colabor

Colabor is a distributor and wholesaler of food and related products serving the hotel, restaurant and institutional markets or “HRI” in Quebec and in the Atlantic provinces, as well as the retail market). Within its two operating segments, Colabor offers specialty food products such as meat, fresh fish and seafood, as well as food and related products through its Broadline activities.

Further information

Groupe Colabor Inc. Marie-France Laberge Corporate Controller and Interim Chief Financial Officer 450-449-4911 ext. 1272 [e-mail]

Investor Relations Danielle Ste-Marie Ste-Marie Strategy and Communications Inc. 450-449-0026 ext. 1108