Mr. Pierre Blanchette reports

COLABOR GROUP ANNOUNCES THE AMENDMENT AND RESTATEMENT OF ITS CREDIT FACILITY

Colabor Group Inc. has completed the process of amendment and restatement of its senior first-ranking secured credit facility.

The credit facility, as amended and restated, extends the maturity date from February, 2025, to February, 2028. The amended and restated credit facility has an authorized amount of $71.8-million, comprising a revolving credit of $50-million and a term loan of $21.8-million. The credit facility bears interest at the cost of funds plus a margin varying between 1.75 per cent to 2.75 per cent depending on the company's leverage ratios. The credit agreement includes an accordion clause allowing, by mutual agreement, the credit facility to be increased by an additional $35-million and thus authorizing the repayment at maturity of the company's subordinated debt if the related conditions are met.

"The extension of our credit facility reaffirms the support and confidence of our existing financial partners. As a result, we can continue to execute our strategic plan, while maintaining a prudent management of our overall leverage position," said Pierre Blanchette, senior vice-president and chief financial officer of Colabor.

About Colabor Group Inc.

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 fresh fish and seafood, meat, as well as food and related products through its Broadline activities.