The Article 6 Marital Trust Created Under The Jerry Zucker Revocable Trust and Z-Holdings North ULC Purchase Shares of Colabor Group Inc.

NORTH CHARLESTON, SC, Oct. 13, 2016

In total 12,077,675 common shares were acquired by the Zucker Group which represents approximately 11.82% of the issued and outstanding common shares of Colabor.

Prior to the transactions, the Zucker Group owned 3,238,500 common shares and debentures in the principal amount of $1,313,000 which were convertible into 77,923 common shares.  Together this represented approximately 12.03% of the issued and outstanding common shares of Colabor prior to Colabor's distribution of the Rights and the issuance of shares under the Standby Purchase and Voting Support Agreement.

As a result of the transaction, and the concurrent reduction in the conversion price of the convertible debentures which has been approved by the debenture holders, the Zucker Group owns or has the right to convert into, 15,841,175 common shares (comprised of 15,316,175 common shares and 525,000 common shares which may be received upon the conversion of the debentures), or approximately 15.43% of the issued and outstanding common shares of Colabor. 

The common shares and debentures of Colabor were acquired for investment purposes.  The Zucker Group may acquire additional common shares and/or debentures of Colabor, subject to price and availability.

SOURCE The Article 6 Marital Trust Created Under The Jerry Zucker Revocable Trust