COLABOR GROUP ANNOUNCES DEBENTUREHOLDER AND SHAREHOLDER APPROVALS

    Boucherville, Québec, August 22, 2016 – Colabor Group Inc. (TSX: GCL) (“Colabor” or the “Corporation”) announces that, as part of meetings held earlier today in connection with the previously announced proposed recapitalization transactions to reduce Colabor’s indebtedness and significantly enhance the Corporation’s capital structure (the “Recapitalization Transactions”), the holders (the “Debentureholders”) of its 5.70% Convertible Unsecured Subordinated Debentures due April 30, 2017 (the “Convertible Debentures”) have approved the proposed amendments to the Convertible Debentures (the “Debenture Amendments”) and its shareholders have approved the proposed $50 million rights offering (the “Rights Offering”), including the offering price under the Rights Offering.

     

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