Colabor Group Inc. Enters Into Definitive Agreements Following the Conclusion of Its SISP

SAINT-BRUNO-DE-MONTARVILLE, Quebec, April 08, 2026 (GLOBE NEWSWIRE) — Colabor Group Inc. (TSX: GCL) (“Colabor” or the “Company”), announced today the conclusion of its sale and investment solicitation process (“SISP”) conducted under the supervision of the Superior Court of Québec (Commercial Division) (the “Court”) and Raymond Chabot Inc., as Court-appointed monitor of the Company (“Monitor”) in connection with the restructuring proceedings (the “CCAA Proceedings”) of the Company and certain of its subsidiaries, Transport Paul-Émile Dubé Ltée, Le Groupe Resto-Achats Inc. and Norref Fisheries Quebec Inc., instituted on January 8, 2026, under the Companies’ Creditors Arrangement Act (Canada).

Following the issuance on March 31, 2026 by the Court of an approval and vesting order in respect of the sale of all outstanding shares of Tout-Prêt Inc., the Company has entered into three (3) agreements for the further sale and purchase of its assets or equity holdings (the “Definitive Agreements”), as further described below. The execution of the Definitive Agreements is the culmination of the Company’s aforementioned SISP in the context of the CCAA Proceedings.

First, the Company has entered into an asset purchase agreement with Colabor 2026 L.P., acting through its general partner 9563-0570 Québec Inc., an affiliate of Financière Outremont Inc., to purchase substantially all of the assets of the Company and of its subsidiaries Norref Fisheries Quebec Inc. and Transport Paul-Émile Dubé Ltée. Second, the Company has also entered into an asset purchase agreement with 9562-9507 Québec Inc., a newly incorporated corporation for the sole purpose of purchasing the totality of assets held by Le Groupe Resto-Achats Inc. on behalf of a consortium comprised of Quebec-based investors. Third, the Company has entered into an asset purchase agreement for the purchase of certain of its remaining assets.

The Company has applied to the Court for the issuance of approval and vesting orders (the “Approval Orders”) in respect of the transactions contemplated by the Definitive Agreements and a hearing is scheduled for April 13, 2026. Assuming the Approval Orders are granted by the Court, and subject to fulfillment or waiver, as applicable, of other closing conditions customary for transactions of this nature contained in the Definitive Agreements (including regulatory approval, as applicable), the Company expects the transactions to be completed in the coming weeks.

“Today, we are taking an important step forward in our restructuring under the CCAA. The Court‑supervised process enables us to move toward solutions that support the continuity of Colabor’s operations. With more than 60 years of history behind us, we are ensuring that we remain strongly rooted in Québec, with significant distribution capabilities in an industry that is essential to the economy,” said Kelly Shipway, President and Chief Executive Officer of Colabor. “We remain deeply grateful to our employees, our customers and our partners for their support throughout this process,” Ms. Shipway added.

“We are very pleased to put ourselves forward as a purchaser of the assets of Colabor Group and those of its subsidiaries, Norref Fisheries Quebec Inc. and Transport Paul-Émile Dubé Ltée. We would like to thank Colabor’s President and Chief Executive Officer, Kelly Shipway, and her team for their outstanding collaboration throughout this process. Today, our objective is clear: supported by the expertise and know-how of Colabor’s employees, served by experienced suppliers and business partners, and relying on major clients, we want to revitalize the operations of this distribution company that has been part of our community for over 60 years in a critical sector of the food supply chain. In addition to maintaining jobs in Québec and keeping the operations of a well-established Québec company here, we are convinced of the need to safeguard this important link in our supply chain, a link that contributes to our food sovereignty,” said Pierre Karl Péladeau, President of Financière Outremont.

“In the context of the reorganization of Colabor Group Inc., a group of five members of Le Groupe Resto-Achats Inc., led by Mr. Mathieu Labrecque, is pleased to announce its intention to acquire the assets of Le Groupe Resto-Achats Inc., a subsidiary of Colabor Group Inc., with the goal of ensuring its continuity, preserving its mission, and maintaining a strong group driven by its members,” declared Mr. Mathieu Labrecque. “This initiative is led by members, for the members, who believe in the strength of the group and its structuring role for the restaurant industry,” Mr. Labrecque added.

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 activities, Colabor offers specialty food products such as meat, fish and seafood, as well as food and related products through its Broadline activities.

Further information:

About Financière Outremont Inc.

Financière Outremont Inc. is an investment company controlled by Pierre Karl Péladeau.

Further information:

About Le Groupe Resto-Achats Inc.

Le Groupe Resto-Achats Inc. is a food purchasing group. Le Groupe Resto-Achats Inc. serves independent restaurants of the family, pub, brasserie, and catering types, as well as seniors’ residences in the greater Québec City region. GRA is a purchasing group that negotiates supply prices and other services related to the restaurant industry.

Further information:

Forward-Looking Statements

This press release contains certain forward-looking statements as defined under applicable securities law, including statements regarding the CCAA Proceedings and sale and investment solicitation process and the related filing of an application to the Court, the expected closing of the transactions contemplated in the Definitive Agreements, and statements about the Company’s belief and expectations and other statements that are not statements of historical fact. Forward-looking information, in some cases, can be identified by terminology such as “may”; “will”; “should”; “expect”; “plan”; “anticipate”; “believe”; “intend”; “estimate”; “predict”; “potential”; “continue”; “foresee”; “ensure” or other similar expressions concerning matters that are not historical facts. Refer in particular to section 2.2 “Development Strategies and Outlook” of the Company’s MD&A. While Management considers these assumptions to be reasonable based on information currently available to the Company, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what Colabor currently expects. For more exhaustive information on these risks and uncertainties, the reader should refer to section 7 “Risks and Uncertainties” of the Company’s MD&A. These factors are not intended to represent a complete list of the factors that could affect Colabor and future events and results, may vary significantly from what Management currently foresees. The reader should not place undue importance on forward-looking information contained in this press release, information representing Colabor’s expectations as of the date of this press release (or as of the date they are otherwise stated to be made), which are subject to change after such date. While Management may elect to do so, the Company is under no obligation (and expressly disclaims any such obligation) and does not undertake to update or alter this information at any particular time, whether as a result of new information, future events or otherwise, except as required by law.