Colabor Group inc. provides update on review of conversion transaction

30 May 2022

BOUCHERVILLE, QUEBEC – January 25, 2013
Colabor Group Inc. (TSX: GCL) (“Colabor” or the “Company”) announces that it has met today with representatives from the Canada Revenue Agency (“CRA”) and has received from the CRA a draft notice of reassessment challenging the tax consequences of its conversion (“Conversion”) from an income fund structure to a corporation in August 2009. The CRA is arguing that the Conversion falls under general anti-avoidance rule of the Income Tax Act (Canada) (the “Income Tax Act”).