Colabor Group Inc. Releases Results of Shareholder Votes

BOUCHERVILLE, QUEBEC--(Marketwired - April 29, 2015) - Colabor Group Inc. (TSX:GCL) ("Colabor" or the "Company") today held its Annual and Special Meeting of Shareholders (the "Meeting"). A total of 14,144,892 common shares representing 51.47% of the issued and outstanding shares of the Company were represented in person and by proxy at the Meeting.

At this meeting, the following resolutions were approved:

1. Election of Directors

The 7 candidates nominated as Directors were duly elected to the Board of Directors of Colabor by majority vote, as follows:

2. Appointment of Auditors

The resolution appointing Raymond Chabot Grant Thornton, LLP, Chartered Accountants, to act as auditors of the Company until the next annual meeting of shareholders or until the appointment of their successors, and authorizing the Board of Directors of the Company to fix their remuneration, was approved in a proportion of 99.64%.

3. Confirmation of Shareholder Rights Plan

The resolution to confirm the Shareholder Rights Plan was approved in a proportion of 89.40%. The Shareholder Rights Plan (the "Plan") has been adopted by the Company to encourage a fair treatment of shareholders should a take-over bid be made for Colabor. The Plan will provide the Board of Directors and the shareholders with more time to consider any unsolicited take-over bid for Colabor. The Plan was not adopted in response to any specific proposal or intention to acquire control of Colabor.

4. Confirmation of Advance Notice By-law

The shareholders present in person or by proxy at the Meeting also approved, in a proportion of 98.47%, an ordinary resolution providing an advance notice requirement for Director nominations (the "Advance Notice By-Law").

The full texts of the Plan and the Advance Notice By-Law can be found at SEDAR, www.sedar.com, under the Company's profile.

Claude Gariépy, President and Chief Executive Officer of the Company, commented: "I would personally like to thank all of our shareholders for their sustained support. It is very encouraging to see a strong turnout, and the shareholders' approval of the Directors of the Company continues to give us important support as we go forward."

ABOUT COLABOR

Colabor is a distributor and wholesaler of food and non-food products serving the foodservice market (cafeterias, restaurants, hotels, restaurant chains) in Québec, Ontario and the Atlantic provinces, as well as the retail market (grocery stores and convenience stores).

FORWARD-LOOKING STATEMENTS

This news release may contain forward-looking statements reflecting the opinions or current expectations of Colabor Group Inc. concerning its performance and business operations and future events. These statements are subject to risks, uncertainties and assumptions. Actual results and events may differ. The Company assumes no obligation beyond what is required under law to update forward-looking statements pursuant to changes in the beliefs, estimates and opinions of management or to other factors.