1940972 Alberta Ltd acquired assets of Imperial Distributors Canada Inc. from Imperial Equities Inc. (TSXV:IEI) for CAD 10 million on December 31, 2015. Under the terms of deal, 1940972 Alberta Ltd will pay CAD 2.1 million in cash on the closing date and a further cash sum of CAD 1.2 million on or before January 22, 2016 for a total cash payment of CAD 3.3 million. This cash payment contemplates the CAD 2.8 million shareholder loan to be paid in full plus an initial payment of CAD 0.5 million to be applied toward the share price. The balance of the share price being CAD 1 million will be carried by Imperial and shall be paid by the 1940972 Alberta to Imperial in 2 annual payments of CAD 0.5 million each, on each anniversary date following the closing date. 90 days following the closing date, Sine Chadi, President of IDCI will continue to act as General Manager of IDCI following which he will resign and the 1940972 Alberta shall take over all aspects of IDCI management. The deal was subject to certain escrow conditions, contemplates all aspects of the operations of IDCI to remain as a going concern.

1940972 Alberta Ltd completed the acquisition of assets of Imperial Distributors Canada Inc. from Imperial Equities Inc. (TSXV:IEI) on December 31, 2015.