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Clinical trial shows Wobenzym® has a significant effect on exercise-induced fatigue, muscle soreness and damage in endurance athletes

Study confirms substantial and significant effects of Wobenzym® in attenuating exercise-induced muscle damage and delayed onset muscle soreness in endurance athletes

Pittsburgh, PA, March 13, 2017 – A new study published today in BMJ Open Sport & Exercise Medicine shows promising results for Wobenzym®, a form of systemic enzyme therapy (SET), in mediating muscle fatigue, reducing soreness, and attenuating potential muscle damage in endurance athletes. Researchers at The Sports School at Fuerstenfeldbruck-Puch Germany conducted the trial, using Wobenzym plus contributed by Mucos Pharma, a subsidiary of Atrium Innovations.

Exercise-induced muscle damage (EIMD) and its most common symptom, delayed onset muscle soreness (DOMS), can impact an athlete’s training frequency and performance. This trial investigated the effects of SET before and after exhaustive eccentric exercise on functional and biochemical parameters of EIMD and DOMS in male sportsmen with medium performance level.

Researchers at The Sports School at Fuerstenfeldbruck-Puch Germany administered Wobenzym in a randomized, placebo-controlled trial to male athletes aged 20-50 in order to examine the effects of SET on fatigue, muscle soreness and damage, as well as on immunological and metabolic biomarkers. Using Wobenzym before and after exhaustive eccentric exercise helped maintain strength and reduce pain in less resistance-trained, endurance athletes while showing significant favorable effects in inflammatory, metabolic and immune biomarkers in all subjects.

These positive results may be due in part to Wobenzym’s role in mediating the body’s natural inflammatory processes. Wobenzym may affect EIMD and DOMS by balancing the inflammatory response to stress and damage incurred by exercise.

“This study confirms there is a substantial and significant effect of SET on fatigue, muscle soreness and damage, as well as immunological and metabolic markers,” explained Tobias Marzin, lead researcher. “The use of Wobenzym in this trial showed a significant reduction in inflammatory biomarkers training across all levels, indicating that SET supports normal inflammatory processes for muscle recovery and may be an alternative for clinicians in the treatment of muscle fatigue and soreness.”

Mucos Pharma GmbH & Co. KG contributed Wobenzym® for use in this study.

For more information, view the full study.

About Mucos Pharma
MUCOS Pharma, headquartered in Berlin, has an extensive history in Systemic Enzyme Therapy spanning over 50 years. Mucos offers the Wobenzym® product range throughout Europe, Asia and the Americas and is globally recognized in the joint health market. Wobenzym products, in addition to their rich clinical history, are well-known within the medical community for numerous benefits in the health of joints, muscles, and tendons. MUCOS Pharma prides itself on bringing high quality systemic enzyme products to patients and practitioners worldwide.

About Atrium Innovations
Atrium Innovations Inc. is a globally recognized leader in the development, manufacturing and commercialization of innovative, science-based, natural health products that are distributed in more than 35 countries. The company owns healthcare practitioner and specialized retail product brands that are at the forefront of science, innovation and education. Atrium has over 1,300 employees and operates seven manufacturing facilities, all of which comply with Current Good Manufacturing Practices. The family of Atrium Innovations brands includes Pure Encapsulations, Garden of Life, Wobenzym®, Genestra Brands, Douglas Laboratories and Klean Athlete.

Update on our Growing Together Program

Our collective purpose across Atrium Innovations is to EMPOWER HEALTHIER LIVES. We cherish this mandate and work towards its fulfillment each and every day by delivering scientifically sound, innovative and quality natural health supplements, that enable people to live longer, healthier lives. We also believe in the importance of giving back to those in need. Back in 2010, Atrium Innovations created the Growing Together Program. The mission of this initiative is to make a positive and lasting impact on the health of those in need, in both the developing world and within the communities in which we live and work. Promoting health and well-being is a fundamental value that defines not only what we do, but who we are.

 We are particularly proud that the Growing Together Program has been spearheaded and driven by Atrium’s employees from around the world. Each of our business units is represented on the program’s steering committee, and people from virtually every level of our organization have been involved in the effort in one capacity or another. As part of our Growing Together Program, our partnership with SOS Children’s Villages has resulted in many wonderful and impactful endeavors that have helped support vulnerable children in Peru, Haiti, the United States, Germany and Canada. Since 2010, Atrium has raised over $520,000CDN for SOS initiatives. Below are a few of the highlights:

Going forward, we intend to continue to partner with this wonderful organization, to provide further assistance to children and families in need. Of course our Growing Together Program goes far beyond our partnership with SOS children’s Villages and sees us engaging in a variety of important community activities and making considerable contributions to various local organizations in the communities in which we live and work. Some of our participation in 2016 has included a donation to the Fort McMurray fire relief initiative and contributions to local foods banks. Garden of Life also raised over $20,000 for Special Olympics Palm Beach thanks to their annual GoL Sun Run, while Atrium continued its ongoing sponsorship of local up and coming athletes, as well as initiated a myriad of diverse fundraising initiatives throughout the year to support the community and those in need.

Indeed much to be proud of, yet so much more still to do.

Atrium Innovations appoints Jason Zhang as Managing Director of Asia Pacific & Greater China

Atrium Innovations is recognized worldwide as an innovative leader in the development, manufacturing, and commercialization of science-based nutritional health products of the highest quality. We have leading brands such as Garden of Life, the #1 brand in the natural products industry in the U.S., and Pure Encapsulations a leader in the professional channel in the U.S. and key markets throughout Europe. Currently, Atrium Innovations participates in about half of the total global market for supplements.

A key priority for Atrium Innovations is to enter new markets with its leadership brands. Asia Pacific, the largest supplement market in the world and specifically China, the 2nd largest market globally, has been the focus of our recent efforts. China represents a significant opportunity as many Chinese consumers desire foreign brands, especially “clean” brands with natural ingredients. Atrium just recently launched its Garden of Life brand into China this fall via cross border e-Commerce. Offering a full line of certified USDA Organic and Non GMO Project Verified supplements, Garden of Life is a perfect fit to meet the needs of the Chinese consumer.

To help us spearhead our recent launch into China, I am pleased to announce the appointment of Mr. Jason Zhang as Managing Director of Asia Pacific & Greater China, effective November 16, 2016. Jason will be responsible for helping establish Atrium Innovations as a leading supplement business in Asia Pacific, with his initial focus being on building our presence in China. Once this launch has been successfully established, Jason will be responsible for helping Atrium further expand its brands into other key markets within the Asia Pacific region.

Jason brings over 20 years of diverse business leadership experience, with a finely tuned expertise in China. Most recently, Jason occupied the position of Country Manager for Blackmores in China. Earlier in his career, Jason served as Director of Consulting for Kantar Retail, where he helped leading companies such as Colgate, Pepsi, Unilever and Mars develop market entry plans into the Asia Pacific marketplace.

Jason has a Law degree from Suzhou University in China and an MBA from Leeds University in the UK.

We are extremely pleased to have Jason join us and look forward to much success with this new expansion into the Asia Pacific market.

Peter Luther
President & CEO

Atrium Innovations Receives Nutrition Business Journal Award for Achievement in Science and Innovation

Barry_Ritz_award

Barry Ritz, Vice President of Scientific and Regulatory Affairs for Atrium Innovations Accepts 2016 NBJ Business Award for Achievement in Science and Innovation.

Leading industry publication praises company’s dedication to furthering the science behind supplements.

Montreal (Quebec), June 21, 2016 — Atrium Innovations Inc., a globally recognized leader in the development, manufacturing and commercialization of innovative, science-based, nutritional supplements, has been named the recipient of the prestigious 2016 NBJ Business Award for Achievement in Science and Innovation. The Nutrition Business Journal formally presented the award last week as part of the 2016 NBJ Summit in Dana Point, California, praising the company’s history of leading innovation and long-standing commitment to being on the forefront of furthering the science and education behind nutritional supplements.

“At Atrium Innovations, we are committed to investing in research, and leveraging that research to develop safe, effective products for healthcare practitioners and health-conscious consumers. We are devoted to doing things the right way — that begins with our research efforts, and carries through to our ingredient sourcing, strict manufacturing requirements and quality assurance process,” said Barry Ritz, Vice President of Scientific and Regulatory Affairs for Atrium Innovations. “It is truly an honor to be recognized for this commitment to science and industry thought leadership.”

Atrium Innovations’ unique applied clinical research program not only focuses on the research and innovation of Atrium’s own products, but also serves to elevate the status of nutrition science through cutting-edge research and innovative partnerships. Recently, Atrium brand Pure Encapsulations launched a $1 million, multi-year partnership with the Cleveland Clinic Center for Functional Medicine supporting initiatives in clinical research, education, medical curriculum development, and policy change. Atrium has also engaged in a multi-year, multi-million dollar partnership with the Institute of Nutrition and Functional Foods at Laval University that focuses on investigating the role of nutrition on cardiometabolic health. This partnership has not only yielded key findings in the field of nutrition science but has also led to the development of several new formulas backed by clinical findings. In addition to these efforts, Atrium actively supports top academic partners worldwide on an ongoing basis through the provision of study products, matched placebos and technical expertise. Atrium’s continuous advancement of nutrition science, both through applied clinical research and investigator-initiated programs, has resulted in the publication of over 26 original research papers in peer-reviewed scientific journals to date, with another 20 studies still in progress.

For more information about the NBJ award, read the 2016 awards issue.

For more information about Atrium Innovations’ commitment to research, please visit atrium-innovations.com/research.

About Atrium Innovations
Atrium Innovations Inc. is a globally recognized leader in the development, manufacturing and commercialization of innovative, science-based, natural health products that are distributed in more than 35 countries. The company owns healthcare practitioner and specialized retail product brands that are at the forefront of science, innovation and education. Atrium has over 1,300 employees and operates seven manufacturing facilities, all of which comply with Current Good Manufacturing Practices. The family of Atrium Innovations brands includes Pure Encapsulations, Garden of Life, Wobenzym, Genestra Brands, Douglas Laboratories and Klean Athlete.

Additional information is available at atrium-innovations.com.

BÉNÉFIQ’s 2014 Diamond Sponsor

Montreal (Quebec), June 26, 2014 Atrium Innovations Inc. (the “Company”), a globally recognized leader in the development, manufacturing, and commercialization of innovative, science-based, natural health products, is proud to announce its diamond sponsorship of BÉNÉFIQ 2014, an international rendezvous in Quebec City, Canada dedicated to health ingredients.

“Atrium is proud to sponsor BENEFIQ for the strong research and educational component, business networking opportunities and exposure it offers to this growing industry of health ingredients and products,” said Barry W. Ritz, PhD, Vice President of Scientific and Regulatory Affairs at Atrium Innovations. “Quebec City-based Institute of Nutrition and Functional Foods (INAF), who initiated BENEFIQ, has been Atrium’s strategic academic research partner for the last 3 years in finding nutritional strategies to help address metabolic syndrome.”

In 2011, Atrium Innovations launched its Applied Clinical Research Program and established its commitment to comprehensive cardio-metabolic research with specific studies in collaboration with INAF on the health benefits of small fruit polyphenols, fish oil and Atrium’s systemic enzyme formula Wobenzym®. Some of the research results from this effort will be presented for the first time at BENEFIQ.

“We are thrilled to have leaders like Atrium Innovations join, sponsor, and participate in this one-of-a-kind, world-class scientific and business event dedicated to the transfer of research results, innovation and the promotion of health ingredients and functional foods. As an industry leading event, BENEFIQ attracts scientists, key speakers, business people and companies from here and abroad,” said Renée Michaud, Executive and Business Development Manager at INAF and Co-chair of BENEFIQ’s Organizing Committee.

Peter Luther named President and Chief Executive Officer

Picture1MONTREAL, June 5, 2014 – Atrium Innovations Inc. (“Atrium” or the “Company”), a globally recognized leader in the development, manufacturing and commercialization of innovative, science-based natural health products, announced today that Peter Luther, former President of Johnson & Johnson Consumer Healthcare, has been named President and Chief Executive Officer of Atrium, effective at the end of June.  He succeeds Pierre Fitzgibbon, who, as previously announced, will leave the Company by mutual agreement with the Board of Directors. The Company also announced that Jacques Bougie, former President and CEO of Alcan Inc., W. Brian Edwards, founder and former CEO of BCE Emergis, and Mr. Luther will join Atrium’s Board of Directors.  Mr. Bougie will serve as Chairman of the Board and be based in Montreal, Québec.

Mr. Luther, 49, has 25 years of experience in the consumer packaged goods and healthcare industries. Since 1987, he has worked for Johnson & Johnson and has served as President of several of the company’s large divisions over the past 10+ years.His most recent role was President of the Consumer Healthcare business. In this role, Mr. Luther drove over $2.0 billion in annual retail sales in 2013 across 17 of the world’s most iconic brands, including Listerine®, Band-Aid® and Neosporin®.

On behalf of Atrium’s owners – the Permira Funds, Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec – John Coyle, Partner at Permira, said, “We are thrilled to have attracted an executive of Peter’s caliber to lead Atrium and capitalize on the Company’s numerous growth opportunities. His leadership skills, deep appreciation of industry regulation, keen focus on innovation, and proven track record of growing consumer brands make him a perfect fit for Atrium as the Company moves forward on its path to becoming a branded, global leader in the health products space. We look forward to working closely with Peter and the entire senior management team as they continue to grow this outstanding Company.”

Mr. Luther commented, “I’m honored to have been selected to serve as Atrium’s next CEO and am excited by the potential of this impressive Company.  I have great respect for Atrium’s commitment to innovation and quality, its growth trajectory and customer loyalty, and I am energized to work closely with the management team and talented employees as the Company embarks on the next phase of its growth.  I see tremendous opportunities to build on Atrium’s product portfolio and advance commercialization and global distribution while upholding the Company’s unwavering commitment to high quality products that improve peoples’ lives.”

Prior to his role as President of Johnson & Johnson Consumer Healthcare, Mr. Luther served as President of Johnson & Johnson’s McNeil Consumer Healthcare with responsibility for such brands as Tylenol®, Motrin®, Zyrtec® and Benadryl®.  Previous roles included President of Johnson & Johnson Beauty Care with brands such as Neutrogena®, Aveeno®, Clean & Clear® and Lubriderm® and President of LifeScan, Inc., a manufacturer and marketer of glucose monitoring systems under the One Touch® brand. Mr. Luther received his Masters of Management from the Northwestern University Kellogg Graduate School of Management, and his BA from Kenyon College.

Mr. Coyle continued, “On behalf of the Board of Directors, we would also like to welcome our new Board members. Jacques has an outstanding leadership track record along with significant operational and international experience, and we are confident that both he and Brian will provide unique insights and value to our Board in the years ahead.”

Mr. Bougie was the President and CEO of Alcan Inc., a Québec-based global aluminium producer and packaging products supplier, from 1993 to 2001.  In this role, he spearheaded the greatest expansion in the company’s history through its acquisition of AluSuisse in 2000 and laid the groundwork for the acquisition of the French group Péchiney in 2004.  Before serving as CEO, he was President and COO of Alcan from 1989 to 1993.  Over the past 25 years, Mr. Bougie has served on the boards of Royal Bank of Canada, Bell Canada, BCE Mobile Communications, Nova Chemicals, Rona, Novelis, and AbitibiBowater and currently sits on the boards of McCain Foods, CSL Group and SNC-Lavalin Group.  He currently chairs the Advisory Board of the Montréal Neurological Institute and Hospital and serves on the Board of Directors of a number of foundations.

Mr. Edwards is the founder and former CEO of BCE Emergis, one of North America’s most successful electronic commerce companies. Under his leadership from 1988 to 2002, the company grew from a small start-up to a company with revenues of over $650 million and more than 2,000 employees.  Mr. Edwards presently serves as Chairman of the Board of Atmanco Inc., a company that helps leaders and managers choose the right human resources, and is a member of the Boards of Directors of Camoplast Solideal Inc and Transat AT Inc.  Mr. Edwards is very active in the community and currently serves on the Board of the Concordia University Foundation and the Adaptive Sports Foundation.

Messrs. Luther, Bougie and Edwards join Atrium’s existing Board members: John Coyle, Henry Minello, Simon Marc and Yvon Bolduc.

Announcement of a Management Transition

MONTREAL, April 8 2014 – Atrium Innovations Inc. (“Atrium” or the “Company”), a globally recognized leader in the development, manufacturing and commercialization of innovative, science-based natural health products, announced today that Pierre Fitzgibbon, President and CEO of Atrium, will step down from the Company in 2014, by mutual agreement with the Board of Directors. Mr. Fitzgibbon will remain President and CEO while the Board conducts a search for his replacement and will continue to be one of Atrium’s largest individual shareholders after his departure.

On behalf of Atrium’s owners – the Permira Funds, Fonds de solidarité FTQ and Caisse de dépôt et placement du Québec – John Coyle, Partner at Permira, said, “Pierre’s leadership has been critical to developing Atrium and its portfolio of leading global brands into the successful business it is today. We are grateful for his contributions and are pleased that he has agreed to remain in his position to ensure a smooth management transition over the coming months. Atrium has tremendous opportunities ahead and we are confident we will identify a world-class leader to continue the company’s accelerated growth and expansion.”

Mr. Fitzgibbon stated, “I am very proud of what our team has achieved and believe that we have established a very strong platform from which the Company can pursue growth and continue to provide outstanding products for our customers. Leading Atrium for the past seven years has been a very rewarding experience in my career and both the Board and I concluded that 2014 is the right time for the Company to find a new leader as I am eager to pursue other interests.”

The Board has retained Spencer Stuart, one of the world’s leading executive search consulting firms, to conduct the CEO search. Separately, the Board has also retained J. Robert Swidler & Associates, based in Montreal, to lead the search for a Québec resident Chairman.

Announcement of the Completion of Acquisition by the Permira Funds

MONTREAL, Feb. 13, 2014 /CNW Telbec/ – Atrium Innovations Inc. (TSX:ATB & ATB.DB) (“Atrium”   or   the   “Corporation”),   a   globally   recognized   leader   in   the   development, manufacturing and commercialization of innovative, science-based natural health products, announced today the successful completion of the previously announced plan of arrangement (the “Arrangement”) providing for the acquisition of all of the outstanding common shares of Atrium (“Atrium Shares”) by corporations backed by the Permira funds (“Permira”) and the acquisition  by  the  Corporation  of  all  of  its  outstanding  5.75%  convertible  unsecured subordinated debentures (“Atrium Debentures”).Pursuant to the Arrangement, the former holders of Atrium Shares (other than the shares rolled over by  Fonds de solidarité des travailleurs du Québec (F.T.Q.) (“Fonds”) and  Caisse de dépôt et placement du Québec (“CDPQ”)) will receive, for each Atrium Share held, $24.00 in cash, and the former holders of Atrium Debentures will receive, for each $1,000 principal amount of Atrium Debentures, a cash amount of approximately $1,150 (representing the aggregate of $1,000 in principal amount, accrued and unpaid interest on such principal amount to, but excluding, February 13, 2014, and the interest that would otherwise be payable thereon from and including February 13, 2014 to, but excluding, March 15, 2014, as well as the applicable “make whole premium” on the basis of a stock price of $24.00).

Permira has delivered to  Computershare Investor Services, the depositary for the Arrangement, sufficient funds to enable the depositary to make the payments described in the Arrangement. In accordance with the Arrangement, payment will be made by the depositary to the holders of the Atrium Shares and Atrium Debentures as soon as practicable following the date hereof.

It is anticipated that the Atrium Shares and the Atrium Debentures will be delisted from the Toronto Stock Exchange on or about February 14, 2014.

About Atrium

Atrium Innovations Inc. (TSX: ATB & ATB.DB) is a globally-recognized leader in the development, manufacturing, and commercialization of innovative, science-based natural health products which are distributed in more than 35 countries. The Corporation owns healthcare practitioner and specialized retail product brands that are at the forefront of science, innovation and education. Atrium has over 1,300 employees and operates seven manufacturing facilities with current Good Manufacturing Practices. Additional information is available at www.atrium- innovations.com.

Cautionary Note and Forward-Looking Statements

This press release contains certain forward-looking statements with respect to the Corporation. These forward-looking statements, by their nature, require the Corporation to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements are not guarantees of performance. These forward- looking statements, including financial outlooks, may involve, but are not limited to, comments with respect to the Corporation’s business or financial objectives, its strategies or future actions, its targets, expectations for financial condition or outlook for operations and future contingent payments. Words such as “may”, “will”, “would”, “could”, “expect”, “believe”, “plan”, “anticipate”, “intend”, “estimate”, “continue”, or the negative or comparable terminology, as well as terms usually  used  in  the  future  and  the  conditional,  are  intended  to  identify  forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. The Corporation considers these assumptions to be reasonable based on information currently available to it, but cautions the reader that these assumptions regarding future events, many of which are beyond its control, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Corporation and its business.

For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made in this press release, see the Corporation’s quarterly and annual Management Discussion and Analysis for the fiscal year ended December 31, 2012 and the management information circular dated December 17, 2013 each filed with the Canadian securities commissions. The forward-looking information set forth herein reflects the Corporation’s expectations as at the date of this press release and is subject to change after such  date.  The  Corporation  disclaims  any  intention  or  obligation  to  update  or  revise  any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.

Atrium Innovations Inc. Receives Investment Canada Act Approval for the Arrangement with the Permira Funds

MONTREAL, Feb. 10, 2014 /CNW Telbec/Atrium Innovations Inc. (TSX:ATB & ATB.DB) (“Atrium” or the “Corporation”), a globally recognized leader in the development, manufacturing and commercialization of innovative, science-based natural health products, is pleased to announce that pursuant to the terms of the Investment Canada Act, the Minister of Industry (the “Minister”) has approved the previously announced plan of arrangement (the “Arrangement”) providing for the acquisition of all of the outstanding common shares of Atrium by corporations backed by the Permira funds and the acquisition by the Corporation of all of its outstanding convertible debentures. The Minister reviewed the Arrangement pursuant to the Investment Canada Act, and determined that it is of net benefit to Canada. In addition, the Corporation has received clearance from the Ukrainian competition authorities with respect to the Arrangement.

Completion of the Arrangement remains subject to the satisfaction or waiver of certain other closing conditions customary in transactions of this nature. Subject to their satisfaction or waiver, it is anticipated that the Arrangement will be completed on February13, 2014.

Atrium Innovations’ Securityholders Approve Arrangement with the Permira Funds

MONTREAL, Jan. 21, 2014 /CNW Telbec/  Atrium Innovations Inc. (TSX:ATB & ATB.DB) (“Atrium”   or   the   “Corporation”),   a   globally   recognized   leader   in   the   development, manufacturing and commercialization of innovative, science-based natural health products, announced today that its shareholders and convertible debentureholders (together the “Securityholders”) have approved the resolution authorizing the previously announced plan of arrangement (the “Arrangement”) providing for the acquisition of all the outstanding Atrium shares for cash consideration of $24.00 per common share by corporations backed by the Permira funds and the acquisition by the Corporation of all of its outstanding convertible debentures. Pursuant to the Arrangement, Atrium’s senior management will be rolling over up to approximately $8 million of equity investment in the Corporation.

The Arrangement resolution required the approval of 66 2/3% of the votes cast by shareholders of Atrium and of a simple majority of the votes cast by shareholders of Atrium other than Fonds de solidarité des travailleurs du Québec (F.T.Q.), Caisse de dépôt et placement du Québec and senior management (collectively, the “Interested Shareholders”), in each case present in person or represented by proxy at the special meeting of Securityholders (the “Special Meeting”).

The  approval  of  the  Atrium  convertible  debentureholders  was  also  sought  at  the  Special Meeting to allow the convertible debentureholders to participate in the Arrangement. The participation in the Arrangement of the Atrium convertible debentureholders required the affirmative vote of 66 2/3% of the principal amount of convertible debentures held by the convertible debentureholders present in person or represented by proxy at the Special Meeting.

The Arrangement resolution was approved by 98.9% of the votes cast by shareholders of Atrium present or represented by proxy at the Special Meeting (including 98.4% of the votes cast by shareholders of Atrium other than the Interested Shareholders) and by 99.9% of the votes cast by convertible debentureholders of Atrium present or represented by proxy at the Special Meeting.

The Arrangement is also subject to approval by the Superior Court of Québec (Commercial Division) at a final hearing which has been scheduled to be held on January 27, 2014, at the Montréal Courthouse, in Montréal, Québec at 9:00 a.m. (Montréal time) or as soon thereafter as counsel may be heard. It is anticipated that the Arrangement will be completed in February 2014,  subject  to,  without  limitation,  court  approval  as  set  forth  above,  obtaining  required regulatory approvals and the satisfaction or waiver of the other conditions precedent.