IN THE MATTER OF THE RECEIVERSHIP OF SHAN-KAEL GROUP INC. OF THE CITY OF VAUGHAN, IN THE PROVINCE OF ONTARIO

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1 Ontario Division No, 09 Court No L IN THE MATTER OF THE RECEIVERSHIP OF SHAN-KAEL GROUP INC. OF THE CITY OF VAUGHAN, IN THE PROVINCE OF ONTARIO Notice and Statement of the Receiver (Section 245(1) and 246(1) of the Bankruptcy and Insolvency Act) The Receiver gives notice and declares that: On November 16, 2015, pursuant to an order of the Ontario Superior Court of Justice (Commercial List) (the "Receivership Order"), Grant Thornton Limited was appointed as receiver and manager ("Receiver") of all of the assets, undertakings and properties of Lance Kotton, Titan Equity Group Ltd., Executive Leasing Capital Corp., Executive Leasing Inc., Titan 230 Major Mack Inc., Titan Bathurst Inc., Shan-Kael Group Inc. ("Shan-KaeI", or the "Company"), Tread Finance Corp., 230 Major Mack Holdings Inc., Titan Bathurst Holdings Inc., Titan Real Estate Acquisition & Development Corp., Titan Real Estate Equities Inc., and Ontario Inc. (the "Titan Group"). A copy of the Receivership Order may be found on the Receiver's website at: 2. The Receiver commenced safeguarding and taking control of the assets and books and records of Shan Kael on November 18, The Receiver understands that Shan-Kael is the registered owner and manager of the retirement home known as "Villa Del Sole" located at 7890 Pine Valley Drive, Woodbridge, Ontario. 1

On November 16, 2015, pursuant to an order of the Ontario Superior Court of Justice (Commercial List) (the "Receivership Order"), Grant Thornton Limited was appointed as receiver and manager

2 Based on our review of the books and records of Shan-Kael, the book value of the Company's assets is described below: Asset Approx. Value Current Assets $352,473 Real Property $16,579,233 Other Assets Unknown 5. Notwithstanding the above book values, the Receiver has not yet been able to ascertain the fair market value of the assets. 6. The following information relates to this receivership: Head Office Address Principal Line of Locations of Business Business 2501 Rutherford Road, Real estate investment, 7890 Pine Suite 33-36, Vaughan, acquisition and Valley Drive, ON development Woodbridge, Ontario 7. PPSA searches were conducted on the Company and identified the following registrations. No acknowledgement is made by the Receiver concerning the amounts owing or the security claimed. Names of Secured Parties Foremost Mortgage Holding Corporation et al. Executive Leasing Inc. 8. A list of creditors of the Company is attached hereto. 2

Notwithstanding the above book values, the Receiver has not yet been able to ascertain the fair market value of the assets. 6.

3 9. The intended plan of action of the Receiver is to realize on the Titan Group's property by listing the real property for sale and/or such other means to maximize the overall value of the Titan Group's property. Additionally, the Receiver intends to conduct a Court approved claims process and distribute the funds to the impacted stakeholders with the authority of the Court. 10. Contact for the Receiver: Jennifer Kwon Telephone: titangroup ca.gt.com Fax: Dated at Toronto, Ontario this 24th day of November, GRANT THORNTON LIMITED its capacity as Court-Appointed Receiver of Titan Group and not in its personal or corporate capacity JohatIn Krieger, CPA, CA, CIRP StniIr Vice-President 3

Additionally, the Receiver intends to conduct a Court approved claims process and distribute the funds to the impacted stakeholders with the authority of the Court. 10.

4 Grant Thornton Limited Claims Register Insolvency Date: 1 6-Nov In the matter of the receivership of Shan-KaeI Group Inc. of the City of Concord, in the Province of Ontario Proof of Claim Status Rank / SOA Amount Admittedfor Secured creditors Executive 1. Leasing Inc Rutherford Road, Suite 33 Vaughan ON L4K 2N6 2. Foremost Mortgage Holding Corporation el al 718 Wilson Avenue, Suite 500 Toronto ON M3K 1E2 3. Shan-Kael PMI Investors No No No 2,000, ,050, ,506, Total: Secured creditors 11,556, Unsecured creditors Ontario Inc. C/O Maria Santos No 116, Wingarden Crescent Pickering ON L1V 0C2 2. Albert Laboni No Katherine Rd. Toronto ON M3K 1J7 3. Antonella Di Leo No Antonella Di Leo 4. ASupreme Nursing and Homecare No 845 Wilson Avenue # 103 Toronto ON M3K 1E6 5. B.O.S. Cleaners Inc. No 74 Twinberiy Crest Woodbridge ON ML 3X6 6. Barzula Café do Torrefazione Barzula & Importing No Limited 3117 Wharton Way Mississauga ON L4X 2B6 2, , , Batcher, Wasserman No 142, Wilson Avenue, Suite 500 Toronto ON M3K 1E3 8. Burrell Overhead Door Ltd. No Highway 7 Vaughan, ON Vaughan ON MK 1V4 9. Canada Revenue Agency No 1.00 Attn: Attn: Bankruptcy Dept. 1 Front Street West Suite 100 Toronto ON M5J 2X6 10. Canamex Dry Wall No 13, Mill St. Georgetown ON L7G 3H7 11. Cardinal Health Canada do T10284C No P0 BOX 4918 STN, A Toronto, ON Toronto ON M5W 0C9 November 26, 2015 Page 1/5

Foremost Mortgage Holding Corporation el al 718 Wilson Avenue, Suite 500 Toronto ON M3K 1E2 3. Shan-Kael PMI Investors No No No 2,000,000.00 6,050,000.00 3,506,022.

5 Insolvency Date: 16-Nov Claims Register for Shan-Kael Group Inc. - Continued Proofof Claim Status Rank/ SQA Amount Admittedfor 12. City ofvaughan-sk#12500 Tax Accounts P.O.Box 3500 NO 58, Vaughan ON L4K 5N3 13. Di Manno Bakery 10 Buttermill Ave. No 25, Concord ON L4K 3X4 14. Dignity Transportation Inc. 900 Magnetic Drive No Toronto ON M3J 2C4 15. Diva Diverse Inc. 777 Warden Aye, Unit 201 No Toronto ON M1L 4C3 16. Dr. Donato Spensierl 4600 Highway 7 Suite 205 No 1,785,60 Woodbridge ON L4L 4Y7 17. Ecolab P.O. Box 2010 No 1, Mississauga ON L4T 4H6 18. Employees No Enbridge P.O Box 644 No 2, Scarborough ON M1K 5H1 20. Estate of Ruth Ridolfo No 3, Estate of Ruth Ridolfo 21. Eye-View Drain Services Ltd. 980 Alliance Road Unit #2 No Pickering ON LIW 3M9 22. Foremost Mortgage Holding Corporation, Teib Mortgage Holding Corporation No 6,050, do Harvey Mandel, Barrister & Solicitor 55 Queen Street East, Ste 203 Toronto ON M5C 1R6 23. Forever Green Lawn & Landscape Inc. 150 Clark Blvd. Suite 218 No 4, Brampton ON L6T 4Y8 24. Home Depot P.O Box 4609 Station A No 7, Toronto ON M5W 4Z5 25. Hummingbird 8800 Dufferin St., Suite 301 No 161, Vaughan ON L4K 0C5 26. HVAC Service th Side Road, R.R. #3 No 1, Everett ON LOM ho 27. Ironstone Entrance Technologies Inc King Street West No Hamilton ON L8S 4S3 28. Mammone Disposal System Limited 8940 Jane Street No Vaughan ON L4K 2M9 29. Mancuso Paving Ltd. 64 Shaft Road No 2, Toronto ON M9W 4M2 November 26, 2015 Page 2 / 5

777 Warden Aye, Unit 201 No 678.00 Toronto ON M1L 4C3 16. Dr. Donato Spensierl 4600 Highway 7 Suite 205 No 1,785,60 Woodbridge ON L4L 4Y7 17. Ecolab P.O. Box 2010 No 1,902.

6 Claims Register for Shan-Kael Group Inc. - Continued Insolvency Date: 1 6-Nov Proof of Claim Status Rank / SOA Amount Admittedfor 30. Ministry of Finance(EHT) No 1,00 Attn: Collections Branch 33 King Street West Box 640 Oshawa ON L1H 8H5 31. Mircom / Gardia (Toronto) Inc. No 5, Interchange Way Vaughan ON L4K 5W3 VO MIR 32. Mircom Canada (Mircom Technologies Ltd.) No 2, Interchange Way Vaughan ON L4K 5W3 33. Organic Resource Managment Inc. No Steels Ave. West, Suite 601 Woodbridge ON L4L 8K8 34. Otis Canada Inc. No 2, The Queensway East Mississauga ON L4X 2Z5 35. Powerstream No 17, P.O Box 3700 Concord ON L4K 5N2 36. Pure Wireless Consulting No 1, Langstaff Rd. Suite 102 Woodbridge ON ML 9A8 37. Rogers No 3, Rogers No Rogers No Rogers No Rogers No Rogers No Rogers No Rogers No Rogers No Rogers No November26, 2015 Page 3/5

39 25 Interchange Way Vaughan ON L4K 5W3 VO 106-0 1-MIR 32. Mircom Canada (Mircom Technologies Ltd.) No 2,271.20 25 Interchange Way Vaughan ON L4K 5W3 33. Organic Resource Managment Inc. No 808.

7 Insolvency Date: 1 6-Nov Claims Register for Shan-Kael Group Inc. - Continued Proof of Claim Status Rank / SOA Amount Admittedfor Rogers Rogers No 9.18 No Rogers No Royal Alarms Ltd. No P.O. Box 263 Concord ON L4K 1B4 51. SafetyMedialnc. No Meteor Dr. Toronto ON M9W 1A4 52. SBlWoodworking No 47, Ashwood Cres. Brampton ON L6T 1M1 53. Sean Chubbuck No Balson Blvd. Stouffville ON L4A 7X3 54. Shan-Kael-Promissory Notes No 858, Shan-Kael-Tread Notes No 2,506, SNAP Woodbridge No 1, Langstaff Road, Suite #128 Woodbridge ON L4K 9A8 57. Sun-Brite Drapery No Jane St. Unit 11 Concord ON Concord ON L4K 1A8 58. Technical Standards and Safety Authority No th Floor, Centre Tower 3300 Bloor St. West Toronto ON M8X 2X4 59. The Gardener Landscape Maintenance No 1, Langstaff Road, Suite 111 Woodbridge ON ML 9A8 60. Trimen No 1, Ormont Drive Toronto, ON, Toronto ON M9L 2V4 61. Unique Care No Collard Drive King City, ON King City ON L7B 1E4 VDSOO1 62. Universal Care No 16, Duliferin St. Maple ON L4A 4R1 63. Villa Colombo Vaughan No Hwy 27 Kleingburg ON LOJ 1CO 64. Waste Management No , Avenue SW Calgary AB T2P 0T8 UNC Westport Manufacturing Co.,Ltd. No 1, S.W. Marine Drive Vancouver BC V6P 5Z3 November 26, 2015 Page 4/5

25 57 Ashwood Cres. Brampton ON L6T 1M1 53. Sean Chubbuck No 457.65 22 Balson Blvd. Stouffville ON L4A 7X3 54. Shan-Kael-Promissory Notes No 858,852.00 55. Shan-Kael-Tread Notes No 2,506,022.00 56.

8 Claims Register for Shan-Kael Group Inc. - Concluded Insolvency Date: 1 6-Nov Workplace Safety & Insurance Board P.O Box 4115 Station A Toronto ON Toronto ON M5W 2V Zeifmans 67. LLP 201 Bridgeland Avenue Toronto, On Toronto ON M6A 1Y7 Proof of Claim Status Rank / SOA Amount Admittedfor No No 6, Total: Unsecured creditors 10,137, Grand Total: 21,693, November26, 2015 Page 5/5

O Box 4115 Station A Toronto ON Toronto ON M5W 2V3 5441859 Zeifmans 67.

Barrie Region Hamilton Region

Barrie Region Hamilton Region Barrie Region Sutton L0E ON LORETTO L0G 1L0 ON TOTTENHAM L0G 1W0 ON Beaverton L0K ON Brechin L0K ON Washago L0K ON Elmvale L0L ON Stayner L0M ON SHELBURNE L0N ON HONEY WOOD L0N 1H0 ON Orillia L3V ON Newmarket