Solidarity Fund QFL Purchases $100 Million Unsecured Debenture

On May 26, 2008, Solidarity Fund QFL completed its $100-million investment in TransForce Inc. TransForce (TFI-T), which is headquartered in Montreal, Québec, is the leader in Canada's transportation and logistics industry and manages several independently operated wholly owned subsidiaries.

The investment is in the form of an unsecured debenture of TFI Holdings Limited Partnership a wholly owned subsidiary of TransForce and is repayable on October 30, 2013. It may be repaid, without penalty, commencing one year after the date of disbursement of the loan, subject to the approval of TransForce's syndicate of bank lenders. The loan bears interest at an annual rate of 9 per cent, payable monthly. TransForce intends to use the proceeds from the loan to support its program of strategic acquisitions.

Solidarity Fund QFL was represented by in-house counsel Rui Barao and Liette Leduc, and was assisted by a team at Ogilvy Renault LLP comprised of Paul Raymond, Niko Veilleux and Marie-Claude Mailloux.

TransForce was represented by Vice President, Legal Affairs and Corporate Secretary Josiane-Mélanie Langlois, and by Claudette Bellemare, Olivier Tardif and Neil Wiener of Heenan Blaikie LLP.