Who is Patrick A. Gouveia and the Spire Group of Companies

Patrick A. Gouveia is the Past Chairman of the International Association of Refrigerated Warehouses (“IARW”), headquartered in Washington, D.C., a world-wide association that aggressively promotes more efficient distribution services of temperature-controlled products, aids members in new technology, advises members in complying with local and international regulations, participates in alliances with industry and international organizations having interest in the safe and efficient flow of frozen and chilled food products around the world. In his capacity as Chairman, Mr. Gouveia dealt with senior management of member firms from around the world.

Mr. Gouveia began his public refrigerated warehouse “PRW” career in 1973 at Odyssey Industries, the parent company of Associated Freezers of Canada. Mr. Gouveia held a number of senior executive positions between 1973 and 1986 and rose to the position of Chief Financial Officer.

Spire Group Limited was founded by Mr. Patrick A. Gouveia in 1986 to acquire and expand the public refrigerated warehouse business in North America, in his position as President and CEO and sole shareholder. The head office of Spire Group is and has always been located in Toronto, Ontario, Canada. Mr. Gouveia resides in Toronto, Ontario, Canada. Spire Group’s objective is to supply senior executive and strategic planning for all of its subsidiaries.

The first series of acquisitions involved 11 facilities, 1 owned by the Diamond family of Winnipeg, Manitoba operating under the marquee of Diamond Cold Storage, 2 owned by the Levy family of Winnipeg, Manitoba operating under the marquee of Winnipeg Cold Storage and Manitoba Cold Storage, 7 previously owned by Trans Canada Freezers, and 1 facility in Edmonton, Alberta operating under the marquee of North Star Cold Storage. Together these acquisitions involved a total of approximately 2 million square feet under roof with a value of $54 million, while managing a staff of 350.

Mr. Gouveia consolidated these facilities under the marquee of Trans Canada Freezers and expanded by way of an addition of a 70-foot high (2.5 million cu.ft.) narrow aisle facility in Montreal, an expansion of a 36-foot high (600,000 cu.ft.) facility in Chatham, Ontario, an expansion of a 40-foot high (1 million cu.ft.) facility in Calgary, Alberta, and a greenfield 70-foot high (2 million cu.ft.) narrow aisle facility in Delta, British Columbia. Trans Canada Freezers during that period also entered the refrigerated transportation industry by developing a less-than-truck-load freight company. Trans Canada Freezers employed 550 individuals.

In 1990, Mr. Gouveia entered the United States market and acquired 5 cold storage facilities in Green Bay and Appleton, Wisconsin and expanded one of the facilities in Appleton with a 40-foot high (1.6 million cu.ft.) addition operating under the marquee of Atlas Cold Storage. Mr. Gouveia operated Atlas Cold Storage as a stand-alone business with its independent operation management, engineering, sales & marketing and accounting staff. Atlas Cold Storage employed 120 individuals.

In 1994, the Canadian facilities and the transportation business of Trans Canada Freezers were sold to Versacold of Vancouver, British Columbia.

In 1994, Atlas Cold Storage acquired 2 public refrigerated warehouse facilities in St. Paul and Brooklyn Park, Minnesota from Bell Cold Refrigerated Services.

In 1996, Mr. Gouveia acquired the leasehold interests in 2 refrigerated facilities in Toronto, Ontario and commenced the program of developing the public refrigerated warehouse business in the Canadian marketplace under the marquee of Atlas Cold Storage.

In 1997, Mr. Gouveia constructed a greenfield (defined as a newly constructed facility in a new market) 70-foot high (3.2 million cu.ft.) narrow aisle public cold storage facility in Vaughan, Ontario. This facility was expanded in 1999 (2.1 million cu.ft) and further expanded in 2002 (2.3 million cu.ft.) and currently has a capacity of 27,000 pallets and designed for a temperature of -20°F. This facility was built primarily to accommodate the ice cream distribution requirements of Good Humor/Breyers, a division of Unilever Corporation.

In 1998, Atlas Cold Storage designed and constructed a greenfield facility, 46-foot high (5.8 million cu.ft.) under a long-term agreement for Good Humor/Breyers, a division of Unilever Corporation in Sikeston, Missouri.This distribution facility was connected to a state-of-the-art ice cream production centre constructed in the same year by Good Humor/Breyers and designed to maintain a temperature of -20°F with a capacity of 20,000 pallets.

Also, in 1998, Atlas Cold Storage constructed a greenfield facility, 56- foot high (4.4 million cu.ft.) narrow aisle public cold storage facility in Montreal, Quebec. This facility was expanded in 2001 to a height of 65 feet high (2.3 million cu.ft.), narrow aisle and again in 2002 with an additional 1.6 million cu. ft., a total capacity of 25,000 pallets.

In 1999, Atlas Cold Storage expanded the Brooklyn Park facility, 50- foot high (1.8 million cu.ft.). Also in 1999, Atlas constructed a greenfield 56-foot high (4.4 million cu.ft.) narrow aisle public cold storage facility in Delta, British Columbia.

At the end of 1999, Atlas Cold Storage employed approximately 500 individuals and operated 13 sizeable public refrigerated warehouse facilities utilizing state-of-the-art computerized warehouse management systems.

In August, 2000, Atlas Cold Storage completed a reverse take-over of Associated Freezers Income Trust, a public Toronto Stock Exchange “TSX” listed company, involved in the public refrigerated warehouse business with 19 facilities in Canada and the United States. The Associated Freezers brand name was eliminated and replaced with the Atlas Cold Storage marquee. Mr. Gouveia held 20% of the public listed company shares.

At the time of the public offering Mr. Gouveia retained ownership of approximately 790,000 square feet of freezer warehouses located in five different locations in Green Bay and Appleton, Wisconsin. These properties are currently leased on a long-term basis until 2025 with 2 five-year options by Americold Real Estate, L.P., the largest PRW in the world. In 2010, the Appleton facility was sold to the tenant.

In 2001, Atlas Cold Storage acquired 2 public refrigerated warehouse facilities from Blue Star Cold Storage in Surrey, British Columbia and Calgary, Alberta for a total of 8.6 million cubic feet. In 2002, the Calgary facility was expanded with a 65-foot high (1.9 million cu.ft.) addition.

In 2002, Atlas Cold Storage acquired 3 public refrigerated warehouse facilities in Minneapolis, Minnesota from Coolstor. Atlas Cold Storage also acquired 14 public refrigerated warehouse facilities from a New York Stock Exchange listed company, Christian Salvesen Inc. Included in this acquisition was a contract to supply management services to 4 Kroger retail distribution centres. These distribution centres employed 2,000 individuals. During 2002, Atlas also acquired significant assets of a Canadian refrigerated transportation company with the intent to complement its public refrigerated warehouse services.

In 2003, Atlas Cold Storage employed approximately 4,500 employees and owned or managed 54 facilities in the United States and Canada with a total buildings area of approximately 3,500,000 square feet. In 2003, Atlas Cold Storage had an enterprise value in excess of $1 billion and was the second largest PRW in North America. At that time, Mr. Gouveia’s position was President and CEO, with total overall operating responsibility and a significant shareholder in the public company.

Mr. Gouveia resigned from Atlas Cold Storage in November, 2003 and has since devoted his time carefully building joint venture partnerships with large private enterprises to develop the public refrigerated warehouse business in Canada, United States, India, Eastern Europe and New Zealand. These are all structured as operating companies, not investment real estate, and will be state-of-the-art temperature-controlled distribution facilities with outstanding growth potential in the individual companies.

In January, 2007, the company leased a cold storage facility in Lachine, Quebec and operated as Everest Cold Storage a 9,500 pallet position warehouse. The company also operated a refrigerated transportation company with a fleet of 250 tractors and refrigerated trailers.

In April, 2009 a newly constructed 98,000 square foot temperature-controlled facility with a clear height of 66 feet, capable of maintaining temperatures of -20°C was opened in Dorval, Quebec. The facility has 15,000 pallet positions, 14 dock doors.

In the Republic of Georgia, the company had under management a 6,500 square meter, 9,000 pallet position temperature-controlled facility which opened July 15, 2011 and the contract expired in April, 2014. In September, 2012, a joint venture agreement was entered with Samsara Fund Advisors Limited to build and operate a number of temperature-controlled facilities in the major cities of India. The first of seven facilities will commence operations in April, 2017. In September, 2013 the company acquired a 10,000-pallet position temperature-controlled facility in Auckland, New Zealand and is currently negotiating the construction of a 12,000-pallet position temperature-controlled facility in Auckland.

Mr. Gouveia and his management team have the experience and ability to create greenfield facilities with the design and implementation of the necessary systems to create a successful operation for its customers. Mr. Gouveia has operated large real estate enterprises since 1973.

For further information, visit our website www.groupspire.com.