XS Cargo Income Fund

XS Cargo Income Fund is an unincorporated open-ended investment trust governed by the laws of the Province of Alberta pursuant to the Declaration of Trust.

The Fund was established for the purposes of investing in the broadline closeout retailing business. The Fund holds, through XS Cargo Operating Trust ("XSCOT"), limited partnership units representing a 51% interest in XS Cargo Limited Partnership ("XS Cargo LP" and, together with its general partner, XS Cargo GP Inc. (the "GP"), the "Company"). The Vendor, which is owned by the Company's Chief Executive Officer, Michael McKenna, and other members of Company Management, holds the remaining 49% interest in the Company.