Villarboit Development Corporation ("VDC")

Guery Goyo - President

Mr. Goyo is the President of Villarboit Developments and has over 25 years of successful land development, construction, and leasing experience in the retail, commercial, industrial and homebuilding sectors.

He is an experienced negotiator and is involved in all facets of the development business including site selection and acquisitions, planning, zoning, construction and management. He has completed well in excess of 1 million square feet of construction projects and over 800 acres of land development focused on the retail sector for his own and investor accounts, as well as third party owners and retailers. His extensive retailer relationships provides a considerable advantage in the acquisition and site selection process. Passion and commitment to his work have driven a successful track record for his investors, and provides a high level of service for Villarboit's tenants and customers.

Guery has a Masters in Urban Planning specializing in land development from Queen's University.

Sandra Noest, CGA - Chief Financial Officer

Ms. Noest is the CFO of Villarboit and has overall responsibility for accounting, investor reporting, capital and treasury management, and tax planning. She is also directly involved in transaction and financing execution. She has over 25 years of real estate development, property management and finance experience.

Prior to Villarboit, Ms. Noest was Vice President of Accounting for Dundee Realty, where she was part of their Urban Development group, responsible for Toronto condominium development and commercial operations. The portfolio represented over $1 billion in development costs, and was comprised of over 2,000 residential condominiums, retail and land development lands, and also included the management of a 500,000sf commercial and retail portfolio.

Prior to Dundee, Ms. Noest was Controller for Tribute Communities, a leading builder of new homes and condominiums, and has also held senior financial positions at O&Y.

Her experience covers strategic planning, project management, retail development and cost control experience in public, private high net worth, and larger institutional investor based firms.