The Port Renfrew Development Trust (the "Fund") is an approved mutual fund trust. The Fund was created to take advantage of a unique real estate and development opportunity and to participate in the potential gains from the acquisition, holding and development of properties which the Manager believes to be undervalued relative to the current economic conditions. Specifically, the Fund will invest through a Business Trust in Limited Partnership Units. The Limited Partnership will execute an opportunistic asset acquisition strategy to purchase up to five parcels of land in Port Renfrew BC. The Limited Partnership has acquired five parcels (approximately 436 acres) of prime high bank ocean view land (the "Property") which is situated on a forested bluff at the edge of Port Renfrew's harbour. The Property lies directly across the bay from the Pacific Rim National Park and is at the southern end of the world renowned West Coast Trail.