The Fund distributes a substantial amount of its available cash to its unit holders.

The actual amount that the Fund distributes to its unit holders is determined at the discretion of its Trustees and the directors of WesternOne Equity GP, taking into account the relevant circumstances prevailing at the time of a distribution. Maintaining these amounts of working capital may adversely affect the amounts that might otherwise be available for distribution to unit holders.

Trust Units

On June 1, 2007 the Fund approved an 11.1% increase in the cash distribution, from $0.045 to $0.05 per trust unit effective July 1, 2007 (equivalent to $0.60 per trust unit on an annualized basis). Distributions are paid on or about the 15th day following the end of each month to unit holders of record on the last business day of the preceding month.

The Fund may make additional distributions in excess of the regular monthly distributions made during a year.

Trust Unit Distributions (per Unit)

Convertible Unsecured Subordinated Debentures (the "Unsecured Debentures")

The Unsecured Debentures (TSXV - WEQ.DB.B) were issued on February 26, 2010 and bear interest at an annual rate of 8.5%, payable semi-annually in arrears on June 30 and December 31 of each year. The Debentures mature in December 2015 and are convertible into trust units at $5.25.

Extendible Convertible Unsecured Subordinated Debenutres

The Series C Debentures (TSXV - WEQ.DB.C) were issued in June 2011 and bear interest at an annual rate of 8% per annum payable semi-annually in arrears on June 30 and December 31 of each year. The Debentures mature in December 2018 and are convertible into trust units at $7.50.

Senior Secured Convertible Debentures - Series A (the "Series A Debentures")

The Series A Debentures (TSXV - WEQ.DB) were issued in conjunction with the WesternOne IPO, and were redeemed in full on June 17, 2011.