Document:

CPVC Tremblant Inc.
                         c/o Suite 3100, Home Oil Tower
                              324 - 8th Avenue S.W.
                               Calgary, AB T2P 2Z2

April 15, 2005

Loretta Food Group Inc.
2405 Lucknow Drive
Mississauga, ON  L5S 1H9

Attention:        Mr. Al Burgio,
                  President and CEO

- and to -

the  shareholders  of Loretta Food Group Inc. listed on Schedule "G" hereto (the
"LFG Insider Shareholders")

Dear Sirs:

Re:      Acquisition of All of the Issued and Outstanding Shares of Loretta Food
         Group Inc.  ("LFG")  and  Certain  Shares of its  Subsidiaries  by CPVC
         Tremblant Inc. ("Tremblant")

Subject  to  and  in  accordance  with  the  terms  and  conditions  hereinafter
contained,  this letter  agreement  is intended to set forth the basic terms and
conditions of the proposed  acquisition (the "Acquisition") of all of the issued
and  outstanding  shares of LFG and certain shares of its  subsidiaries,  Monaco
(Canada) Inc. ("Monaco") and MG Holdings Inc. ("MGH"), not owned by LFG, as well
as the financing of LFG. We propose that the  Acquisition  and  financing  would
proceed as follows:

1.   LFG currently has 6,612,500  common shares (the "LFG Common Shares") issued
     and outstanding, including 600,000 LFG Common Shares which are pledged (the
     "LFG Pledged  Shares"),  and no stock options,  warrants,  anti-dilution or
     other rights to purchase LFG Common  Shares  issued or  outstanding,  other
     than 930,000  stock  options as described  further in Schedule "A" attached
     hereto (the "LFG Options").

     LFG owns all of the  issued  and  outstanding  shares  of MGH,  other  than
     750,000 exchangeable shares of MGH (the "MGH Exchangeable  Shares"),  which
     shares are owned as indicated on Schedule "B" hereto.

     LFG owns all of the issued  and  outstanding  shares of Monaco,  other than
     10,000,000 class A preference shares (the "Monaco Preference Shares") owned
     as indicated on Schedule "B" hereto.

2.   The parties agree that LFG will engage Dundee  Securities  Corporation,  on
     behalf  of  a   syndicate   of  agents  to  include   Raymond   James  Ltd.
     (collectively,  the "Agents") to act as agents of LFG in connection  with a
     private  placement  of a minimum of 5,555,400  and a maximum of  11,111,100
     subscription  receipts of LFG (the "LFG Subscription  Receipts") at a price
     of $0.27 per  subscription  receipt  for  gross  proceeds  of a minimum  of
     approximately  $1,500,000 and a maximum of  approximately  $3,000,000  (the
     "LFG Private  Placement"),  to be completed in one or more  closings.  Each
     three LFG Subscription  Receipts will entitle the holder to receive, for no
     additional  consideration,  one LFG Common Share  (subject to adjustment in
     certain  circumstances) as follows:  (i) automatically  concurrent with the
     closing of the  Acquisition  such that each holder will  receive LFG Common
     Shares that will be exchanged  pursuant to the  Acquisition  into Tremblant
     Common  Shares (as defined  below);  or (ii) upon the closing of some other
     business  combination  or alternative  going public event (an  "Alternative
     Arrangement").  In the event the Acquisition or Alternative Arrangement has
     not closed prior to the six month anniversary of the closing of the Loretta
     Private  Placement,  the  purchasers of the Loretta  Subscription  Receipts
     shall be  entitled  to a refund of their  purchase  price  for the  Loretta
     Subscription  Receipts.  A commission  of 8% will be paid to the Agents and
     the Agents will be granted agents'  options (the "LFG Agents'  Options") to
     purchase 10% of the number of LFG Common  Shares  issuable upon exercise of
     the LFG Subscription Receipts issued pursuant to the LFG Private Placement,
     at a price of $0.81  per share  for a period  of 18  months  following  the
     issuance thereof.

<PAGE>

     LFG and Tremblant agree that the proceeds of the LFG Private Placement will
     be used for working  capital  according  to a budget of LFG to be in a form
     mutually agreed to by the parties hereto (the "LFG Budget").

     After  completion  of the  maximum  LFG  Private  Placement  (assuming  the
     exercise of the LFG  Subscription  Receipts),  LFG will have 10,316,200 LFG
     Common  Shares,   370,370  LFG  Agents'   Options,   and  the  LFG  Options
     outstanding.

3.   LFG represents and warrants to Tremblant as follows:

     (a) LFG is duly  incorporated  and is validly  subsisting under the laws of
     the State of Delaware;

     (b) LFG shall have no subsidiaries  except for the  corporations as set out
     in  Schedule  "B"  attached  hereto  (the  "Subsidiaries"),  that  shall be
     directly or  indirectly  owned by LFG,  other than as indicated on Schedule
     "B" hereto;

     (c) other than the LFG Agents' Options and the LFG Options,  LFG shall have
     outstanding no agreement, option, understanding,  warrant, call, conversion
     right, commitment or any right or privilege of any kind which obligates LFG
     to allot or issue any shares of LFG;

     (d) LFG will have  10,316,200  Common Shares issued and  outstanding  after
     completion  of the maximum LFG  Private  Placement,  and all of such shares
     will be validly  issued and  outstanding  as fully paid and  non-assessable
     shares of LFG;

     (e) the consolidated  unaudited financial  statements of LFG for the period
     ended  September  30, 2004 were true and correct as at the date thereof and
     were prepared in accordance  with Canadian  generally  accepted  accounting
     principles consistently applied;

     (f) except as set out in Schedule "C" attached  hereto,  none of LFG or its
     Subsidiaries are parties to any employment  agreements with any officers or
     employees  of LFG or its  Subsidiaries,  as  applicable,  requiring  annual
     compensation in excess of $75,000;

     (g) the  assets of LFG and its  Subsidiaries  are free and clear of any and
     all   liabilities  or   encumbrances,   except  for  the   liabilities  and
     encumbrances  as set out in Schedule  "D" attached  hereto (the  "Permitted
     Encumbrances");

     (h) LFG and its  Subsidiaries  own  those  intellectual  property,  rights,
     patents and  trademarks as described on Schedule "E" hereto  (collectively,
     the "LFG Intellectual  Property"),  which LFG Intellectual Property is free
     and  clear  of any and all  liabilities  or  encumbrances,  except  for the
     Permitted Encumbrances;

<PAGE>

     (i) the LFG Budget will be an annual budget for LFG showing all anticipated
     required expenditures of LFG for the 2005 fiscal year; and

     (j) except as set out in Schedule "F" attached hereto,  there is no action,
     suit, litigation, arbitration,  investigation,  inquiry or other proceeding
     in  progress,  or, to the best of LFG's  knowledge,  pending or  threatened
     against  or  relating  to LFG,  the  Subsidiaries  or the LFG  Intellectual
     Property,  or LFG's other material  assets,  and there is no  circumstance,
     matter or thing known to LFG which  might give rise to any such  proceeding
     or to any governmental  investigation and there is not outstanding  against
     LFG, the Subsidiaries or in respect of the LFG Intellectual  Property,  any
     judgment,  decree,  injunction,  rule or  order  of any  court,  government
     department, commission, agency or arbitrator.

4.   Tremblant  is a capital  pool company  that  completed  its initial  public
     offering on August 30, 2004. The common shares of Tremblant (the "Tremblant
     Common  Shares")  are  listed  on  the  TSX  Venture  Exchange  Inc.  ("TSX
     Venture").  Tremblant currently has outstanding  9,700,000 Tremblant Common
     Shares and stock options to acquire  970,000  Tremblant  Common Shares at a
     price of $0.25 per share  (the  "Tremblant  Stock  Options")  until May 31,
     2009.  Tremblant also has  outstanding  agent's  options to acquire 300,000
     Tremblant  Common  Shares  at a price of $0.25 per  share  (the  "Tremblant
     Agent's Options") until February 28, 2006.

5.   Tremblant represents and warrants as follows:

     (a) Tremblant is duly incorporated and is validly subsisting under the laws
     of Alberta, and is authorized to issue an unlimited number of common shares
     and an unlimited number of preferred shares issuable in series;

     (b) Tremblant has no subsidiaries;

     (c) Tremblant is in material  compliance  with all of its  obligations as a
     reporting  issuer  in the  jurisdictions  where it is a  reporting  issuer,
     including  those  imposed  pursuant  to  securities  legislation,  and  the
     regulations and policies thereunder;

     (d)  Tremblant  is in material  compliance  with all of the policies of TSX
     Venture;

     (e) Tremblant  currently has 9,700,000  Tremblant  Common Shares issued and
     outstanding  and all of such shares are validly  issued and  outstanding as
     fully paid and non-assessable shares of Tremblant;

     (f) other  than the  Tremblant  Stock  Options  and the  Tremblant  Agent's
     Options,  Tremblant has  outstanding no agreement,  option,  understanding,
     warrant,  call,  conversion right,  commitment or any right or privilege of
     any kind  which  obligates  Tremblant  to allot or issue  Tremblant  Common
     Shares;

     (g) Tremblant is not a party to any employment agreements with any officers
     or employees of Tremblant;

     (h)  the  unaudited  financial  statements  for  the  third  quarter  ended
     September 30,  2004,  were true and correct as at the date thereof and were
     prepared  in  accordance  with  generally  accepted  accounting  principles
     consistently applied;

<PAGE>

     (i) as at February 28, 2005,  Tremblant had cash assets net of  liabilities
     of in excess of approximately $1,700,000; and

     (j)  there is no  action,  suit,  litigation,  arbitration,  investigation,
     inquiry or other  proceeding  in progress,  or, to the best of  Tremblant's
     knowledge,  pending or  threatened  against or relating to Tremblant or its
     material  assets  and there is no  circumstance,  matter or thing  known to
     Tremblant  which  might  give  rise  to  any  such  proceeding  or  to  any
     governmental  investigation and there is not outstanding  against Tremblant
     any judgment,  decree,  injunction,  rule or order of any court, government
     department, commission, agency or arbitrator.

6.   Tremblant will acquire all of the issued and outstanding  shares of LFG, as
     well as the  Monaco  Preferred  Shares  and the  MGH  Exchangeable  Shares,
     pursuant  to  a  plan  of  arrangement  or  such  other  structure,  to  be
     determined.  Pursuant to the terms of the  Acquisition:  (i) the holders of
     the LFG Common  Shares will receive  three  Tremblant  Common Shares with a
     deemed  value of $0.27  per share for each LFG  Common  Share  owned for an
     aggregate  (assuming  completion  of the maximum LFG Private  Placement) of
     30,948,600   Tremblant   Common  Shares;   (ii)  the  holders  of  the  MGH
     Exchangeable Shares will receive an aggregate of 4,500,000 Tremblant Common
     Shares  with a deemed  value of $0.27 per share;  (iii) the  holders of the
     Monaco Preferred  Shares will receive an aggregate of 50,000,000  Tremblant
     Common Shares with a deemed value of $0.27 per share;  and (iv) the holders
     of the Tremblant  Common  Shares will continue to own the Tremblant  Common
     Shares owned by them.  The LFG Agents'  Options will be replaced with stock
     options of Tremblant with identical terms. Of the 930,000 LFG Options,  the
     350,000 held by MB Monroe  Properties  Inc. will be cancelled and exchanged
     for two year share  purchase  warrants of Tremblant the number and terms of
     which shall be acceptable to LFG and Tremblant (the "Tremblant  Warrants').
     The balance of the 580,000 LFG Options shall be replaced with stock options
     of Tremblant to acquire 1,740,000 Tremblant Common Shares at a price of not
     less than $0.40 per share as set out in Schedule "A" hereto.

7.   Tremblant and LFG covenant that there are no finder's fees or other similar
     fees payable to any person or party with respect to the Acquisition.

8.   The LFG Insider Shareholders  acknowledge that TSX Venture may require some
     or all of the Tremblant Common Shares issued pursuant to paragraph 6 hereof
     to be held in  escrow  pursuant  to the  requirements  of TSX  Venture.  In
     addition,  LFG  and the  LFG  Insider  Shareholders  acknowledge  that  the
     Tremblant  Common  Shares  issued  pursuant to paragraph 6 hereof are being
     issued pursuant to exemptions  from  prospectus  requirements of applicable
     securities legislation, and may be subject to resale restrictions. Further,
     the parties acknowledge and agree all Tremblant Common Shares issued to the
     LFG Insider  Shareholders,  will be subject to a contractual legend for one
     year from the Closing Date (the "Contractual Legend").

<PAGE>

9.   LFG acknowledges that Tremblant is a capital pool company and is subject to
     Policy 2.4 of the TSX Venture Corporate Finance Manual (the "Policy"),  and
     that the Acquisition is intended to constitute a "Qualifying  Transaction",
     as that term is  defined  in the  Policy.  Upon  execution  of this  letter
     agreement,  the Policy requires  Tremblant to retain a sponsor to provide a
     sponsorship  report to TSX  Venture  in  respect  of the  Acquisition  (the
     "Sponsor").   The  Sponsor   needs  to  prepare  and  file  a   sponsorship
     acknowledgement  form with TSX Venture  immediately after execution of this
     letter  agreement and the Sponsor will be paid a sponsorship fee to be paid
     by  Tremblant.  Prior  to the  completion  of a  "Qualifying  Transaction",
     Tremblant  must  submit for  review to TSX  Venture a filing  statement  or
     information  circular which must contain full, true and plain disclosure of
     all  material  facts  relating  to  particular  matters to be acted upon by
     shareholders,  including  the  Acquisition  (the  "Information  Circular").
     Tremblant  must  then  mail the  Information  Circular  and  related  proxy
     material to its shareholders.  Tremblant will be required to include in its
     Information  Circular  prospectus-level  disclosure on LFG,  including such
     audited and  unaudited  consolidated  financial  statements  of LFG and the
     Subsidiaries as may be required by TSX Venture.  LFG agrees to use its best
     efforts to make available to Tremblant  prospectus  level  disclosure  with
     respect to LFG, including such financial  statements,  and, after review of
     the  Information  Circular,  agrees to certify that the  information in the
     Information  Circular with respect to LFG constitutes  full, true and plain
     disclosure.

10.  Tremblant,  LFG and the LFG Insider Shareholders  covenant and agree to use
     their best  efforts to  negotiate  in good  faith a formal  share  exchange
     agreement (the "Formal Agreement") by May 16, 2005, such agreement to be in
     form and substance satisfactory to the parties,  including  representations
     and  warranties  from the LFG Insider  Shareholders  and the other  parties
     customary in transactions of this nature.  Concurrent with the execution of
     the Formal  Agreement,  Tremblant and the  shareholders  of LFG holding not
     less the 91% of the  outstanding  LFG Common Shares (prior to completion of
     the LFG private placement), 100% of the MGH Exchangeable Shares and 100% of
     the Monaco  Preference  Shares  shall  enter  into  share  exchange/lock-up
     agreements in form satisfactory to Tremblant (the "Lock-up Agreements").

11.  LFG agrees that the  Information  Circular  will be drafted and prepared by
     Burstall Winger LLP, and all discussions  with TSX Venture shall be handled
     by Burstall  Winger LLP, which shall act as counsel to Tremblant in respect
     of the Acquisition. Legal counsel to LFG shall assist in preparation of the
     section of the Information  Circular describing LFG and shall represent LFG
     in connection  with the  negotiation  of the Formal  Agreement,  as well as
     generally in respect of the Acquisition.

12.  The  parties  agree  the  date  of  closing  (the  "Closing  Date")  of the
     Acquisition  (the  "Closing")  will occur within seven (7) business days of
     the receipt of the  shareholder  approval of each of Tremblant  and LFG for
     the  Acquisition,  as required  under  corporate  law, and in any event not
     later than September 30, 2005.

13.  On or before the Closing Date, Tremblant will require certain key personnel
     of LFG,  including Al Burgio and other personnel mutually agreed by LFG and
     Tremblant,  to enter into three year  employment  agreements  with LFG (the
     "Employment  Agreements") to be in a form satisfactory to Tremblant and the
     parties thereto. The intent of the Employment  Agreements is to require the
     employees  to  direct  all  of  their  business  time,  efforts,   business
     opportunities and growth ideas to LFG.

14.  On or before the  Closing  Date,  Tremblant  will  require  the LFG Insider
     Shareholders,  except for Joel  Sebastian,  William  Fatica,  Leo  Couprie,
     William  Rancic and Gerry Quinn,  to enter into three year  non-competition
     and  confidentiality   agreements  with  Tremblant  (the   "Non-Competition
     Agreements"),  pursuant  to which  they  will  agree  not to  compete  with
     Tremblant or LFG for a period of three years, such agreements to be in form
     satisfactory to the parties thereto and Tremblant.

15.  The parties agree each party shall pay for their costs incurred pursuant to
     the  Acquisition and the other  transactions  contemplated  herein,  if the
     transactions contemplated herein are not completed.

16.  For the purposes of allowing  Tremblant  and LFG to review the business and
     affairs of each other so as to enable each other to  determine if there are
     any facts relating to which, if known to the other party, would cause it to
     elect to not proceed with the Acquisition,  LFG and Tremblant hereby permit
     each other and their auditors and agents to conduct, upon execution hereof,
     up to and  including  the Closing Date,  such  investigations  of financial
     conditions, contractual obligations, business affairs and corporate affairs
     as each party may deem reasonably necessary or advisable in order to ensure
     that each of the representations, warranties, covenants and agreements that
     are required by each party are true and accurate.

<PAGE>

17.  The parties  acknowledge that at the  shareholders  meeting of Tremblant to
     approve the  Acquisition,  a board of eight  directors  of  Tremblant  (the
     "Tremblant  Board") will be nominated and shall  consist of Al Burgio,  Leo
     Couprie, William Fatica, Gerry Quinn, William Rancic, Joel Sebastian, Alain
     Lambert  and William  Hess,  provided  TSX Venture  does not object to such
     nominations  and such persons are eligible to act as directors  pursuant to
     the  requirements  of applicable  corporate  law.  After the closing of the
     Acquisition,  the officers of Tremblant  will be appointed by the Tremblant
     Board.

18.  Upon execution of this letter agreement, Tremblant shall reserve additional
     Tremblant  Common  Shares in order to grant stock options to purchase up to
     10% of the  outstanding  Tremblant  Common  Shares,  less the number of LFG
     Options,  (the "New  Options"),  subject to  shareholder  approval  and the
     approval  of TSX  Venture,  upon the  completion  of the  Acquisition.  The
     parties  agree the New  Options  may be  granted  to  directors,  officers,
     employees  and  consultants  of  Tremblant,  as determined by the Tremblant
     Board  following the  completion of the  Acquisition at the market price at
     the time of grant.  In the event the  Tremblant  Board desires to grant New
     Options  with an exercise  price less than the market  price at the time of
     grant, such grant shall be approved unanimously by the Tremblant Board. LFG
     acknowledges and agrees that the stock option agreements to be entered into
     granting the New Options will include  vesting  provisions as determined by
     the Tremblant Board.

19.  In order to facilitate the Acquisition,  Tremblant agrees to continue under
     the laws of Canada,  subject to shareholder  and  regulatory  approval (the
     "Continuance").  Tremblant  and LFG also agree  Tremblant  shall change its
     name as determined by LFG,  subject to shareholder and regulatory  approval
     (the  "Change of Name").  Tremblant  will also  change its  auditors to the
     auditors of LFG, or such other  auditing firm as may be mutually  agreed by
     the  parties  hereto,  subject to  shareholder  approval  of such change of
     auditors.   Further,  Tremblant  shall  following  the  completion  of  the
     Acquisition  and  subject to the  receipt  of  shareholder  and  regulatory
     approval,  complete a consolidation  of the Tremblant  Common Shares on the
     basis of one new common share of Tremblant for each five existing Tremblant
     Common Shares (the "Consolidation"). All references to common shares, stock
     options,  agents  options  and  warrants of  Tremblant  herein are prior to
     giving effect to the Consolidation.

20.  The  obligations  of the parties to  consummate  the  Acquisition  shall be
     subject to the fulfilment of the following conditions:

     (a)  compliance  with United  States  Securities  and  Exchange  Commission
     regulation,   and  the  receipt  of  all  necessary   regulatory  approval,
     including,  without limiting the generality of the foregoing,  the approval
     of the Acquisition as a "Qualifying  Transaction"  (as that term is defined
     in the  Policy)  by TSX  Venture  and the  approval  of the  United  States
     Securities  and  Exchange  Commission,  as  well  as  the  approval  of the
     Acquisition,  the Continuance,  the Change of Name and the Consolidation by
     the  shareholders  of Tremblant and the approval of the  Acquisition by the
     shareholders of LFG, all as required under applicable corporate law;

     (b) the latest  available  financial  statements  of Tremblant are true and
     correct  and have been  prepared  in  accordance  with  Canadian  generally
     accepted accounting principles consistently applied;

     (c) the latest available  consolidated  financial statements of LFG and its
     Subsidiaries are true and correct and have been prepared in accordance with
     Canadian generally accepted accounting principles consistently applied;

     (d) there shall be no adverse  material change in the business,  affairs or
     operations of Tremblant between the date of the latest available  financial
     statements and the closing of the Acquisition;

     (e) there shall be no adverse  material change in the business,  affairs or
     operations  of LFG on a  consolidated  basis between the date of the latest
     available financial statements and the closing of the Acquisition;

     (f) the review to the sole satisfaction of LFG of the financial  condition,
     business, properties, title, assets and affairs of Tremblant;

<PAGE>

     (g)  the  review  to  the  sole   satisfaction  of  Tremblant  of  the  LFG
     Intellectual  Property and the financial condition,  business,  properties,
     title, assets and affairs of LFG on a consolidated basis;

     (h) the  approval of the  Acquisition  by the board of directors of each of
     Tremblant and LFG;

     (i) the entering into of the Formal  Agreement and Lock-up  Agreements with
     the holders of 91% of the issued and outstanding LFG Common Shares, 100% of
     the MGH  Exchangeable  Shares and 100% of the Monaco  Preference  Shares in
     such form as is mutually agreeable to the parties, acting reasonably;

     (j) the  Employment  Agreements  shall  have  been  entered  into in a form
     satisfactory to the parties thereto and Tremblant;

     (k) the  Non-Competition  Agreements shall have been entered into in a form
     satisfactory to the parties thereto and Tremblant;

     (l) the TSX Venture escrow  agreement  contemplated  by paragraph 8  hereof
     shall have been  entered  into and the  Contractual  Legend shall have been
     applied to the share  certificates  representing  Tremblant  Common  Shares
     received by all  shareholders of LFG, other than  shareholders  who are not
     LFG Insider  Shareholders  or who acquire  shares upon  exercise of the LFG
     Subscription Receipts;

     (m) the Board of Directors of Tremblant  shall  consist of the directors as
     contemplated by paragraph 17 hereof;

     (n) the LFG Private  Placement  shall have been completed for minimum gross
     proceeds of $1,500,000;

     (o)  Tremblant  shall  not have  undertaken  any  business,  other  than in
     connection  with the completion of the Acquisition and the entering into of
     the Formal Agreement and the Lock-up Agreements; and

     (p)  Tremblant  shall have cash assets net of  liabilities  of no less than
     $1,500,000 on the Closing Date.

     The conditions listed in subparagraphs 20(b), (d), (f), (o) and (p) are for
     the sole benefit of and may be waived only by LFG. The conditions listed in
     subparagraphs  20(c),  (e), (g), (j) and (k) are for the benefit of and may
     be waived by Tremblant.  The balance of the conditions in this paragraph 20
     are for the  benefit  of, and maybe  waived by,  the  parties  hereto as it
     relates to the obligations of the other parties to perform same.

21.  The information  provided by each of Tremblant and LFG, in any form whether
     written,  electronic  or  verbal,  as  to  financial  condition,  business,
     properties, title, assets and affairs (including any material contracts) as
     may  reasonably  be  requested by the other  party,  including  information
     contemplated by paragraph 16, will be kept  confidential by each party (the
     "confidential information"), other than information that:

     (a) has become generally available to the public;

     (b) was available to a party or its  representatives  on a non-confidential
     basis before the date of this letter agreement; or

<PAGE>

     (c)  has  become  available  to  a  party  or  its   representatives  on  a
     non-confidential  basis from a person who is not, to the  knowledge  of the
     party  or  its   representatives,   otherwise   bound  by   confidentiality
     obligations  to the provider of such  information  or otherwise  prohibited
     from transmitting the information to the party or its representatives.

     No  confidential  information  may be released to third parties without the
     consent of the provider thereof,  except that the parties hereto agree that
     they will not  unreasonably  withhold  such consent to the extent that such
     confidential  information  is compelled to be released by legal  process or
     must be released to regulatory bodies and/or included in public documents.

22.  (a) Other than as contemplated  herein,  Tremblant will not,  without prior
     written consent of LFG, prior to the Closing Date:

         (i) issue any equity securities, other than pursuant to the exercise of
         the Tremblant Stock Options or the Tremblant Agent's Options;

         (ii) make any  expenditures,  other  than in  connection  with  ongoing
         public filing  requirements  and the completion of the  Acquisition and
         otherwise in accordance with the policies of TSX Venture;

         (iii) declare or pay any dividends or distribute  any of its properties
         or assets to shareholders;

         (iv)  enter  into any  contracts,  other  than in  connection  with the
         Acquisition;

         (v) alter or amend its articles or by-laws;

         (vi) engage in any business enterprise or other activity different from
         that carried on as of the date hereof;

         (vii) sell, pledge,  lease, dispose of, grant any interest in, encumber
         or agree to sell, pledge,  lease,  dispose of, grant any interest in or
         encumber (or permit any of its  subsidiaries  to sell,  pledge,  lease,
         dispose of, grant any interest in,  encumber or agree to sell,  pledge,
         lease,  dispose  of,  grant any  interest  in or  encumber)  any of its
         assets;

         (viii)  redeem,  purchase  or offer to  purchase  (or permit any of its
         subsidiaries  to  redeem,  purchase  or offer to  purchase)  any of its
         common shares or other securities;

         (ix)  acquire,   directly  or   indirectly,   (or  permit  any  of  its
         subsidiaries to acquire  directly or indirectly) any assets,  including
         but not limited to securities of other companies;

         (x) incur or commit to incur any  indebtedness  for  borrowed  money or
         issue any debt securities; or

         (xi)  approve,  authorize  or  implement  any  change to the  business,
         financial condition or management of Tremblant.

     (b) Other than as contemplated under the Permitted Encumbrances and the LFG
     Private  Placement,  LFG will not,  without  the prior  written  consent of
     Tremblant, prior to the Closing Date:

         (i) issue any equity or debt securities;

         (ii)  incur  any  debt,  except  in the  ordinary  course  of  business
         consistent  with past  practice  or in  connection  with  obtaining  an
         operating line of credit;

         (iii) declare or pay any dividends or distribute  any of its properties
         or assets to shareholders;

         (iv)  enter into any  material  contract,  other  than in the  ordinary
         course of business consistent with past practice;

         (v) alter or amend its articles or by-laws;

         (vi) engage in any business enterprise or other activity different from
         that carried on as of the date hereof;

         (vii) sell, pledge,  lease, dispose of, grant any interest in, encumber
         or agree to sell, pledge,  lease,  dispose of, grant any interest in or
         encumber (or permit any of its  subsidiaries  to sell,  pledge,  lease,
         dispose of, grant any interest in,  encumber or agree to sell,  pledge,
         lease,  dispose of,  grant any  interest in or  encumber)  any material
         portion of its assets;

         (viii)  redeem,  purchase  or offer to  purchase  (or permit any of its
         subsidiaries  to  redeem,  purchase  or offer to  purchase)  any of its
         shares or other securities; or

         (ix) other  than the  Employment  Agreements,  enter into or modify any
         employment,  severance,  collective  bargaining or similar  agreements,
         policies or arrangements with, or grant any bonuses,  salary increases,
         severance  or  termination  pay to, any of its  employees,  officers or
         directors,  other  than  pursuant  to  agreements  in  effect  (without
         amendment) on the date hereof or in the ordinary course of business.

23.  The parties  will advise each other,  in advance,  of any public  statement
     which they propose to make in respect of the Acquisition,  provided that no
     party shall be prevented from making any disclosure which is required to be
     made by law or any rule of a stock  exchange  or  similar  organization  to
     which it is bound. Upon the execution of this letter  agreement,  Tremblant
     will issue a press  release as required by TSX  Venture,  and LFG will file
     the required  disclosure  with the United  States  Securities  and Exchange
     Commission, and each party shall have the ability to review, comment on and
     approve  the  content of such press  release,  public  statement  or public
     disclosure prior to issuance.

24.  Unless  this  letter  agreement  is  terminated  according  to  its  terms,
     Tremblant,  LFG and the LFG Insider Shareholders will not, between the date
     of  acceptance  of this  letter  agreement  by LFG and  the  Closing  Date,
     initiate  or  solicit,  entertain  or vote  their  shares  in favour of any
     expressions  of interest or proposals from any person or take any action to
     facilitate a possible merger, amalgamation,  arrangement, share exchange or
     similar  transaction  involving  the  party  or  any  purchase  of all or a
     significant  portion of the assets of or any equity  interest in the party.
     In addition,  until the Closing Date,  each of  Tremblant,  LFG and the LFG
     Insider Shareholders  covenants and agrees with the other parties hereto to
     use all commercially reasonable efforts to take all actions with the intent
     that the closing  conditions  herein shall be satisfied,  and all covenants
     and agreements herein made by it shall have been performed.

<PAGE>

25.  This letter agreement may be terminated in writing at any time by Tremblant
     or LFG in accordance with the terms contained herein or:

     (a) if the Formal Agreement has not been entered into by May 16, 2005;

     (b) by May 16, 2005 by LFG or Tremblant  upon  providing  written notice to
     the other  party that after  completing  its due  diligence  review in good
     faith, the terminating party is not prepared to complete the Acquisition as
     a result of its due diligence review; or

     (c) on or after September 30, 2005, if Closing has not occurred.

     In the event of  termination  by any of the parties as provided for in this
     paragraph,  this  letter  agreement  shall  become  void and of no  effect,
     without any  liability  or  obligation  on the part of the parties  hereto,
     other  than  paragraphs  15, 16 (as to the  confidentiality  of  previously
     disclosed information), 26 and 27 hereof.

26.  This letter  agreement  shall be  governed  by the laws of the  Province of
     Ontario and the federal laws of Canada applicable therein.

27.  This letter  agreement  constitutes an  enforceable  legal  agreement,  the
     consideration  for  which  shall be the  mutual  covenants  of the  parties
     contained herein.

28.  All references herein to dollars are in Canadian dollars.

If the foregoing correctly sets forth your  understanding,  please indicate your
acceptance  thereof by signing and  returning  the  enclosed  duplicate  of this
letter on or before 5:00 p.m. (Eastern standard time) on April 15, 2005.

This  letter may be signed in  counterparts  which  together  shall be deemed to
constitute one (1) letter  agreement,  and delivery of the  counterparts  may be
effected by means of telecopier from us to you and from you to us.

                                                     Yours truly,

                                                     CPVC TREMBLANT  INC.

                                          Per:  /s/ Alain Lambert
                                          --------------------------
                                                    Alain Lambert,
                                          President and Chief Executive Officer
ACKNOWLEDGED AND AGREED
TO this 15th day of April, 2005.

LORETTA FOOD GROUP INC.

Per:     /s/ Al Burgio
----------------------
             Al Burgio
President
and Chief Executive Officer

- and -

The Loretta  Food Group Inc.  shareholders  executing  this letter  agreement on
Schedule G hereof.

<PAGE>

                                  SCHEDULE "A"

                        OUTSTANDING STOCK OPTIONS OF LFG

<TABLE>
<CAPTION>
<S>                              <C>                         <C>            <C>                <C>            <C>

                                                                                               Proposed
                                                                                               Number of
                                                                                               Replacement      Exercise
                                                            Number of       Exercise Price     Tremblant         Price
     Name                       Position                   LFG Options      of LFG Options      Options     (Pre-Consolidation)
--------------------------     ----------------------      ------------     --------------     ----------   -------------------
Joel Sebastian                  Director                     30,000            US$1.00          90,000          CDN$0.40

William Fatica                  Director                     30,000            US$1.00          90,000          CDN$0.40

Leo Couprie                     Director                     30,000            US$1.00          90,000          CDN$0.40

Gerry Quinn                     Director                     75,000            US$1.50          225,000         CDN$0.40

J. Michael Fish                 Officer of subsidiary        50,000            US$1.00          150,000         CDN$0.60

MB Monroe Properties Inc.       Landlord of subsidiary       350,000           US$1.50            Nil             N/A

                                Former President of
                                Amendt a current
L. Walter Houston               consultant                   350,000           US$4.00         1,050,000        CDN$1.60

                                Plant Manager of
Richard Renaud                  subsidiary                   15,000            US$1.50          45,000          CDN$0.60
                                                         -------------                       -----------
                                Total                        930,000                           1,740,000

</TABLE>

<PAGE>

                                                   SCHEDULE "B"

                      LFG DIRECT AND INDIRECT SUBSIDIARIES

              Loretta Food Group Inc. (formerly Monaco Group Inc.)
                                   (Delaware)
                  Auth: 15,000,000 common; 4,000,000 preference
   Issued: 5,132,000 common (6,007,500 to be outstanding at the closing of QT)

<TABLE>
<CAPTION>
<S>                                              <C>                                        <C>

Monaco (Canada) Inc.                          Bayshore Foods Inc.                                         MG Holdings Inc.
 (Ontario)                                      (Ontario)                                                   (Ontario)
Auth: unlimited common; unlimited class       Auth:  unlimited common; unlimited class       Auth:  unlimited common; unlimited
A preference                                  A,B and C                                      Exchangeable
Issued: 100 common;                           Issued: 200 common                             Issued:100 common; 750,000 exchangeable
10,000,000 class A preference                                                                at option of MG Holdings Inc. at 2fo 1
retractable by holder at Cdn$1 per                                                           into LFG common shares (owned by
share (3,000,000 owned by Burgio                                                             1505262 Ontario Inc.
Family Holdings Inc.; 7,000,000
owned by ALBAR Capital Corp.)

LF Acquisition Corp.            LF Brands Inc.            LF Licenses Products Inc.       Sweet Valley Food Corporation
     (Ontario)                    (Ontario)                  (Delaware)                         (Ontario)
Auth: unlimited common         Auth: unlimited common     Auth: 1,500 common               Auth: unlimited common
Issued: 1000 common            Issued 1,000,000 common    Issued:1,500 common              Issued: 750,000 common

                                                                          Loretta Baking Mix Products Ltd.
                                                                                 (Ontario)
                                                                          Auth: unlimited common
                                                                          Issued: 100 common

Loretta Foods Limited                Golden Gate Flour Corporation            Loretta Baking Mix Products Ltd.
     (Ontario)                              (Ontario)                                  (Michigan)
Auth: unlimited common                Auth: unlimited common               Auth:1,500 common; 10,000 class A preference
Issued: 3 common                      Issued: 10,000 common (6,000         Issued: 1,500 common;
                                      Owned by LF Brands Inc.; 4,000       10,000 class A preference- redeemable by
                                      Owned by 2047810 Ontario Inc)        holder over 10 years at US$100 per share
                                                                           (owned by Monroe Bank & Trust)

</TABLE>

<PAGE>

                                  SCHEDULE "C"

                            LFG EMPLOYMENT AGREEMENTS

LFG is a party to employment  agreements with Tyrone Ganpaul,  John Pannozzo and
J.  Michael  Fish,  and  consulting  agreements  with  William  Moore  and Bruce
Ottewill,

The employment agreement with Tyrone Ganpaul is for an indefinite term, provides
for an annual  salary of $100,000,  annual bonus as  determined  by the Board of
Directors of LFG.

The employment  agreement with John Pannozzo is for an indefinite term, provides
for an annual  salary of $100,000,  annual bonus as  determined  by the Board of
Directors of LFG.

The employment agreement with J. Michael Fish is for an indefinite term, provide
for an annual salary of  US$100,000,  increasing to US$150,000  based on certain
terms and  conditions,  and annual bonus as determined by the Board of Directors
of LFG.

The  management  consulting  agreement  with William  Moore is for an indefinite
term, provides for monthly  compensation in the amount of $15,000, and specified
bonuses of up to $122,500 based on certain performance benchmarks.

The  sales  and  marketing  consulting  agreement  with  Bruce  Ottewill  may be
terminated,  after June 30, 2005,  with 60 days written  notice by either party,
provides for monthly  compensation  based on sugar volumes at rate of $10.00 per
tonne for all Sweet Valley Food Corporation sales and flour volumes at a rate of
$10.00 per tonne only for such Golden Gate Flour  Corporation sales generated by
Bruce Ottewill.

<PAGE>

                                  SCHEDULE "D"

                             PERMITTED ENCUMBRANCES

1. As at January 31, 2005 Couprie, Fenton Inc. was owed approximately $1,026,081
by Loretta  Foods  Limited and  approximately  $1,544,910  by Sweet  Valley Food
Corporation.

2. As at January  31,  2005 PHS Group Inc.  was owed  approximately  $500,000 by
Loretta Foods Limited.

3. As at March 9, 2005 Caithness  Financial Services Ltd. was owed approximately
US$880,000.00 to by Loretta Baking Mix Products Ltd. as a secured bridge loan.

4. LFG has entered into a term sheet with the Royal Bank of Canada to obtain the
following facilities:

         (a)      a $5,000,000 operating line of credit; and
         (b)      a $1,000,000 term lease facility.

5. As at January  31,  2005 Mary Penny was owed  approximately  $250,000  by LFG
pursuant  to a vendor  take  back note in  connection  with the  acquisition  of
Loretta Foods Limited.

6. LFG granted a security interest,  secured by 600,000 LFG Common Shares,  for:
(i) all obligations  owing to MB Monroe  Properties Inc. under a lease agreement
dated  February  25,  2005;  and (ii) all other  obligations  of LFG or  Loretta
Banking Mix Products Ltd. owing to Monroe Properties Inc.

<PAGE>

                                  SCHEDULE "E"

                   DESCRIPTION OF INTELLECTUAL PROPERTY OF LFG

Trademarks:

     (a) "Loretta" - Canadian Trademark and United States Trademark (pending);

     WARES:

         (1) Food seasoning and spices;  canned tomato  products - namely,  plum
         tomatoes,  crushed tomatoes,  tomato paste,  tomato puree and spaghetti
         sauce; canned olives; rice.

         (2) Dried vegetables; canned fish.

         (3) Canned vegetables; canned mushrooms.

         (4) Canned fruit.

         (5) Dried fruits.

         (6) Snack  items - namely,  sunflower  seeds,  pumpkin  seeds,  roasted
         chickpeas,  pistachio nuts,  pine nuts,  peanuts and popping corn; cake
         decorations and edible nuts.

         (7) Food extracts and oils; simulated bacon bits.

         (8) Canned meat.

         (9) Jams and marmalades;  fruit drinks - namely,  peach,  pear, apricot
         and mandarin orange fruit drinks; fruit nectars.

         (10) Grated cheese.

         (11) Croutons; tea.

         (12) Flour, corn meal, semolina.

         (13) Table salt; pickling salt

     (b) "Donna" - Canadian Trademark;

     WARES: Spices; seasonings; tomato paste

     (c) "B.B.Q Plus" - Canadian Trademark;

     WARES: Food seasoning and spices

     (d) "Palm Spices" - Canadian Trademark;

     WARES: Spices; seasonings

     (e) "Sports Nuts" - Canadian Trademark;

     WARES: Edible nuts

     (f) "Original Treasures" Canadian Trademark;

     WARES:  Confections,  namely:  chocolate  covered candy,  jelly beans, jube
     jubes, hard candy,  peanut candy,  assorted flavour candy, soft candy, wine
     gums,  sour candy,  licorice  candy,  sweet candy,  mint candy,  bubble gum
     candy.

<PAGE>

     (g) "Rich'n Moist" - Canadian Trademark - baking mixes;

     (h) "Puddin" - Canadian Trademark - pudding powders;

     (i) "Jelly" - Canadian Trademark - jelly powders;

     (j) "The Ultimate Pie Filling" - Canadian Trademark - pie filling;

     (k) "Rich 'n Fluffy" - Canadian Trademark;

     (l) "1st Prize" - Canadian Trademark - flour;

     (m) "County Fair" - Canadian Trademark - flour;

     (n) "Jimmy Pop Corn" - Canadian Trademark - popcorn,  flavoured popcorn and
     caramel corn;

     (o) "Amigos" - Canadian Trademark - nachos,  tortilla chips, tacos, popcorn
     and salsa;

     (p) "Amigos" - United States  Trademark - nachos,  tortilla  chips,  tacos,
     processed popcorn and salsa;

     (q) "Sweet  Source" - Canadian  Trademark - sugar,  sweeteners and candies;
     and

     (r) "Sweet Valley" - Canadian Trademark  (pending) - sugar,  sweeteners and
     candies.

     Trade Names:

     (a) Loretta Foods;

     (b) Donna Importing Co.;

     (c) Palm Spices;

     (d) Bayshore Foods

     (e) Amendt Milling Co.; and

     (f) Sweet Valley Foods.

     Licensing Agreements with the following parties:

     (a) NHL Canada Enterprises;

     (b) Molson;

     (c) Labatts;

     (d) Motorhead (NASCAR and John Deere); and

     (e) Cadbury Beverages Canada (Motts).

<PAGE>

                                  SCHEDULE "F"

                            PENDING LITIGATION OF LFG

1. Burgio Family  Holdings  Inc. and Loretta  Foods Limited vs Mary Penny,  John
Penny and Alpen Realty Investments Inc.

2. Market  Leadership Inc. vs Mary Penny, John Penny,  Alpen Realty  Investments
Inc. and Loretta Foods Limited.

3. LF Brands Inc.,  Loretta Foods Limited and Golden Gate Flour  Corporation  vs
Santosh Mahal (not yet filed).

The above  actions have been  further  described to Tremblant in an e-mail dated
March 3, 2005 to William L. Hess, a director of Tremblant.

<PAGE>

                                  SCHEDULE "G"

                            LFG INSIDER SHAREHOLDERS

<TABLE>
<CAPTION>
<S>                                         <C>                                     <C>

          NAME OF SHAREHOLDER               Number and Type of Shares               AUTHORIZED SIGNATURES
----------------------------------         -----------------------------            ---------------------

          Joel Sebastian                    140,000 LFG Common Shares               /s/ Joel Sebastian

          William Fatica                    140,000 LFG Common Shares               /s/ William Fatica

          William (Bill) Rancic             200,000 LFG Common Shares               /s/ Bill Rancic

          Gerry Quinn                       225,000 LFG Common Shares               /s/ Gerry Quinn

          Leo Couprie                       110,000 LFG Common Shares               /s/ Leo Couprie

          William Moore                     295,500 LFG Common Shares               /s/ William Moore

          1505262 Ontario Inc.              750,000 MGH Exchangeable Shares         1505262 Ontario Inc.
          (formerly Sweet Valley Foods Inc.)                                       (formerly Sweet Valley Foods Inc.)

                                                                                   Per: /s/ Leo Couprie

          Burgio Family Holdings Inc.        1,880,000 LFG Common Shares            Burgio Family Holdings Inc.
                                             3,000,000 Monaco Preference Shares

                                                                                    Per: /s/ Al Burgio
                                                                                    ------------------
                                                                                             Al Burgio

          ALBAR Capital Corp.                 7,000,000 Monaco Preference Shares    ALBAR Capital Corp.

                                                                                    Per: /s/ Al Burgio
                                                                                    ------------------
                                                                                             Al Burgio

</TABLE>April 13, 2005

CPVC Tremblant Inc.
c/o Suite 3100, Home Oil Tower
324 - 8th Avenue S.W.
Calgary, AB  T2P 2Z2

Attention:        Alain Lambert,
                  President and Chief Executive Officer

Loretta Food Group Inc.
2405 Lucknow Drive
Mississauga, ON  L5S 1H9

Attention:        Mr. Al Burgio,
                  President and CEO

Re:  Sponsorship  Letter for Proposed  Qualifying  Transaction of CPVC Tremblant
Inc. ("Tremblant") and Loretta Food Group Inc. ("Loretta")

We understand that Tremblant  proposes to proceed with a qualifying  transaction
(the  "Qualifying  Transaction")  involving the acquisition of all of the issued
and outstanding shares of Loretta, followed by a name change and a consolidation
to form a new resulting issuer (the "Resulting Issuer") all pursuant to a Letter
Agreement  among  Loretta,  Tremblant and certain  shareholders  of Loretta (the
"Letter Agreement").

Subject to the terms and conditions hereof, the Sponsor (as hereinafter defined)
agrees to provide to Tremblant for filing with the Exchange a Sponsor Report (as
hereinafter  defined),  if a Sponsor  Report is required by the  Exchange,  with
respect  to the  Qualifying  Transaction.  In  consideration  for  its  services
hereunder,  the Sponsor shall be entitled to the fees and expenses  provided for
in paragraph 6 hereof.

It is our  understanding  that  Loretta will  complete a private  placement of a
minimum of 5,555,400 a maximum of 11,111,100  subscription receipts at the price
of $0.27 per  subscription  receipt for aggregate gross proceeds of a minimum of
$1,500,000  and a  maximum  of  $3,000,000  in  connection  with the  Qualifying
Transaction  (the "Private  Placement").  Concurrent  with  the  closing  of the
Qualifying Transaction (the "Closing"), each three subscription receipts will be
converted into one (1) common share of Loretta which will be exchanged for three
(3) common shares of Tremblant.

1. In this Agreement:

(a) "Acts" means all applicable  securities  legislation  in Ontario,  Manitoba,
Alberta and British  Columbia and the rules and regulations  hereto,  as amended
from time to time;

(b) "Agent" and/or "Sponsor" means Raymond James Ltd.;

<PAGE>

(c) "Agreement"  means this  Transaction  Sponsorship  Letter among the Sponsor,
Tremblant and Loretta;

(d) "Closing Date" means the date of the closing of the  Qualifying  Transaction
to be no later than September 30, 2005, or as otherwise agreed between Tremblant
and Loretta;

(e)  "Control  person",  "insider",   "misrepresentation",   "material  change",
"material fact" and "reporting  issuer" shall have the meanings ascribed thereto
under the Acts;

(f) "Exchange" means the TSX Venture Exchange Inc.;

(g)  "Information"  means with  respect to  Tremblant or as the case may be with
respect to Loretta all  materials,  data and  information,  including the Public
Record,  provided to the Sponsor by Tremblant,  or the insiders of Tremblant, or
as  the  case  may be by  Loretta  or  the  insiders  of  Loretta,  whether  the
information  was  provided  at the  request of the  Sponsor,  or obtained by the
Sponsor from the files of the Exchange or Securities Commissions, or otherwise;

(h) "Loretta"  means Loretta Food Group Inc., a company  incorporated  under the
laws of the  State  of  Delaware  and is a  registrant  with the  United  States
Securities and Exchange Commission;

(i) "Public Record" means any and all information filed on SEDAR;

(j) "Securities Commissions" means the Ontario,  Manitoba,  British Columbia and
Alberta Securities Commissions;

(k) "Sponsor's counsel" means Cassels Brock & Blackwell LLP, or such other legal
counsel as the  Sponsor,  with the  consent of  Tremblant  and/or  Loretta,  may
appoint; and

(l) "Sponsor  Report" means the Sponsor  Report to be provided by the Sponsor as
required by Policy 2.2 of the Exchange,  which Sponsor  Report shall be provided
by the Closing Date.

(m)  "Tremblant"  means CPVC Tremblant Inc., a Canadian public company listed on
the Exchange; and

(n) "Tremblant  counsel" means Burstall  Winger LLP, or such other legal counsel
as Tremblant, with the consent of the Sponsor, may appoint.

2. Tremblant  represents and warrants to the Sponsor,  and acknowledges that the
Sponsor is relying upon such representations and warranties, that:

(a) it has been duly  incorporated  and organized and is validly  existing under
the  laws  of the  jurisdiction  of its  incorporation  and  has  all  requisite
corporate authority and power to carry on its business,  as now conducted and as
presently proposed to be conducted by it, and to own its assets;

(b) the only securities Tremblant is authorized to issue are an unlimited number
of common shares and an unlimited number of preferred shares issuable in series,
of which,  as of the date hereof,  9,700,000  common shares are  outstanding  as
fully paid and non assessable;

<PAGE>

(c) no person has any  agreement,  option,  right or privilege for the purchase,
acquisition,  subscription  for or issue of any of the  securities of Tremblant,
except as disclosed in the Public Record;

(d)  Tremblant  is not in  violation  of any of the  terms of its  articles  and
by-laws or provisions of any agreement to which it is a party;

(e) it is qualified to carry on business under the laws of the  jurisdiction  in
which it carries on its business;

(f) it has full  corporate  power and authority to enter into this Agreement and
to perform its  obligations as set out herein,  and this Agreement has been duly
authorized,  executed and delivered by Tremblant, and this Agreement is a legal,
valid and binding obligation of Tremblant,  enforceable against it in accordance
with its terms  subject to laws  relating to  creditors  rights  generally,  the
availability  of  equitable  remedies  and  except as rights  to  indemnity  and
contribution may be limited by applicable law;

(g)  except as has been  disclosed  to the  Sponsor in writing or set out in the
Information,  there has not been any material change in the assets,  liabilities
or  obligations  (absolute,  accrued,  contingent or otherwise) of Tremblant and
there has not been any material change in the business,  operations or condition
(financial or otherwise)  or results of the  operations of Tremblant,  and there
has  been no  material  fact,  transaction,  event  or  occurrence  which  could
materially adversely affect the business of Tremblant since the date of its most
recent financial statements filed on SEDAR;

(h) the financial  statements  included in the Information  fairly  present,  in
accordance  with  generally  accepted  accounting   principles  in  Canada,  the
financial  position and  condition of Tremblant at the dates thereof and reflect
all  material  liabilities  (absolute,  accrued,  contingent  or  otherwise)  of
Tremblant;

(i)  there  are no  actions,  suits,  proceedings  or  inquiries  pending  or to
Tremblant's  knowledge,  threatened against or affecting  Tremblant at law or in
equity or before or by any federal, provincial,  municipal or other governmental
department,  commission,  board, bureau,  agency or instrumentality which in any
way materially  adversely affect, or may in any way materially adversely affect,
the business,  operations or condition  (financial or otherwise) of Tremblant or
its assets;

(j) the  Information  is true,  correct,  and  complete and does not contain any
misrepresentation or material omission, as of the date of such Information;

(k) other  than the  Qualifying  Transaction  with  Loretta,  Tremblant  has not
approved,  is not contemplating and has not entered into any material  agreement
in respect of the  purchase  or  disposition  of any  property  or the change of
control of Tremblant;

(l)  the  Securities  Commissions  have  not  issued  any  order  preventing  or
suspending trading in securities of Tremblant and Tremblant is not in default of
any requirement of the Act, the regulations thereto or any rule or by-law of the
Exchange,  or any other similar  applicable  legislation or authority in Canada,
except as disclosed  in writing to the Sponsor or contained in the  Information;
and

<PAGE>

(m) the  representations  and  warranties  of Tremblant  contained in the Letter
Agreement are true and correct and such  representations  and  warranties  shall
form part of this Agreement for the benefit of the Sponsor.

3. Loretta  represents and warrants to the Sponsor,  and  acknowledges  that the
Sponsor is relying upon such representations and warranties, that:

(a) it has been duly  incorporated  and organized and is validly  existing under
the  laws  of the  jurisdiction  of its  incorporation  and  has  all  requisite
corporate authority and power to carry on its business,  as now conducted and as
presently proposed to be conducted by it, and to own its assets;

(b)  there  are  currently   6,612,500  common  shares  of  Loretta  issued  and
outstanding as fully paid and non assessable shares;

(c) no person has any  agreement,  option,  right or privilege for the purchase,
acquisition,  subscription  for or issue of any of the  securities  of  Loretta,
other than 930,000 stock options with varied exercise prices;

(d) Loretta is not in  violation  of any of the terms of its articles or by-laws
or provisions of any agreement to which it is a party;

(e) Loretta is qualified to carry on business under the laws of the jurisdiction
in which it carries on its business and is the absolute owner and has good title
to all of its material properties and assets;

(f) Loretta has full corporate  power and authority to enter into this Agreement
and to perform its  obligations  as set out herein,  and this Agreement has been
duly  authorized,  executed and  delivered by Loretta,  and this  Agreement is a
legal,  valid and  binding  obligation  of  Loretta,  enforceable  against it in
accordance  with  its  terms  subject  to  laws  relating  to  creditors  rights
generally,  the  availability  of  equitable  remedies  and  except as rights to
indemnity and contribution may be limited by applicable law;

(g)  except as has been  disclosed  to the  Sponsor in writing or set out in the
Information,  there has not been any material change in the assets,  liabilities
or obligations (absolute, accrued, contingent or otherwise) of Loretta and there
has not been any  material  change  in the  business,  operations  or  condition
(financial or otherwise) or results of the operations of Loretta,  and there has
been no material fact,  transaction,  event or occurrence which could materially
adversely  affect the business of Loretta  since the date of the last  financial
statements provided to the Sponsor by Loretta;

(h) the financial  statements  included in the Information  fairly  present,  in
accordance with generally accepted  accounting  principles in the United States,
the financial position and condition of Loretta at the dates thereof and reflect
all  material  liabilities  (absolute,  accrued,  contingent  or  otherwise)  of
Loretta;

(i) except as disclosed in the Letter  Agreement,  there are no actions,  suits,
proceedings or inquiries pending or to Loretta's  knowledge,  threatened against
or  affecting  Loretta  at  law  or in  equity  or  before  or by  any  federal,
provincial,  municipal  or other  governmental  department,  commission,  board,
bureau,  agency or instrumentality which in any way materially adversely affect,
or may in any way  materially  adversely  affect,  the  business,  operations or
condition (financial or otherwise) of Loretta, or its assets;

<PAGE>

(j) Loretta has filed in a timely  manner all  necessary tax returns and notices
and have paid all  applicable  taxes of  whatsoever  nature for all tax  periods
prior to the date hereof;

(k) the  Information  is true,  correct,  and  complete and does not contain any
misrepresentation or material omission, as of the date of such Information;

(l) except as disclosed in the  Information  or to the Sponsor,  Loretta has not
approved,  is not contemplating and has not entered into any material  agreement
in respect of the  purchase  or  disposition  of any  property  or the change of
control of Loretta; and

(m) the  representations  and  warranties  of  Loretta  contained  in the Letter
Agreement are true and correct and such  representations  and  warranties  shall
form part of this Agreement for the benefit of the Sponsor.

4. Tremblant and Loretta agree that:

(a) they will allow the Sponsor to conduct all due diligence,  including meeting
with senior  management  and  auditors,  which the Sponsor  and/or the Sponsor's
counsel may  reasonably  require in order to fulfill the  Sponsor's  obligations
hereunder,  and they will use their best efforts to require that the insiders of
Tremblant and Loretta cooperate fully with the Sponsor in the conduct of its due
diligence;

(b) they shall  furnish or arrange to furnish to the  Sponsor  and/or  Sponsor's
counsel all materials,  data and  information  relevant to the Sponsor's  duties
hereunder  and  any  other  materials,  data  or  information  the  Sponsor  may
reasonably request;

(c) the  Sponsor  shall be under  no  obligation  to  independently  verify  the
accuracy or  completeness of the Information and shall be entitled to assume the
accuracy and completeness thereof;

(d)  Tremblant  and Loretta  undertake to file or cause to be filed all forms or
undertakings  required to be filed with the Exchange and Securities  Commissions
with respect to the Qualifying Transaction; and

(e) during  the term of this  Agreement,  Tremblant  and  Loretta  will keep the
Sponsor and the Sponsor's  counsel fully informed of all relevant  matters which
could have a material  effect on the  services  provided  hereunder,  including,
without  limiting the  generality  of the  foregoing,  a material  change in the
affairs of Tremblant or Loretta,  or a change to or an inaccuracy or omission in
the Information.

5. The  obligations  of the  Sponsor  hereunder  shall be  conditional  upon the
Sponsor receiving on or prior to the Closing Date:

(a) a confirmation  acceptable to the Sponsor acting reasonably that all actions
required to be taken by or on behalf of Tremblant and Loretta including, without
limitation,  the passing of all  resolutions of the directors and  shareholders,
shall have occurred in order to complete the Qualifying Transaction;

<PAGE>

(b) the certificate of Tremblant and Loretta dated as of the date of the Sponsor
Report,  and addressed to the Sponsor and signed by the respective  President or
such other officers or directors satisfactory to the Sponsor, acting reasonably,
certifying that:

     (i)  Tremblant  and  Loretta,  as the case may be, have  complied  with and
     satisfied all material terms and conditions of this Agreement on their part
     to be complied with or satisfied;

     (ii) the  representations  and warranties of Tremblant and Loretta,  as the
     case may be,  set  forth in this  Agreement  are  true and  correct  in all
     material  respects as at the date of the Sponsor Report, as if made at such
     time;

     (iii) no event of a nature referred to in paragraph 4(e) has occurred or to
     the knowledge of such officer is pending, contemplated or threatened; and

     (iv) Tremblant's and Loretta's directors,  officers, employees and insiders
     are aware of,  appreciate the nature of the  responsibilities  they will be
     undertaking  with respect to the listing on the Exchange and  obtaining the
     status of reporting  issuer under the Acts,  including  insider trading and
     control person rules set out in the Acts;

(c) such further document(s) as the Sponsor may reasonably require; and

(d) payment of the fees provided for in paragraph 6 hereof, less the Deposit (as
hereinafter defined).

6. In consideration for its services  hereunder,  Tremblant agrees to pay to the
Sponsor:

(a) whether or not a Sponsor  Report is required by the  Exchange a fee equal to
$35,000,  plus applicable  taxes, of which the first half will be payable at the
signing of this Agreement (the  "Deposit"),  and the second half will be payable
on the earlier of (i) closing of the Qualifying  Transaction;  and (ii) the date
of filing of the final Sponsor Report with the Exchange; and

(b) the legal fees incurred by Sponsor's  counsel  pursuant  hereto subject to a
maximum of $10,000,  unless otherwise agreed in writing, of which $5,000 will be
payable on the date it is  determined  that a Sponsor  Report is required  (plus
applicable taxes) and $5,000 (plus applicable taxes) will be paid on the Closing
Date.

7. Whether or not the matters contemplated herein shall be completed,  all costs
and  expenses  provided in  paragraph 6 hereabove  shall be borne by  Tremblant,
including,  without  limiting the  generality of the  foregoing,  the reasonable
expenses and  out-of-pocket  costs of the Sponsor to a maximum of $5,000 without
the  prior  written  consent  of  Tremblant  and the  fees and  expenses  of the
Sponsor's counsel as provided in paragraph 6 (b).

8. The  Sponsor  may waive in whole or in part any breach of,  default  under or
non-compliance with any representation,  warranty,  term or condition hereof, or
extend the time for compliance therewith, without prejudice to any of its rights
in respect of any other  representation,  warranty,  term or condition hereof or
any  other  breach  of,  default  under  or  representation,  warranty,  term or
condition hereof, provided that any such waiver or extension shall be binding on
the Sponsor only if the same is in writing.

<PAGE>

9. The Sponsor may terminate its  obligations  hereunder,  by written  notice to
Tremblant and Loretta,  in the event that after the date hereof and prior to the
date of the Sponsor Report:

(a) the Sponsor is not satisfied in its sole discretion, acting reasonably, with
the  results  of the due  diligence  review  and  investigation,  provided  that
Tremblant  or  Loretta  as the case may be,  has  failed to  provide a  response
satisfactory to the Sponsor;

(b) any cease trade order in respect of any  securities of Tremblant is made, or
proceedings  are  announced,  commenced or threatened for the making of any such
order, by any Securities  Commissions,  and has not been  rescinded,  revoked or
withdrawn;

(c) any inquiry,  investigation (whether formal or informal) or other proceeding
in relation to  Tremblant  or any of its  insiders is  announced,  commenced  or
threatened by the Securities Commissions, the Exchange or by any other competent
authority;

(d) there should occur any adverse material  change,  occurrence or event of the
nature referred to in paragraph 4(e); or

(e) Tremblant or Loretta shall be in breach of, default under or  non-compliance
with any material representation, warranty, term or condition of this Agreement.

10. It is understood that all representations, warranties, terms, conditions and
caveats herein or contained in certificates or documents  submitted  pursuant to
or in connection with the transactions  contemplated  herein,  shall survive the
Closing Date and the  termination  of this  Agreement and shall continue in full
force and effect for a period of 12 months for the benefit of any  investigation
by or on behalf of the Sponsor with respect thereto.

11.  Tremblant  shall  indemnify  and hereby  saves the  Sponsor and each of its
directors,  officers,  employees,  partners,  agents,  advisors and shareholders
harmless  against and from all  liabilities,  claims,  demands,  losses,  costs,
damages and expenses to which the Sponsor and/or any of its directors, officers,
employees,  partners,  agents,  advisors  or  shareholders  may suffer or incur,
whether under the provisions of any statute or otherwise,  in any way caused by,
or arising directly or indirectly from or in consequence of:

(a)  the  performance  by  the  Sponsor  of  the  services  rendered  hereunder,
including,  without  limiting the generality of the foregoing,  the providing of
the Sponsor Report;

(b) any  misrepresentation  or  alleged  misrepresentation  or  omission  in the
Information provided by Tremblant;

(c)  any  omission  or  alleged  omission  to  provide  any  materials,  data or
information or state any fact, the omission of which makes or is alleged to make
the  Information  provided by  Tremblant  untrue or  misleading  in light of the
circumstances in which it was made; and

(d) any breach of, default under or  non-compliance by Tremblant or the insiders
of Tremblant with respect to any  representation  or warranty of Tremblant or in
respect of any, term, covenant or condition of this Agreement.

<PAGE>

12.  Loretta shall  indemnify and saves the Sponsor,  and each of its directors,
officers,  employees,  partners,  agents,  advisors  and  shareholders  harmless
against and from all liabilities,  claims,  demands,  losses, costs, damages and
expenses to which the Sponsor and/or any of its directors,  officers, employees,
partners,  agents,  advisors or shareholders may suffer or incur,  whether under
the  provisions  of any statute or  otherwise,  in any way caused by, or arising
directly or indirectly from or in consequence of:

(a)  the  performance  by  the  Sponsor  of  the  services  rendered  hereunder,
including,  without  limiting the generality of the foregoing,  the providing of
the Sponsor Report;

(b)  any  misrepresentation  or  alleged  misrepresentation  in the  Information
provided by Loretta;

(c)  any  omission  or  alleged  omission  to  provide  any  materials,  data or
information or state any fact, the omission of which makes or is alleged to make
the  Information  provided  by  Loretta  untrue  or  misleading  in light of the
circumstances in which it was made; and

(d) any breach of, default under or non-compliance  by Loretta,  or the insiders
of Loretta  with  respect to any  representation  or  warranty  of Loretta or in
respect of any term, covenant or condition of this Agreement.

13. The  indemnities by Tremblant and Loretta shall not apply to the extent that
a court,  or  regulatory  authority,  or  government  commission,  or  competent
jurisdiction  shall  determine  that the  Sponsor  or its  personnel  have  been
negligent or dishonest or have  committed any fault or act or omission  contrary
to applicable law in the course of such performance;  and the cost, loss, claim,
damage or liability,  as to which  indemnification  is claimed,  was directly or
indirectly caused by said negligence, dishonesty, fault or impropriety.

14. If any claim  contemplated  by  paragraphs 11 or 12 hereof shall be asserted
against any of the persons or corporations  in respect of which  indemnification
is or might reasonably be considered to be provided for in such paragraphs, such
person or corporation (the  "Indemnified  Person") shall notify Tremblant and/or
Loretta  (as  applicable)  as soon as  possible  of the nature of such claim and
Tremblant  and/or  Loretta,  as the case  may be,  shall  be  entitled  (but not
required)  to assume the  defense of any suit  brought  to enforce  such  claim,
provided  however,  that the defense shall be through legal counsel  selected by
Tremblant  and/or  Loretta (as  applicable)  and  acceptable to the  Indemnified
Person acting  reasonably and that no settlement may be made by Tremblant and/or
Loretta (as  applicable)  or the  Indemnified  Person  without the prior written
consent  of the  other,  such  consent  not  to be  unreasonably  withheld.  The
Indemnified  Person  shall  have the  right to  retain  its own  counsel  in any
proceeding relating to a claim contemplated by paragraphs 11 or 12 if:

(a) the  Indemnified  Person has been  advised  by  counsel  that there may be a
reasonable legal defense available to the Indemnified  Person which is different
from or  additional  to any defense  available to Tremblant  and/or  Loretta (as
applicable) (in which case Tremblant  and/or Loretta (as  applicable)  shall not
have the right or the  obligation to assume the defense of such  proceedings  on
the Indemnified Person's behalf);

(b) Tremblant and/or Loretta (as applicable) shall not have taken up the defense
of such  proceedings  and  employed  counsel  within  ten days  after  notice of
commencement of such proceedings; or

<PAGE>

(c) the  employment  of such counsel has been  authorized  by  Tremblant  and/or
Loretta (as applicable) in connection with the defense of such proceeding;

and, in any such event,  the  reasonable  fees and expenses of such  Indemnified
Person's counsel shall be paid by Tremblant and/or Loretta, as the case may be.

15. Any notice or other  communication  to be given hereunder shall, in the case
of notice to Tremblant or Loretta be given at their  respective  addresses above
and, in the case of notice to the Sponsor, be addressed to:

                           Raymond James Ltd.
                           5300-40 King Street West
                           Scotia Plaza, P.O. Box 415
                           Toronto, ON  M5H 3Y2
                           Attention:      Mr. Robert G. Boaz,
                                           Managing Director, Investment Banking
                           Telecopier:  (416) 777-7114

Any such  notice  or other  communication  shall be in  writing  and be given by
confirmed facsimile or delivery.

16. If one or more of the provisions of the provisions  contained  herein shall,
for any reason, be held to be invalid,  illegal or unenforceable in any respect,
such invalidity or unenforceability shall not affect any other provision of this
Agreement,  but this Agreement shall be construed as if such invalid, illegal or
unenforceable provision or provisions had never been contained herein.

17. This  Agreement  shall be governed by and construed in  accordance  with the
laws of the  Province  of Ontario and the laws of Canada  applicable  therein in
each case without reference to conflicts of law rules.

18. Time shall be of the essence of this Agreement.

19. This Agreement may be executed in one or more  counterparts each of which so
executed shall constitute an original and all of which together shall constitute
one and the same  agreement.  The  parties  hereto  shall be entitled to rely on
delivery of a facsimile  copy of this Agreement and such facsimile copy shall be
legally effective to create a valid and binding agreement.

20.  Tremblant  and Loretta agree that no public  announcement  or press release
concerning  this  Agreement and any other  instruments  related  hereto,  or the
relationship among Tremblant,  Loretta and the Sponsor shall be made without the
prior  consent of the  Sponsor,  such consent not to be  unreasonably  withheld.
Tremblant and Loretta further agree that no public announcement or press release
of any form or kind  whatsoever  shall be made within 30 days of the date of the
Sponsor Report without the prior consent of the Sponsor,  such consent not to be
unreasonably withheld.

21. It is understood  that the terms and conditions of this Agreement  supersede
any previous verbal or written  agreement  between the Sponsor,  Tremblant,  and
Loretta with respect to the matters herein contained.

22. This  Agreement is not  assignable and shall enure to the benefit of, and be
binding upon the parties  hereto and their  respective  successors and permitted
assigns.

<PAGE>

23. The parties  acknowledge that they have required that this Agreement and all
documents,  notices and  correspondence  relating directly or indirectly to this
Agreement be prepared in English.  Les parties  reconnaissent avoir exige que la
presente  convention et tous les documents,  avis et  correspondance y afferents
directement ou indirectement soient rediges en anglais.

If the foregoing is in accordance  with your  understanding  and is agreed to by
you,  please  confirm your  acceptance  by signing the  enclosed  copies of this
letter at the place indicated and by returning the same to the Sponsor.

RAYMOND JAMES LTD.

Per:     /s/ Robert Boaz
------------------------
         Robert G. Boaz
         Managing Director,
         Investment Banking

ACCEPTED AND AGREED to as of the 15th day of April, 2005.

CPVC TREMBLANT INC.

Per:     /s/ Alain Lambert
--------------------------
         Alain Lambert
         President
         and Chief Executive Officer

ACCEPTED AND AGREED to as of the 15th day of April, 2005.

LORETTA FOOD GROUP INC.

Per:     /s/ Al Burgio
----------------------
         Al Burgio
         President and Chief Executive Officer

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