We are satisfied that the amended offer constitutes full and fair value for the company.

After considering several offers for the company, (the board) has unanimously endorsed and is recommending that shareholders tender to the amended offer. We are satisfied the amended offer constitutes full and fair value for the company.

Hudson's Bay board has carefully considered the recommendation by its special committee and advisors, and unanimously recommends that security holders reject the offers.

There's a certain percentage above fair market value that we can offer someone for their property. If they don't like the offer, eminent domain may be the only other option. We frown on the idea of eminent domain, and we've never abused it, but having it in our back pocket brings people to the bargaining table.

I commend Selectman McAuliffe and offer full support.

We intend to grow the value of our brand as we evolve the company.