Lanctôt Licensing Inc., a private company based out of Montreal, Quebec, has made an offer to acquire Igloo Vikski Inc. by way of a takeover bid through the TSX Venture Exchange for all of the issued and outstanding common shares of Igloo at a price of $1.10 per Share for a total purchase price of $3.97 million to be paid in cash. The Board had appointed a special committee of independent directors to review the Offer.

Upon receipt of the special committee's recommendation, which, among other things, states that in its opinion the Offer is fair from a financial point of view to the holders of Shares, the members of the Board of Directors of Igloo voted to recommend that Igloo's shareholders tender their Shares pursuant to the Offer.

The Notice of the Stock Exchange take-over bid is expected to be mailed to Igloo's shareholders, on or about December 6, 2006 and the Offer is expected to be open for acceptance until January 12, 2007. Lanctôt and its principals are acting at arm's length with the Company.