Island Zip Incorporated (IZI) is a Prince Edward Island (P.E.I.) company that was incorporated on October 1, 2020, and will celebrate its first fiscal year end on September 30, 2021. IZI operates a newly constructed adventure course on P.E.I. that includes 3,000 metres of ziplines, swinging bridges, and additional exhilarating obstacles. IZI, which is open to the public from April to September, is owned by a young couple, Kim and John Gamble, who are recent university graduates. In order to make the company a reality, the Gambles were fortunate to receive a grant from the P.E.I. Department of Tourism to assist in the construction of the adventure course, related capital assets, and 2021 operating costs. Although not expected to generate profits immediately, the tourism department believes IZI will stimulate tourist traffic to P.E.I. and is therefore a worthy investment. It will be monitoring attendance to help determine whether IZI is attracting sufficient visitors to justify extending further operat

APPENDIX III ADVENTURE COURSE COSTS Construction of the adventure course and related buildings commenced in October 2020 and was completed on March 1, 2021, in time for the start of the 2021 operating season. The costs of construction totalled $1,245,000, and the breakdown was as follows: Site preparation and surveying costs $ 150,000 Fees to Adventure Alley (Note 1): Training Testing Construction $ 25,000 20,000 255,000 300,000 Fees to Bowman Construction (Note 2) 750,000 Advertising 5,000 Furniture acquired 40,000 Total amount reported on balance sheet $ 1,245,000 Notes: 1. An amount of $300,000 was paid to Adventure Alley, the firm that designed and constructed the adventure course for IZI. Of this $300,000 fee, $20,000 was spent in April to test the course, and $25,000 was spent to provide extensive training to the IZI staff. 2. Fees paid to Bowman Construction totalled $750,000. Bowman Construction designed and built all aspects of IZi's facility that were not part of the actual adventure course. This included the office space, a restaurant, and a gift shop. APPENDIX III ADVENTURE COURSE COSTS Construction of the adventure course and related buildings commenced in October 2020 and was completed on March 1, 2021, in time for the start of the 2021 operating season. The costs of construction totalled $1,245,000, and the breakdown was as follows: Site preparation and surveying costs $ 150,000 Fees to Adventure Alley (Note 1): Training Testing Construction $ 25,000 20,000 255,000 300,000 Fees to Bowman Construction (Note 2) 750,000 Advertising 5,000 Furniture acquired 40,000 Total amount reported on balance sheet $ 1,245,000 Notes: 1. An amount of $300,000 was paid to Adventure Alley, the firm that designed and constructed the adventure course for IZI. Of this $300,000 fee, $20,000 was spent in April to test the course, and $25,000 was spent to provide extensive training to the IZI staff. 2. Fees paid to Bowman Construction totalled $750,000. Bowman Construction designed and built all aspects of IZi's facility that were not part of the actual adventure course. This included the office space, a restaurant, and a gift shop