Boston Pizza Royalties Income Fund (the Fund) is a Canada-based limited purpose open-ended trust established to acquire indirectly, through Boston Pizza Royalties Limited Partnership and Boston Pizza Holdings Trust, the Canadian trademarks owned by Boston Pizza International Inc. (BPI) and used in connection with the operation of the Boston Pizza restaurants in Canada (collectively the BP Rights). The Fund was also established to acquire, directly from a bank, the BPI loan. BPI carries on business as a franchisor of casual dining pizza and pasta restaurants. On January 1, 2011, six new Boston Pizza Restaurants that opened across Canada between January 1, 2010 and December 31, 2010 were added to the Royalty Pool and six restaurants that permanently closed during 2010 were removed from the Royalty Pool. The Fund�s subsidiaries include wholly owned Boston Pizza Holdings Trust, Boston Pizza Holdings GP Inc., Boston Pizza Holdings Limited Partnership and 80%-owned Boston Pizza GP Inc.