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TSX Defers Consideration of Clearwater Seafoods Income Fund';s Unitholder Rights Plan

^{Published on 2011-08-24 14:07:07 - Market Wire}
 

HALIFAX, Aug. 24, 2011 /CNW/ - Clearwater Seafoods Income Fund (TSX: CLR.UN) announced that it has been notified by the Toronto Stock Exchange (the "TSX") that the TSX will defer consideration of the acceptance of the Fund's Unitholder Rights Plan until such time as the TSX is satisfied that the appropriate securities commission will not intervene pursuant to National Policy 62-202 - Take-Over Bids - Defensive Tactics.  Pursuant to TSX policies, the TSX automatically defers acceptance of shareholder rights plans adopted in response to a specific change of control proposal.

Even though the TSX has deferred its review of the Rights Plan, the Rights Plan remains in effect.  A copy of the Rights Plan is available at [ www.sedar.com ].

Forward Looking Statements

This press release contains "forward looking statements". These statements are identified by the use of phrases such as "anticipates", "expects", "believes", "estimates", "intends", "could", "may", "plans", "predicts", "projects", "will", "would", "foresees", "remain confident that" and other similar expressions or the negative of these terms and include, without limitation, statements relating to the existence or terms of any transaction for the purchase of units of the Fund, which may be impacted by many factors including due diligence, negotiation and the ability of Cooke to obtain a sufficient number of units and convertible debentures of the Fund to satisfy the conditions set-forth in its proposal.

Forward-looking statements included in this press release are made based on the Trustees' belief as well as assumptions made by, and information currently available to the Trustees. While such beliefs and assumptions are considered reasonable by the Trustees, they are inherently subject to significant business, economic and competitive uncertainties and contingencies. A number of important factors could cause actual results to differ materially from those projected in the forward looking statements. The foregoing list is not exhaustive. In addition, these forward-looking statements relate to the date on which they are made. Although the forward-looking statements contained herein are based upon what the Trustees believe to be reasonable assumptions, the Trustees cannot make assurances that actual results will be consistent with these forward-looking statements, and, except as required by law, the Trustees and the Fund disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In formulating the forward-looking statements herein, the Trustees have assumed that business and economic conditions affecting the Fund will continue substantially in the ordinary course, including without limitation with respect to industry conditions, general levels of economic activity, regulation, taxes, foreign exchange rates and interest rates, that there will be no unexpected material changes in its facilities, customer and employee relations, credit arrangements or credit and collections experience.