/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
HALIFAX, Feb. 4, 2014 /CNW/ - Clearwater Seafoods Incorporated (TSX:
CLR) ("the Company" or "Clearwater") is pleased to announce that it has completed the issuance to the
public, on a bought deal basis, of 3,530,000 common shares ("Shares") from the treasury of the Company. The Shares were offered at a price
of $8.50 per Share, for gross proceeds to Clearwater of approximately
$30 million. The syndicate of investment dealers was co-led by Cormark
Securities Inc. and Beacon Securities Limited (the "Underwriters").
In addition, the Underwriters also exercised their option (the "Over-Allotment Option") to purchase an additional 499,400 common shares from the treasury of
the Company at the offering price, resulting in total gross proceeds
from the offering, including the proceeds from the partial exercise of
the Over-Allotment Option, of approximately $34 million.
As announced on January 13, 2014, the net proceeds of the offering will
be used for growth opportunities and general working capital.
The Shares were also offered in the United States on a private placement
basis pursuant to an exemption from the registration requirements of
the United States Securities Act of 1933, as amended.
This news release does not constitute an offer of securities for sale in
the United States. The securities being offered have not been, nor will
they be, registered under the United States Securities Act of 1933, as
amended, and such securities may not be offered or sold within the
United States absent U.S. registration or an applicable exemption from
U.S. registration requirements.
COMMENTARY REGARDING FORWARD-LOOKING STATEMENTS
This news release may contain "forward-looking information" as defined
in applicable Canadian securities legislation. All statements other
than statements of historical fact, included in this news release,
including, without limitation, statements regarding future plans and
objectives of Clearwater, constitute forward-looking information that
involve various known and unknown risks, uncertainties, and other
factors outside management's control. Forward-looking information is
based on a number of factors and assumptions which have been used to
develop such information but which may prove to be incorrect including,
but not limited to, total allowable catch levels, selling prices,
weather, exchange rates, fuel and other input costs. There can be no
assurance that such information will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such forward-looking information.
For additional information with respect to risk factors applicable to
Clearwater, reference should be made to Clearwater's continuous
disclosure materials filed from time to time with securities
regulators, including, but not limited to, Clearwater's Annual
Information Form. The forward-looking information contained in this
news release is made as of the date of this news release and Clearwater
does not undertake to update publicly or revise the forward-looking
information contained in this news release, whether as a result of new
information, future events or otherwise, except as required by
applicable securities laws.
No regulatory authority has approved or disapproved the adequacy or
accuracy of this news release.
Clearwater is one of North America's largest vertically integrated
seafood companies and the largest holder of shellfish licenses and
quotas in Canada. It is recognized globally for its superior quality,
food safety, diversity of species and reliable worldwide delivery of
premium wild, eco-certified seafood, including scallops, lobster,
clams, coldwater shrimp, crab and groundfish.
Since its founding in 1976, Clearwater has invested in science, people
and technological innovation as well as resource ownership and
management to sustain and grow its seafood resource. This commitment
has allowed it to remain a leader in the global seafood market and in
sustainable seafood excellence.
SOURCE: Clearwater Seafoods Incorporated
For further information:
Robert Wight, Chief Financial Officer, Clearwater, (902) 457-2369; Tyrone Cotie, Treasurer, Clearwater, (902) 457-8181