VANCOUVER, Jan. 4 /CNW/ - Sun Gro Horticulture Income Fund (the "Fund") (TSX:GRO.UN), Sun Gro Horticulture Canada Ltd. and Sun Gro
Horticulture Inc. are pleased to announce that the previously announced
reorganization of the Fund's trust structure to a corporation pursuant
to a plan of arrangement transaction under the Canada Business Corporations Act (the "Arrangement") has been completed, effective December 31, 2010.
Pursuant to the Arrangement holders of trust units ("Unitholders") of the Fund will receive, for each unit held, one common share ("Common Shares") of Sun Gro Horticulture Inc. The board of directors of Sun Gro
Horticulture Inc. consists of the members of the board of directors of
Sun Gro Horticulture Canada Ltd. elected at the meeting of Unitholders
held on May 27, 2010.
Trading of the Sun Gro Horticulture Inc. Common Shares on the Toronto
Stock Exchange is expected to commence two to three business days
following the date hereof under the symbol "GRO", subject to the
approval of the Toronto Stock Exchange.
About Sun Gro Horticulture Inc.
Sun Gro Horticulture Inc. is the largest producer and distributor of
peat and bark-based growing mixes to professional plant growers in the
US and Canada. It is also North America's largest producer and
distributor of sphagnum peat moss, with approximately 65,000 acres of
peat bogs under lease. Sun Gro Horticulture Inc. sells its professional
products primarily to greenhouse, nursery and specialty crop
growers. The company also sells peat moss and potting mixes to retail
customers, either by way of private label partnerships or under its own
brand names. In addition, Sun Gro Horticulture Inc. sells sand-based
mixes to golf course developers and landscapers. The company's North
America-wide production network now comprises 12 Canadian plants and 13
Forward Looking Statements
Certain statements contained in this press release are forward-looking
statements and information (collectively "forward-looking statements"), within the meaning of the applicable Canadian securities
legislation. We hereby provide cautionary statements identifying
important factors that could cause our actual results to differ
materially from those projected in these forward-looking statements.
Any statements that express, or involve discussions as to,
expectations, beliefs, plans, objectives, assumptions or future events
or performance (often, but not always, through the use of words or
phrases such as "will likely result", "are expected to", "will
continue", "is anticipated", "projection", "vision", "goals",
"objective", "target", "schedules", "outlook", "anticipate", "expect",
"estimate", "could", "should", "expect", "plan", "seek", "may",
"intend", "likely", "will", "believe" and similar expressions are not
historical facts and are forward-looking and may involve estimates and
assumptions and are subject to risks, uncertainties and other factors
some of which are beyond our control and difficult to predict.
Accordingly, these factors could cause actual results or outcomes to
differ materially from those expressed in the forward-looking
statements. Therefore, any such forward-looking statements are
qualified in their entirety by reference to the factors discussed
throughout this document. In particular, material forward-looking
statements in this press release include the expected commencement date
for trading of Common Shares on the Toronto Stock Exchange for Sun Gro
Although we believe that the expectations reflected by the
forward-looking statements presented in this release are reasonable,
our forward-looking statements have been based on assumptions and
factors concerning future events that may prove to be inaccurate.
Those assumptions and factors are based on information currently
available to us about ourselves and the businesses in which we
operate. Information used in developing forward-looking statements
has been acquired from various sources including third-party
consultants, suppliers, regulators, and other sources. In some
instances, material assumptions are disclosed elsewhere in this release
in respect of forward-looking statements.
The Fund's Annual Information form and other documents filed with
securities regulatory authorities (accessible through the SEDAR website
www.sedar.com) describe the risks, material assumptions and other
factors that could influence actual results and which are incorporated
herein by reference.
Further, any forward-looking statement speaks only as of the date on
which such statement is made, and, except as required by applicable
law, we undertake no obligation to update any forward-looking statement
to reflect events or circumstances after the date on which such
statement is made or to reflect the occurrence of unanticipated
events. New factors emerge from time to time, and it is not possible
for management to predict all of such factors and to assess in advance
the impact of each such factor on our business or the extent to which
any factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
SOURCE Sun Gro Horticulture Income Fund
For further information:
Bradley A. Wiens, Corporate Secretary
Sun Gro Horticulture Inc.
Tel: (425) 373-3603