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HALIFAX, April 10 /CNW/ - Clearwater Seafoods Income Fund (the "Fund")
(TSX:CLR.UN) and Clearwater Seafoods Limited Partnership ("Clearwater") have
announced today that the Fund's syndicate of underwriters has exercised the
over-allotment option of $4,542,000 principal amount of its most recent Series
2007 7.25% convertible unsecured subordinated debenture offering, increasing
the gross proceeds of the offering to $48,042,000. The offering was undertaken
on a bought deal basis by a syndicate of underwriters led and bookrun by TD
Securities Inc. with co-lead underwriters BMO Capital Markets and Scotia
Capital Inc. and including CIBC World Markets Inc., National Bank Financial
Inc. and Beacon Securities Limited.
The net proceeds of the offering will be used to enhance Clearwater's
capital structure and more importantly to provide the flexibility to allow
Clearwater to pursue potential accretive acquisitions that will be a strategic
fit with its plan for growth.
Clearwater is recognized for its consistent quality, wide diversity and
reliable delivery of premium seafood, including scallops, lobster, clams, cold
water shrimp, crab and groundfish.
Since its founding in 1976, Clearwater has invested in science, people,
technology, resource ownership and resource management to preserve and grow
its seafood resource. This commitment has allowed it to remain a leader in the
global seafood industry.
For further information:
For further information: Robert Wight, Chief Financial Officer,
Clearwater, (902) 457-2369; Tyrone Cotie, Director of Corporate Finance and
Investor Relations, Clearwater, (902) 457-8181