EDC provides up to $10 million in short term financing for Clearwater

    OTTAWA, May 15 /CNW Telbec/ - Export Development Canada (EDC) today
announced that it has provided Clearwater Seafood Limited Partnerships
(Clearwater) with short term financing of up to $10 million.
    The new financing will provide additional capacity to Clearwater's senior
debt facilities. EDC's facility will provide flexibility for Clearwater's
working capital needs, and will ensure short term liquidity is maintained.
    "Clearwater and EDC have enjoyed an excellent working relationship over
the years, so we were happy to be able to step up and provide them with
additional support for the kind of financing they needed," said Dave Surrette,
Regional Vice-president, Atlantic Canada, EDC.
    Clearwater is recognized for its consistent quality, wide diversity and
reliable delivery of premium seafood, including scallops, lobster, clams,
coldwater shrimp, crab and ground fish. 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 market.

    EDC is Canada's export credit agency, offering innovative commercial
solutions to help Canadian exporters and investors expand their international
business. EDC's knowledge and partnerships are used by more than 8,300
Canadian companies and their global customers in up to 200 markets worldwide
each year. EDC is financially self-sustaining, a recognized leader in
financial reporting and economic analysis, and has been recognized as one of
Canada's Top 100 Employers for eight consecutive years.

For further information:

For further information: Phil Taylor, Export Development Canada, (613)
598-2904, Blackberry: ptaylor@edc.ca

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