/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
HALIFAX, June 30, 2015 /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 an aggregate of 3,755,900 common shares
("Shares"), including 489,900 common shares issued pursuant
to the exercise in full of the over-allotment option, from the
treasury of the Company. The Shares were offered at a price of
$12.25 per Share (the "Offering
Price"), for gross proceeds to Clearwater of approximately $46 million. The syndicate of investment dealers
was led by Cormark Securities Inc. and included Beacon Securities
Limited and Scotia Capital Inc. (the "Underwriters").
Furthermore, the Company completed a non-brokered private
placement with certain existing shareholders for approximately
$15 million, resulting in total gross
proceeds from the offering of approximately $61 million.
The net proceeds of the offering will be used for growth
opportunities and general working capital and, pending use of such
proceeds, will be invested in accordance with the Company's
investment policy guidelines as approved by the Company's board of
directors and the net proceeds may be used to repay balances on
revolving credit facilities of the Company or Clearwater Seafoods
Limited Partnership outstanding from time to time.
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 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 release is made as of the date of this release and
Clearwater does not undertake to
update publicly or revise the forward-looking information contained
in this 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.
About Clearwater
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