SunOpta Announces Additional Information Available for Annual and Special Meeting of Shareholders
April 25 2017 - 7:30AM
Business Wire
Files Supplement to Proxy Statement
SunOpta Inc. (“SunOpta”) (Nasdaq:STKL) (TSX:SOY), a leading
global company focused on organic, non-genetically modified and
specialty foods, today announced that additional information is
available regarding the matters to be considered at its Annual and
Special Meeting of Shareholders, which SunOpta has set for May 24,
2017 at 4:00 P.M. in Mississauga, Ontario, Canada.
Oaktree Capital Management, L.P. ("Oaktree") has requested
SunOpta's consent to waive a standstill provision that restricts
Oaktree from acquiring additional securities of SunOpta. Oaktree
has requested the waiver to acquire up to 5,125,036 common shares
of SunOpta, being the number of common shares that would increase
Oaktree's beneficial ownership to 19.99% of common shares currently
outstanding on a partially-diluted basis, assuming the exchange of
all shares of preferred stock issued by a subsidiary of SunOpta to
Oaktree in October, 2016. The Board of Directors is currently
considering Oaktree's request. As Oaktree is a related party of
SunOpta and has two nominees on the Board of Directors, the Board
of Directors has established a process to have the disinterested
directors of the Board of Directors consider the request and
negotiate the terms thereof.
Additional information is available in a Supplement to SunOpta's
Proxy Statement filed April 13, 2017. The Supplement is available
and can be viewed on SEDAR and EDGAR.
About SunOpta Inc.
SunOpta Inc. is a leading global company focused on organic,
non-genetically modified (“non-GMO”) and specialty foods. SunOpta
specializes in the sourcing, processing and packaging of organic
and non-GMO food products, integrated from seed through packaged
products; with a focus on strategic vertically integrated business
models. SunOpta’s organic and non-GMO food operations revolve
around value-added grain, seed, fruit and vegetable based product
offerings, supported by a global sourcing and supply
infrastructure.
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SunOpta Inc. Contact:ICRScott Van Winkle,
617-956-6736scott.vanwinkle@icrinc.com
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