News Column

Dominion Citrus Provides Update on Unitholder and Preference Shareholder Meetings

Apr 10 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwired) -- 04/10/13 -- Dominion Citrus Income Fund (the "Fund") (TSX: DOM.UN) and Dominion Citrus Limited (TSX: DMN.PR.A) (the "Company") (collectively, "Dominion Citrus") today provided an update on the Fund's previously announced meeting of unitholders (the "Unitholder Meeting") and the Company's previously announced meeting of shareholders (the "Shareholder Meeting", the Unitholder Meeting and the Shareholder Meeting being collectively referred to as the "Meetings"). As previously announced, the Meetings were scheduled to be held on April 26, 2013. However, Dominion Citrus has decided to adjourn the Meetings in order to permit the Company's Board of Directors and the Fund's Board of Trustees to further assess the situation with their financial advisors and respective independent legal advisors, consider their advice and determine the appropriate course of action under the circumstances. Once such course of action has been determined, Dominion Citrus expects to make a further announcement.

Caution regarding Forward-Looking Statements

This release contains statements, which, to the extent that they are not a recitation of historical fact, may constitute "forward-looking statements". Forward-looking statements may include financial and other projections, as well as statements regarding our future plans, objectives or performance, or our underlying assumptions. The words "estimate", "anticipate", "believe", "expect", "intend" or other similar expressions of future or conditional verbs such as "will", "should", "would" and "could" are intended to identify forward-looking statements. Persons reading this press release are cautioned that such statements are only expectations, and that our actual results or performance may be materially different. Forward-looking information involves certain risks, assumptions, uncertainties and other factors which may cause actual future results to differ materially from those expressed or implied in any forward-looking statements. In particular and without limitation, there is no assurance that the previously announced settlement with the holders of preference shares (the "Settlement") will be implemented on the terms previously announced or at all as such implementation is uncertain and subject to a number of risks, many of which are beyond the control of the Company or the Fund. The Company and the Fund may suffer material adverse consequences in the event that the Settlement is not implemented. In addition, there is no assurance that the previously announce securityholder meetings announced in connection with the approval of the Settlement will proceed.

Readers should not place undue reliance on these forward-looking statements when making decisions, and should consider the date onto which the statements were made. Except as required under applicable securities law, management disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Dominion Citrus

The Fund is a publicly traded, unincorporated, open-ended limited purpose income trust. On January 1, 2006, all of the common shares of the Company were exchanged for trust units of the Fund. The trust units are listed on the TSX under the symbol DOM.UN. The Series A preference shares of the Company are listed on the TSX under the symbol DMN.PR.A.

Dominion Citrus is a diversified food company supplying fresh produce to a wide variety of customers in retail, foodservice and food distribution businesses. Dominion provides procurement, processing, repacking, sorting, grading, warehousing and distribution services to its major domestic markets being Ontario and Quebec. Dominion also supplies products to customers in the United States. Dominion Citrus' website may be accessed at www.dominioncitrus.com.



Contacts:
Dominion Citrus Ltd.
Jason Fielden
President & CEO
416-242-8341 x 250
www.dominioncitrus.com





Source: Marketwire


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