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Premium Brands Holdings Corporation Announces Intention to Make Normal Course Issuer Bid

August 20, 2014



VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 20, 2014) - Premium Brands Holdings Corporation (the "Corporation") (TSX:PBH) announced today acceptance by the Toronto Stock Exchange (the "TSX") of its Notice of Intention to Make a Normal Course Issuer Bid through the facilities of the TSX and other Canadian trading platforms.

The Corporation is proposing the purchase, for cancellation, up to 10% of the public float, or up to $825,000, of its issued and outstanding 7% Convertible Debentures (TSX:PBH.DB), for a period commencing August 25th, 2014 to December 31st, 2014 (the "7% Convertible Debenture Purchase Period").

The Corporation is also proposing to purchase, for cancellation, up to 2.5% of its issued and outstanding Common Shares, and up to 5% of the public float of each of its remaining issued and outstanding Convertible Debentures, namely:

i. 555,863 Common Shares (TSX:PBH); ii. $2,875,000 5.75% Convertible Debentures (TSX:PBH.DB.A); and iii.$2,875,000 5.70% Convertible Debentures (TSX:PBH.DB.B); and iv. $2,875,000 5.50% Convertible Debentures (TSX:PBH.DB.C),



for a period commencing August 25th, 2014 to August 24th, 2015 (the "Purchase Period").

As at the close of business on August 15th, 2014 the total number of issued and outstanding securities of the Corporation was:

i. Common Shares - 22,234,547 ii. 7% Convertible Debentures - $8,251,000 iii.5.75% Convertible Debentures - $57,500,000 iv. 5.70% Convertible Debentures - $57,500,000 v. 5.50% Convertible Debentures - $57,500,000



The maximum number of each class of securities that the Corporation may purchase pursuant to the Issuer Bid in any single day (unless other exemptions are available) is as follows:

i. Common Shares - 7,042; ii. 7% Convertible Debentures - $3,000; iii.5.75% Convertible Debentures - $7,000; iv. 5.70% Convertible Debentures - $2,000; and v. 5.50% Convertible Debentures - $9,000.



The Corporation has in place a Normal Course Issuer Bid respecting each of the above-named securities, excepting the 5.50% Convertible Debentures, which was filed with The Toronto Stock Exchange on August 21, 2013 and which expires on August 22, 2014. The Corporation purchased $7,000 of its 7% Convertible Debentures under and pursuant to the terms of such Normal Course Issuer Bid. No purchases of any other of the above-named securities have been made by the Corporation pursuant to such Normal Course Issuer Bid.

The Corporation is proceeding with this Issuer Bid because its board of directors believes that, from time to time, the market price of the Corporation's securities may not adequately reflect the current value of, or prospects for, the Corporation's business. Accordingly, the Corporation's board of directors believes that the Corporation's securities may, at such times, represent an attractive opportunity to realize additional securityholder value, and that the purchase of such securities at such times would be an appropriate use of the Corporation's available funds.

The Corporation may commence purchases of its securities on August 25th, 2014, at times and in quantities determined by it. All purchases will be made on the open market through the facilities of the TSX, and other Canadian trading platforms, in accordance with their policies. The price to be paid by the Corporation for its securities will be the market price at the time of acquisition.

Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada, Ohio and Washington State. The Company services a diverse base of customers located across North America and its family of brands and businesses include Grimm's, Harvest, McSweeney's, Bread Garden Go, Hygaard, Hempler's, Quality Fast Foods, Gloria's Best of Fresh, Direct Plus, Harlan Fairbanks, Creekside Bakehouse, Stuyver's Bakestudio, Centennial Foodservice, B&C Food Distributors, Shahir, Wescadia, Duso's, Maximum Seafood, SK Food Group, OvenPride, Hub City Fisheries, Audrey's, Deli Chef, Piller's, and Freybe.

FOR FURTHER INFORMATION PLEASE CONTACT: Premium Brands Holdings CorporationGeorge Paleologou President and CEO (604) 656-3100 Premium Brands Holdings CorporationWill Kalutycz CFO (604) 656-3100 www.premiumbrandsholdings.com Source: Premium Brands Holdings Corporation


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Source: Marketwire (Canada)


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