Dominion Citrus Income Fund
TSX : DOM.UN

Dominion Citrus Income Fund
Dominion Citrus Limited
TSX : DMN.PR.A

Dominion Citrus Limited

June 24, 2009 17:30 ET

Dominion Citrus Income Fund and Dominion Citrus Limited: Announce the Acceptance of an Offer for Two Ontario Food Terminal Selling Units

TORONTO, ONTARIO--(Marketwire - June 24, 2009) - Dominion Citrus Income Fund (the "Fund") (TSX:DOM.UN) and Dominion Citrus Limited ("DCL") (TSX:DMN.PR.A) jointly announce that DCL has accepted an offer to sell a renewable lease for two type "A" selling units located at the Ontario Food Terminal for an aggregate purchase price of $3.5 million. The closing is subject to certain conditions, including landlord approval. The transaction is intended to enable DCL to focus its wholesale business on fewer but more profitable product lines in its remaining two units while reducing its operating costs and strengthening its balance sheet. This transaction is scheduled to close 60 days after receipt of approval of the sale from the landlord, the Ontario Food Terminal Board.

About Dominion

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

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.

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 by applicable security 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.

Contact Information

  • Investors:
    Dominion Citrus Income Fund and Dominion Citrus Limited
    Jason Fielden
    VP Finance, CFO & Corporate Secretary
    416-242-8341 x250
    or
    Media:
    Dominion Citrus Income Fund and Dominion Citrus Limited
    Winston R. Ash
    President & CEO
    416-242-8341 x249