The North West Company Inc.
TSX : NWF.UN

The North West Company Inc.

June 07, 2007 10:02 ET

North West Company Fund Completes Final Step of Reorganization

WINNIPEG, MANITOBA--(Marketwire - June 7, 2007) - The North West Company Fund ("NWF")(TSX:NWF.UN) announces it has received lender approval and has completed the final step of a previously announced reorganization whereby the partnership units held by The North West Company Inc. have been transferred to the Fund through a series of steps outlined in the April 21, 2006 Information Circular. The completion of the reorganization changes the flow of earnings such that most of the Canadian pre-tax earnings will flow to the Fund.

"We are pleased that we have completed the last step of our reorganization which creates a more efficient structure for our unitholders," commented Edward Kennedy, President & CEO of North West.

The North West Company (NWC) is a leading retailer of food and everyday products and services to rural communities and urban neighborhoods across Canada and Alaska. NWC operates 203 stores under a number of trading names, including Northern, NorthMart, Giant Tiger and AC Value Center, and provides catalogue shopping services through its Selections catalogue in northern Canada.

The units of the North West Company Fund trade on the TSX Toronto Stock Exchange under the symbol "NWF.UN".

Contact Information

  • The North West Company
    Edward Kennedy
    President & CEO
    (204) 934-1482
    (204) 934-1317 (FAX)
    Email: ekennedy@northwest.ca
    or
    The North West Company
    Leo Charriere
    Executive Vice-President & CFO
    (204) 934-1503
    (204) 934-1455 (FAX)
    Email: lcharriere@northwest.ca
    or
    The North West Company
    John King
    Vice-President, Finance & Secretary
    (204) 934-1397
    (204) 934-1455 (FAX)
    Email: jking@northwest.ca
    Website: www.northwest.ca