Dominion Citrus Income Fund
TSX : DOM.UN

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

Dominion Citrus Limited

December 03, 2015 14:57 ET

Dominion Citrus Income Fund and Dominion Citrus Limited Provide Update on Proposed Transfer of Dominion Farm Produce Limited

TORONTO, ONTARIO--(Marketwired - Dec. 3, 2015) - Dominion Citrus Income Fund (TSX:DOM.UN) (the "Fund") and Dominion Citrus Limited (TSX:DMN.PR.A) ("DCL") are updating previously released information (see press release dated November 6, 2015) with respect to the exercise by the Fund of its option to acquire from DCL all the shares of Dominion Farm Produce Limited ("DFPL") at fair market value (the "Proposed Transfer"). At separate board meetings held on December 2, 2015, the Board of Trustees of the Fund and the Board of Directors of DCL each determined to postpone closing of the Proposed Transfer until January 2, 2016 or later in order for the Board of Trustees of the Fund and the Board of Directors of DCL to further properly consider tax and operational issues arising in connection with the Proposed Transfer.

About Dominion

The Fund is a publicly traded, unincorporated, open-ended limited purpose income trust. On January 1, 2006, all of the common shares of DCL were exchanged for trust units of the Fund. The trust units are listed on the TSX under the symbol DOM.UN. The Fund's website may be accessed at www.dominioncitrus.com.

DCL is a diversified food company supplying fresh produce to a wide variety of customers in retail, foodservice and food distribution businesses. DCL provides procurement, processing, repacking, sorting, grading, warehousing and distribution services to its major domestic markets being Ontario and Québec. DCL also supplies products to customers in the United States. The Series A preference shares of DCL are listed on the TSX under the symbol DMN.PR.A.

Cautionary Statement Regarding Forward Looking Information and Statements

Certain statements contained in this press release contain "forward-looking information" pursuant to Canadian securities laws ("forward-looking statements"). Forward-looking statements relate to future events, including announcements regarding future plans and developments respecting DFPL and the Proposed Transfer. All statements other than statements of historical fact are forward-looking statements. The use of any of the words "anticipate", "plan", "contemplate", "continue", "estimate", "expect", "intend", "propose", "might", "may", "will", "shall", "project", "should", "could", "would", "believe", "predict", "forecast", "pursue", "potential" and "capable" and similar expressions are intended to identify forward-looking statements. These forward-looking statements may be affected by the risks and uncertainties in the Fund's and DCL's business, including those described in the Fund's and DCL's most recent annual information form filed on SEDAR at www.sedar.com. Any forward-looking statements speak only as of the date of this press release, and the Fund and DCL assume no obligation to update or revise any forward-looking statement to reflect events or circumstances arising after the date of this press release except as required by applicable securities laws.

Contact Information

  • Dominion Citrus Income Fund
    Peter McLaughlin
    Chairman of the Board of Trustees
    (416) 802-2367

    Dominion Citrus Limited
    Paul Scarafile
    President & CEO
    (416) 242-8341 x 250