Dominion Citrus Income Fund
TSX : DOM.UN

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

Dominion Citrus Limited

January 12, 2011 13:37 ET

Dominion Citrus Income Fund (TSX:DOM.UN) and Dominion Citrus Limited (TSX:DMN.PR.A): Board Modifications

TORONTO, ONTARIO--(Marketwire - Jan. 12, 2011) - Dominion Citrus Income Fund ("Fund") (TSX:DOM.UN) and Dominion Citrus Limited ("DCL") (TSX:DMN.PR.A) jointly announce changes in the composition of both the Board of Trustees of the Fund and the Board of Directors of DCL. The changes are in accordance with the bylaws of each entity and are effective immediately, as follows:

  • The numbers of trustees of the Fund and directors of DCL have been reduced to 5 members each from 7 members each;

  • Winston Ash and Barry Cracower have resigned as Trustees of the Fund but remain as directors of DCL;

  • Michael Blair, Rae Wallin and Peter Kozicz have resigned as directors of DCL but remain Trustees of the Fund;

  • Jason Fielden, CEO of DCL, has also been appointed a Director of DCL;

  • Henry Knowles has resigned from both being a trustee of the Fund and a director of DCL for personal reasons; and

  • Winston Ash has been appointed Chairman of the Board of Directors of DCL, replacing Michael Blair who remains Chairman of the Board of Trustees of the Fund.

The changes are intended to create an independent representation between the Board of Directors of the operating company DCL and the Board of Trustees of the Fund. In due course candidates will be determined to fill the vacancies created by the departure of Mr. Knowles.

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.

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 Company provides procurement, processing, repacking, sorting, grading, warehousing and distribution services to its major domestic markets being Ontario and Québec. The Company also supplies products to customers in the United States. Dominion is a subsidiary of the Fund. The Fund is a publicly traded, unincorporated, open-ended limited purpose income trust. The trust units are listed on the TMX under the symbol DOM.UN.

Dominion's website may be accessed at www.dominioncitrus.com.

Contact Information

  • Investors:
    Dominion Citrus Income Fund
    Jason Fielden
    VP Finance, CFO & Corporate Secretary
    (416) 242-8341 Ext 250
    or
    Media:
    Dominion Citrus Income Fund
    Winston Ash
    President & CEO
    (416) 242-8341 Ext 249