Dominion Citrus Income Fund
TSX : DOM.UN

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

Dominion Citrus Limited

March 02, 2015 09:17 ET

Dominion Citrus Income Fund (TSX:DOM.UN) and Dominion Citrus Limited (TSX:DMN.PR.A) Win Court Case

TORONTO, ONTARIO--(Marketwired - March 2, 2015) - Dominion Citrus Income Fund (TSX:DOM.UN) (the "Fund") and Dominion Citrus Limited (TSX:DMN.PR.A) ("DCL") announce that the application (the "Application") commenced against the Fund and DCL (see the press release dated November 7, 2014) in the Ontario Superior Court of Justice by Solar Harvest Company Ltd. and Robert Fortune (the "Applicants"), holders of 527,500 Series A preference shares in the capital of DCL, has been dismissed with costs to be awarded to the Fund and DCL. In the Application, the Applicants were claiming an interim and interlocutory injunction restraining DCL from making any further payments to the Fund, or to any other holder of common shares of DCL, in any manner and specifically restraining DCL from paying interest under the Participating Notes issued by DCL and held for the benefit of the Fund. In the Application the Applicants were also claiming other declarations and Orders including a mandatory Order directing DCL to redeem the Applicants' Series A preference shares and pay to the Applicants all outstanding dividends on the Applicants' Series A preference shares. The Application was heard on February 25, 2015. In a written decision dated February 27, 2015, the Honourable Mr. Justice Newbould of the Ontario Superior Court of Justice dismissed the Application as being statute barred. The Applicants have 30 days to appeal the decision.

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 Series A preference shares of DCL are listed on the TSX under the symbol DMN.PR.A.

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

Contact Information

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

    Dominion Citrus Limited
    Winston Ash
    President & CEO
    (416) 242-8341 x 250