TORONTO, ONTARIO--(Marketwired - Dec. 18, 2015) - Dominion Citrus Limited (TSX:DMN.PR.A) ("DCL") was advised on December 17, 2015 by a letter from the Toronto Stock Exchange ("TSX") that the TSX is reviewing the eligibility for continued listing on the TSX of the Series A Preference Shares of DCL. DCL is being reviewed under the Remedial Review Process of the TSX and has been granted 30 days to comply with all requirements for continued listing. The TSX identified the financial condition, working capital and capital structure of DCL and the market value of the Series A Preference Shares for the 30 previous consecutive trading days as areas of concern.
Management is reviewing the situation and is considering all options, including possibly alternative listing options. There is no assurance that either DCL will be able to achieve compliance with the TSX's listing requirements within the required time frame or will secure an alternative listing.
About Dominion
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. Dominion also supplies products to customers in the United States.
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 or DCL's future performance. 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 DCL's business, including those described in DCL's most recent annual information form filed on SEDAR at www.sedar.com, and especially the ability of DCL to restructure its debt represented by its participating notes held by Dominion Citrus Income Fund, its parent company. Any forward-looking statements speak only as of the date of this press release, 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.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Contact Information:
Paul Scarafile
President & CEO
416-242-8341 x 250