August 02, 2016 09:17 ET
TORONTO, ONTARIO--(Marketwired - Aug. 2, 2016) - Dominion Citrus Limited ("DCL") announces that its former parent company, Dominion Citrus Income Fund (TSX:DOM.UN) (the "Fund"), reported July 29, 2016 the completion of the sale of all the Fund's assets to Dominion Holding Corporation (formerly 2510891 Ontario Inc.) pursuant to a Share, Debt, Security and Option Purchase Agreement dated May 24, 2016. The assets of the Fund which were sold on July 29, 2016 include all the issued and outstanding common shares of DCL, the participating notes issued by DCL in favour of the Fund and the option issued by DCL to the Fund for the purchase by the Fund of the common shares of Dominion Farm Produce Limited, one of the subsidiaries of DCL. The new parent company of DCL is Dominion Holding Corporation, a corporation controlled by Paul Scarafile, Interim President and CEO of DCL.
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.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Dominion Citrus LimitedBarry CracowerDirector(416) 473-3070
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