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Cooke Aquaculture Buys into Clearwater Seafoods

CANADA - Cooke Aquaculture is to acquire 2,900,000 trust Units of Clearwater Seafoods Income Fund at C$1.85 per unit, in a privately negotiated deal.

The Purchased Units represent approximately 10.45 per cent of the outstanding trust units of the Fund and approximately 5.67 per cent of the voting rights attaching to all issued and outstanding securities of the Fund.

Following completion of the acquisition, Cooke will own 5,483,900 Units, representing 19.76 per cent of the outstanding trust units of the Fund and approximately 10.73 per cent of the voting rights attaching to all issued and outstanding securities of the Fund.

Cooke is acquiring the Purchased Units for investment purposes.

Cooke said that it may from time to time acquire additional securities of the Fund or dispose of securities of the Fund in the open market, by private agreement or otherwise.

A copy of the early warning report in respect of the acquisition will be available at www.sedar.com.

Cooke Aquaculture Inc. is an Atlantic Canadian family owned salmon farming company with operations in Canada, Maine and Chile.

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