MacDonald Announces Increased Investment in Clearwater Seafoods Incorporated

Dec 21, 2012, 17:47 ET from Stewart Mckelvey

HALIFAX, Dec. 21, 2012 /CNW/ - Mickey MacDonald of Halifax, Nova Scotia, announced today that he has acquired 5,591,575 common shares of Clearwater Seafoods Incorporated at a price of $3.30 per share, representing approximately 11.0% of the issued and outstanding Clearwater shares.  Mr. MacDonald owns or controls 10,571,229 Clearwater shares or 20.8% of those outstanding.  Mr. MacDonald and persons who may be acting jointly or in concert with him collectively beneficially own 35,227,651 Clearwater shares representing approximately 69.1% of those outstanding.

In purchasing the Clearwater shares, Mr. MacDonald has relied on the private agreement exemption from the formal takeover bid rules set out in section 4.2 of Multilateral Instrument 62-104.  The purchase was made from two vendors at a cost of less than 115% of the market price of the Clearwater shares.  The purchase of Clearwater shares by Mr. MacDonald was for investment purposes.  Mr. MacDonald may from time to time acquire, dispose of or hold shares of Clearwater in the normal course of his investment activities.

SOURCE Stewart Mckelvey