Clearwater Seafoods Completes Financing

On June 17, 2009, Clearwater Seafoods Limited Partnership (CSLP) entered into syndicated credit facilities in the aggregate amount of $119,500,000 pursuant to a credit agreement dated as of June 17, 2009 among CSLP as borrower, certain other affiliates as guarantors, the lenders from time to time parties thereto, and GE Canada Finance Holding Company, as administrative agent (the Facilities). The Facilities mature in 2012 and are comprised of a $60,000,000 revolving credit facility and $59,500,000 term credit facility.

The proceeds of the Facilities were used to repay CSLP's existing non-revolving term debt facility and various senior secured notes.

CSLP and its affiliates were represented in Ontario by Goodmans LLP with a team comprised of Jean Anderson, Vanessa Yeung, Rosella Santilli and Leah Ramkaran; in Nova Scotia by Joseph Macdonald, Sara Josselyn and Fae Shaw of McInnes Cooper; in the United States by Vladimir Rossman and Abigail Reed of McDermott Will & Emery LLP; and in the United Kingdom by Michael Maxtone-Smith of Reed Smith LLP.

The agent and the lenders were represented in-house by Jennifer Guerard, senior counsel, corporate lending; in Ontario by Blake, Cassels & Graydon LLP, with a team comprised of Michael Harquail, Peter MacGowan, Michelle Laniel, Aimee Yee and Karen Reynar (financial services); Mark Platteel (corporate) and Iris Tam, Lauren Temple and Evelyne Kostanska (real estate); in Nova Scotia by Cox & Palmer with a team comprised of Craig McCrea and Jennifer Forster; in the United States and the UK by Latham & Watkins LLP with a team comprised of Alejandra Garcia and Mishel Keta (US) and Fiona Landless and Ross Pooley (UK).