ROUGEMONT, QC, Dec. 20, 2021 /CNW Telbec/ - Lassonde Industries Inc. (TSX: LAS.A) ("Lassonde" or the "Company") announces that it has received approval from the Toronto Stock Exchange ("TSX") to acquire for cancellation, if considered advisable, a certain number of Class "A" subordinate voting shares of its capital by means of open market transactions through the facilities of the TSX or alternative trading systems, in accordance with the requirements on normal course issuer bids of the TSX ("Bid"). Purchases made on the open market through the facilities of the TSX and alternative trading systems will be at the prevailing market price at the time of acquisition (plus brokerage fees).

Under the Bid, Lassonde may repurchase for cancellation up to 80,000 Class "A" subordinate voting shares of its capital (representing 2.52% of the 3,180,900 issued and outstanding Class "A" subordinate voting shares as at December 14, 2021) during the period beginning on December 23rd, 2021 and ending on or before December 22nd, 2022. In connection with the Bid, Lassonde has established an automatic share purchase plan ("Plan"). The Plan enables the Company to provide predefined instructions regarding how the Class "A" subordinate voting shares are to be repurchased on the open market during self-imposed blackout periods. The Plan has been pre-cleared by the TSX and will be implemented as of December 23, 2021. The Plan should terminate together with the Bid. It constitutes an automatic plan for purposes of applicable Canadian securities legislation.

The average daily trading volume of Lassonde's Class "A" subordinate voting shares over the last six completed calendar months was 2,744 shares ("ADTV"). Accordingly, pursuant to the TSX rules and policies, Lassonde is entitled on any trading day to purchase up to 1,000 Class "A" subordinate voting shares. In addition to this daily repurchase limit of 1,000 shares, Lassonde may also, once a week, purchase a block of shares not owned by an insider (i) having a purchase price of $200,000 or more, or (ii) of at least 5,000 shares having a purchase price of at least $50,000, or (iii) of at least 20 board lots of shares which total 150% or more of the ADTV, the whole in accordance with the TSX rules. Since May 16, 2019, Lassonde has not acquired any Class "A" subordinate voting shares.

Lassonde is of the opinion that the acquisition of its shares is an effective use of its funds and is in the best interest of the Company and its shareholders. Lassonde is making the normal course issuer bid because it is of the view that it may be advantageous to engage in purchases of the Class "A" subordinate voting shares, from time to time, when, in the opinion of management, they are trading at prices which reflect a discount from what management considers to be the appropriate value of the Class "A" subordinate voting shares. In addition, Lassonde is of the opinion that its shareholders will benefit from the reduction of the number of Class "A" subordinate voting shares issued and outstanding as a result of purchases made under the normal course issuer bid.

Decisions about the timing and extent of future purchases of Class "A" subordinate voting shares as part of the Bid are at the discretion of management and are based on various factors, including market conditions. Lassonde retains discretion as to whether to make purchases under the normal course issuer bid, and to determine the timing, amount and acceptable price of any such purchases, subject at all times to applicable TSX and other regulatory requirements.

To the Company's knowledge, no director, senior officer or associate of a director or senior officer of the Company, person acting jointly or in concert with the Company, or person holding 10% or more of any class of equity securities of the Company currently intends to sell any Class "A" subordinate voting shares of the Company under the proposed Bid. However, sales by such persons through the facilities of the TSX may occur if the personal circumstances of any such person change or if any such person makes a decision unrelated to the Bid. The benefits to any such person whose Class "A" subordinate voting shares are purchased under the Bid would be the same as the benefits available to all other holders whose Class "A" subordinate voting shares are likewise purchased.

Lassonde reserves the right to terminate the normal course issuer bid at any time prior to December 22nd, 2022.

About Lassonde

Lassonde Industries Inc. is a North American leader in the development, manufacture and sale of ready-to-drink juices and drinks marketed under brands such as Apple & Eve, Everfresh, Fairlee, Fruité, Graves, Oasis, Old Orchard, Rougemont and Sun-Rype. Lassonde is the largest producer of fruit juices and drinks in Canada and one of the two largest producers of store brand shelf-stable fruit juices and drinks in the United States. It is also a major producer of cranberry sauces. The Company also produces fruit-based snacks in the form of bars and bites.

Lassonde also develops, manufactures and markets specialty food products under brands such as Antico and Canton. The Company also imports and markets selected wines from various countries and manufactures apple ciders and cider-based beverages.

The Company produces superior quality products through the expertise of more than 2,700 people working in 17 plants across Canada and the United States. To learn more, visit www.lassonde.com.

Caution Concerning Forward-Looking Statements

This news release contains statements about future events and plans of the Company that are forward-looking. These statements may involve, but are not limited to, statements about potential purchases of shares for cancellation under the normal course issuer bid, the Company's belief that the normal course issuer bid is an effective use of funds and is in the best interest of the Company and its shareholders, the Company's intentions regarding the normal course issuer bid, and the TSX's approvals. Forward-looking statements can be recognized by such words as "may," "should," "believes," "predicts," "plans," "expects," "intends," "anticipates," "estimates," "projects," "objective," "continues," "proposes," "targets," or "aims" as well as words and expressions of a similar nature and whether they are used in the affirmative or negative or used in the conditional or future tense. Forward-looking statements also include any statements that do not refer to historical facts.

By their nature, forward-looking statements require the Company to make assumptions and predictions and are subject to inherent risks and uncertainties. There is significant risk that the forward-looking statements will not prove to be accurate. The forward-looking statements contained in this news release describe the Company's expectations at the date of this news release and, accordingly, are subject to change after such date. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause actual future events to differ materially from the assumptions and predictions expressed in the forward-looking statements. Such factors include, among others, the economic, industrial, competitive and regulatory environment in which Lassonde operates or factors that are likely to have an impact on its operations, its ability to attract and retain customers, consumers, and qualified staff, the availability and cost of raw materials and transportation, its operating costs, and the price of its finished products in the various markets where it operates. Specifically, there can be no assurance as to how many shares, if any, will ultimately be acquired by the Company under its normal course issuer bid.

The Company cautions that the foregoing list of factors is not exhaustive. This news release is subject to the disclaimer and qualified by the assumptions, qualifications and risk factors referred to in the "Uncertainties and Principal Risk Factors" section of the Company's most recent annual MD&A and the other documents it files from time to time with securities regulators in Canada and available on www.sedar.com.

The forward-looking statements contained in this press release reflect the Company's expectations on this date and are subject to change after this date. Lassonde does not undertake to update publicly or to revise these forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable legislation or regulation.

SEDAR registration number: 00002099

SOURCE Lassonde Industries Inc.

Copyright 2021 Canada NewsWire

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