TORONTO, Oct. 1, 2012 (GLOBE NEWSWIRE) -- SunOpta Inc. (Nasdaq:STKL) (TSX:SOY), (the "Company"), a leading global company focused on natural, organic and specialty foods, announced today that its International Foods Group including The Organic Corporation B.V. ("TOC") and certain international subsidiaries of TOC ("Borrowers") have successfully entered into a Multi-purpose Facilities Agreement ("Club Facility") with ING Bank N.V. and ABN Amro Bank N.V. ("Lenders"). The Agreement expands the Group's borrowing capacity and provides for a total of €48 million in financing via two main facilities, a €45M revolving credit facility covering working capital needs, and €3 million pre-settlement facility covering currency hedging requirements. The new €45M revolving credit facility replaces an existing €35M credit facility with ING Bank N.V., and is secured by the working capital of the Borrowers. The increased facility size will be used to support growth within the Company's international foods operations. There is no set maturity to the Club Facility and the limit can be extended or adjusted based on the needs of the business based upon approval of the Lenders. Initial interest rates under the Club Facility are expected to be similar to the previous credit facility as the loan margin and 'cost of funds' pricing is comparable. "This expanded credit facility will allow the International Foods Group to continue to grow their global sourcing, supply and processing capabilities which are of strategic importance to SunOpta's integrated natural and organic foods platform," commented Rob McKeracher, Vice President and Chief Financial Officer. "We appreciate the support from our international lenders, which reflects the strength of our relationships with our banks and the solid fundamentals of our business." About SunOpta Inc. SunOpta Inc. is a leading global company focused on natural, organic and specialty foods products. The company specializes in sourcing, processing and packaging of natural and organic food products, integrated from seed through packaged products; with a focus on strategically vertically integrated business models. The Company's core natural and organic food operations focus on value-added grains, fiber and fruit based product offerings, supported by a global infrastructure. The company has two non-core holdings, a 66.2% ownership position in Opta Minerals Inc., listed on the Toronto Stock Exchange, a producer, distributor, and recycler of environmentally friendly industrial materials; and a minority ownership position in Mascoma Corporation, an innovative biofuels company. The SunOpta Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3958 Forward Looking Statements Certain statements included in this press release may be considered "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation. These forward-looking statements include, but are not limited to, management's expectations that the International Foods Group will continue to grow and that pricing under the Club Facility will not be significantly different than under the previous facility. Terms and phrases such as "support growth", "expected", "will allow", "continue to" and other similar terms and phrases are intended to identify these forward looking statements. Forward looking statements are based on information available to us on the date of this release and are based on estimates and assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors the Company believes are appropriate in the circumstances. Whether actual timing and results will be consistent with expectations and predications of the Company is subject to many risks and uncertainties that could cause actual results to differ materially from the company's expectations and predictions, including the term availability of the credit facility and the interest rates to be paid on borrowed funds as well as those risks detailed under "Risk Factors" in the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q (available at www.sec.gov). Consequently all forward-looking statements made herein are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by the Company will be realized.
CONTACT: SunOpta Inc. Rob McKeracher, Vice President & CFO Susan Wiekenkamp, Information Officer Tel: 905-455-2528, ext 103 firstname.lastname@example.org Website: www.sunopta.com