Thursday, August 11 2022

VANCOUVER, BC, July 22, 2022 /CNW/ – Premium Brands Holdings Corporation (TSX: PBH) (the “Company“) announced today that the Toronto Stock Exchange (the “TSX“) has accepted its notice of intention to make a normal course issuer bid (“ORCN“) to purchase for cancellation up to 2,239,887 common shares, representing 5% of the issued and outstanding common shares of the Company.

From July 20, 2022, the Company had 44,797,746 common shares issued and outstanding. In accordance with applicable TSX rules, daily purchases under the issuer bid will not exceed 21,482 common shares, which represents 25% of the average daily trading volume of the common shares for the 6-month period. finishing June 30, 2022, or 85,928 ordinary shares. In addition, the Company may, once per calendar week, make a bulk purchase of Common Shares which are not held, directly or indirectly, by insiders of the Company.

The NCIB will begin on July 26, 2022and will end on July 25, 2023, or on an earlier date on which the Company completes the purchase of the maximum number of common shares authorized under the issuer bid. All purchases will be made on the open market through the facilities of the TSX and/or other Canadian trading platforms in accordance with their policies. The price to be paid by the Company for its common shares will be the market price at the time of purchase. All common shares purchased by the Company pursuant to the issuer bid will be cancelled.

From time to time, when the Company does not have material non-public information about itself or its securities, it may enter into a predefined purchase plan with its broker to permit the repurchase of Common Shares at times when internal trading activities of the Company blackout periods, insider trading or other rules prohibit such redemptions. Any such plan will be adopted in accordance with applicable Canadian securities laws and the rules of the TSX.

The Company is making the issuer bid because it believes that, from time to time, the prevailing market price of the Company’s common shares may not adequately reflect the underlying value of the Company, and that the purchase of Common Shares for cancellation will increase the pro rata interest of, and be beneficial to, all remaining shareholders.

The Company has not made any purchases under the OPRCNA during the 12-month period preceding the date of the notice of intention filed with the TSX.

About Premium Brands

Premium Brands has a broad portfolio of leading specialty food manufacturing and differentiated food distribution businesses with operations across Canada, United States and Italy.

www.premiumbrandsholdings.com

Forward-looking statements

This press release contains forward-looking statements regarding the Company, including, without limitation, the anticipated benefits of the tender offer and the number of common shares that may be purchased under the tender offer. redemption. Although management believes that the expectations reflected in these forward-looking statements are reasonable and represent the Company’s internal expectations and beliefs as of July 22, 2022, there can be no assurance that such expectations will prove to be accurate, as such forward-looking statements involve unknown risks and uncertainties beyond the Company’s control, which may cause the Company’s actual results, performance and achievements to differ materially from future results, performance or achievements expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, the market reaction to the tender offer and the assumptions described in the Company’s 2021 MD&A under the heading Risks and uncertainties, which is electronically filed on SEDAR and available online at www.sedar.com.

Unless otherwise indicated, the forward-looking statements contained in this press release are made as of the date hereof and, except as required by applicable law, will not be publicly updated or revised. This cautionary statement expressly qualifies the forward-looking information contained in this press release.

SOURCE Premium Brands Holdings Corporation

For further information: George Paleologou, President and CEO, or Will Kalutycz, Chief Financial Officer, at (604) 656-3100.

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