The record date for the arrangement is September 30.

 

Earlier this year, the company received the required shareholder and court approvals for the arrangement, and with a favourable ruling from the Canada Revenue Agency expected imminently, it is positioned to move forward with the closing.

 

Pursuant to the Arrangement, MLF will retain a 16% ownership interest in Canada Packers, with the balance of the shares being distributed pro-rata to existing MLF shareholders. Each MLF Shareholder will receive, for each common share of MLF held on the arrangement record date, 0.2 of a common share of Canada Packers, as further described in the management information circular of MLF dated May 1. Based upon 124,826,070 issued and outstanding MLF Common Shares as of September 25, it is expected that there will be approximately 29,720,492 Canada Packers Common Shares immediately following completion of the arrangement, of which 24,965,214 are to be distributed pro rata to MLF Shareholders and 4,755,278 of which are to be retained by MLF.

 

The Toronto Stock Exchange will implement a "due bill" trading market for MLF Common Shares commencing Sept. 30 and ending at the close of business on October 1. The MLF Common Shares are expected to trade in the "due bill" market, under the symbol "MFI", on the TSX.

 

Additionally, the TSX will implement an "if, as and when issued ex-distribution" trading market for the MLF Common Shares and an "if, as and when issued" trading market for the Canada Packers Common Shares commencing Sept. 30, and ending at the close of business on Oct. 1. The MLF Common Shares will trade in the "if, as and when issued ex-distribution" trading market, under the designation "MFI.W", on the TSX. The Canada Packers Common Shares will trade in the "if, as and when issued" trading market, under the designation CPKR, on the TSX.

 

The MLF Common Shares has resumed "regular way" trading on the TSX on Oct. 2 under the symbol "MFI". The Canada Packers Common Shares commenced "regular way" trading on the TSX on Oct. 2 under the symbol "CPKR". MLF Shareholders are advised that they may receive their Canada Packers Common Shares (whether in their brokerage account or in the form of a DRS advice, as applicable) at a later date, depending on the manner in which they hold their MLF Common Shares. Estimated proportionate allocation of adjusted cost base between MLF Common Shares and Canada Packers Common Shares is expected to be posted on the MLF and Canada Packers websites when available during the fourth quarter of 2025.