Sun-Rype completes Plan of Arrangement

TSX:  SRF

KELOWNA, BC, Sept. 30, 2013 /CNW/ - Sun-Rype Products Ltd. (TSX:SRF) ("Sun-Rype" or the "Company") is pleased to announce that SRF Acquisition Inc. ("SRF") has acquired all of the issued and outstanding common shares of Sun-Rype (the "Sun-Rype Shares") pursuant to the previously announced plan of arrangement among the Company, SRF and Great Pacific Industries Inc. (the "Arrangement"). The Arrangement received final court approval on September 26, 2013.

Under the Arrangement, each Sun-Rype Share outstanding immediately prior to the Effective Time of the Arrangement was deemed transferred to SRF.  Each shareholder whose Sun-Rype Shares were so transferred (each, a "Shareholder") is entitled to receive from SRF a cash payment of $7.50 per Sun-Rype Share (the "Cash Consideration").

In order to receive the Cash Consideration, registered Shareholders must deliver a properly completed letter of transmittal (the "Letter of Transmittal") and certificate(s) representing their Sun-Rype Shares, along with any other required documents, to Valiant Trust Company ("Valiant") at the address specified in the Letter of Transmittal. The Letter of Transmittal was mailed to the registered Shareholders along with the management information circular dated August 20, 2013 (the "Circular") and is also available under Sun-Rype's profile on SEDAR at www.sedar.com or by contacting Valiant directly. The Letter of Transmittal is for use by Registered Shareholders only and is not to be used by non-registered beneficial holders of Sun-Rype Shares (the "Beneficial Shareholders"). A Beneficial Shareholder does not hold Sun-Rype Shares in its own name and such shares are held by an intermediary. If you are a Beneficial Shareholder you should contact your intermediary for instructions and assistance.

For further details of the Arrangement and the process for receipt by a Shareholder of the Cash Consideration, please see the Circular, which is available on SEDAR at www.sedar.com.

In connection with the Arrangement, Sun-Rype has applied for the delisting of the Sun-Rype Shares from the TSX and will apply to the applicable securities regulatory authorities to cease to be a reporting issuer under Canadian securities laws.

About the Company

Sun-Rype Products Ltd., based in Kelowna, BC, is a manufacturer and marketer of fruit-based juices and snacks.

Forward Looking Statements

Statements contained in this press release, which are not based on historical fact, including without limitation, statements containing the words "may", "will", "plans", "intends", "expects", "anticipates", "believes", "estimate", "continue" and similar expressions, constitute "forward looking information" within the meaning of applicable Canadian securities laws.  Forward looking statements contained in this document may involve, but are not limited to, statements relating to the Company ceasing to be a reporting issuer, the delisting of the Sun-Rype Shares from the TSX and the Company's objectives, priorities, strategies, actions, targets, expectations and outlook.  Forward looking statements are necessarily based upon assumptions and predictions with respect to the future, including but not limited to the factors referred to below.  As a result, forward looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied thereby.  These risks, uncertainties and other factors include, but are not limited to, changes in the consumer packaged goods industry and external market factors, as well as the factors referred to in the Company's Annual Information Form dated March 6, 2013, and its other filings with the applicable Canadian securities regulatory authorities.  In light of these uncertainties, assumptions and risks, readers are cautioned not to place undue reliance on such forward looking statements.  Except as required by law, the Company assumes no obligation to update or revise such information to reflect later events or developments.

SOURCE: Sun-Rype Products Ltd.

Amanda Burns, CA 
Vice President, Finance & CFO
Sun-Rype Products Ltd.
1165 Ethel Street
Kelowna, BC  V1Y 2W4
Tel:  [phone]
Fax: [phone]
[email protected]

or

Dave McAnerney
President & Chief Executive Officer
Sun-Rype Products Ltd.
1165 Ethel Street
Kelowna, BC  V1Y 2W4
Tel: [phone]
Fax: [phone]
[email protected]

www.sunrype.com