Edmonton, Alberta. Planet Organic Health Corp. (“Planet Organic”) – (TSX Venture Exchange – POH) announced today that it has obtained financing from Ares Capital Corporation to complete its acquisition of Mrs. Green’s Natural Market and to pursue future growth opportunities.
Ares Capital Corporation (NASDAQ: ARCC) is a specialty finance company that is a closed-end, non-diversified management investment company regulated as a business development company under the United States Investment Company Act of 1940. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. As of March 31, 2007, Ares Capital Corporation’s investment portfolio was $1.4 billion.
ARCC has an existing investment in Charter Baking, a leading producer and marketer of organic and natural breads and related baked goods in the U.S. Additionally, earlier this year, an affiliate of ARCC's investment advisor made a significant investment in GNC.
“This financing is a significant milestone for Planet Organic,” reports Darren Krissie, Planet Organic’s CFO, “this allows us the resources to continue our growth in North America beyond the Mrs Green’s Natural Market acquisition”.
ABOUT PLANET ORGANIC HEALTH CORP.
Planet Organic Health Corp. (TSX-V: POH), is a natural products industry company, comprising manufacturing, distribution and retail. Planet is listed on the TSX Venture Exchange as a Tier One company. Planet operates eight natural food supermarkets throughout Canada under the Planet Organic Market banner. The Company also operates 50 natural health outlets under the Sangster’s Health Centre banner and seven natural health outlets under the Healthy’s banner. Another POHC company, Trophic Canada is the country’s leading manufacturer of natural supplements. The Company has a total of 64 stores throughout Canada and 11 in the U.S.
For further information, please contact: Planet Organic Health Corp. Darren Krissie, Vice President Corporate Development, CFO
Tel: (780) 719-4667 Email: [email protected]
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Certain information included herein is forward-looking. Forward-looking statements include, without limitation, statements regarding the future financial position, business strategy, budgets, projected costs, capital expenditures, financial results, taxes and plans and objectives of or involving Planet. Many of these statements can be identified by looking for words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “anticipates”, “estimates”, “continues”. Planet Organic believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties some of which are described in Planet Organic’s continuous disclosure documents. Such forward-looking statements necessarily involve known and unknown risks and uncertainties and other factors, which may cause Planet Organic’s actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general economic, market and business conditions; industry capacity; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities including increases in taxes; changes in environmental and other regulations; and other factors, many of which are beyond the control of Planet Organic. Any forward-looking statements are made as of the date hereof and Planet Organic does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise.