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SunOpta Provides Ongoing Update On Activities Related to 2007 Earnings Results

May 01,2008

TORONTO, May 1, 2008 (PrimeNewswire via COMTEX News Network) -- SunOpta Inc. (Nasdaq:STKL) (TSX:SOY) today provided its bi-weekly update on the status of activities relating to the write-downs in the SunOpta Fruit Group, the delay in the filing of its Annual Report 10-K for the year ended December 31, 2007, the potential impact on previously issued 2007 quarterly financial statements and actions being taken to address the issues identified.

As previously detailed, a notice was received from The Nasdaq Stock Market on April 2, 2008 advising that the Company was not in compliance with Nasdaq Marketplace Rules as a result of the delay in the filing of its Annual Report. The Company has appealed this notice and will meet with the Nasdaq Listing Qualification Panel on May 8, 2008 to discuss the steps the Company is taking to remedy the delay and have the panel render a decision regarding the continued listing of the shares.

The Company reported that it was maintaining steady progress with both its 2007 year end analysis and related investigative procedures, as well as the investigation being conducted by the Company's Audit Committee, with assistance from independent counsel and accountants. The Company further confirmed its ongoing and steady progress in the assessment and implementation of a series of actions within the berry operations required to address the root causes of issues identified to date that may have led to the write-down, and which are expected to result in improved business processes within the operating unit.

The Company continues to execute on ongoing business development and strategic initiatives, as evidenced by the introduction of a new single serve chocolate soymilk product for a major global retailer, the expansion of aseptic packaging and soybase processing capabilities, investment in a natural and organic oil refining facility in Colorado, the completion of the acquisition of Tradin Organic Agriculture of Amsterdam which significantly expands the Company's global organic ingredients sourcing platform, and the ongoing expansion activities within the SunOpta Distribution Group which is now positioned as the leading integrated distributor of natural, organic and specialty foods in Canada with approximately $250 million in revenues.

On April 24, 2008 the Company announced the appointment of Mr. Tony Tavares as Vice President and Chief Operating Officer, effective June 1, 2008. Mr. Tavares brings over 20 years of extensive food industry experience to the Company and will be a valuable addition as the Company focuses on maximizing its core strategic strengths and driving improved profitability and return on equity.

There is no other material information concerning the affairs of the Company at this time that has not been generally disclosed.

About SunOpta Inc.

SunOpta Inc. is an operator of high-growth ethical businesses, focusing on integrated business models in the natural and organic food, supplements and health and beauty markets. The Company has three business units: the SunOpta Food Group, which specializes in sourcing, processing and distribution of natural and organic food products integrated from seed through packaged products; Opta Minerals Inc. (TSX:OPM) (66.7% owned by SunOpta), a producer, distributor, and recycler of environmentally friendly industrial materials; and the SunOpta BioProcess Inc. which engineers and markets proprietary steam explosion technology systems for the pulp, bio-fuel and food processing industries. Each of these business units has proprietary products and services that give it a solid competitive advantage in its sector.

The SunOpta Inc. logo is available at

Forward-Looking Statements

Certain statements included in this press release may constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to references to expected financial results, business strategies, competitive strengths, goals, capital expenditure plans, business and operational growth plans and references to the future growth of the business. These forward-looking statements are based on certain assumptions and analyses made by the Company in light of its experience and its interpretation of current conditions, historical trends and expected future developments as well as other factors that the Company believes are appropriate in the circumstance. However, whether actual results and developments will agree with expectations and predications of the Company is subject to many risks and uncertainties including, but not limited to final 2007 financial results, the Company's ability to address inventory issues in its berry operations, the outcome of any pending litigation; general economic, business or market risk conditions; competitive actions by other companies; changes in laws or regulations or policies of local governments, provinces and states as well as the governments of United States and Canada, many of which are beyond the control of the Company. 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.

This news release was distributed by PrimeNewswire,

SOURCE: SunOpta Inc.

SunOpta Inc. 
          Jeremy N. Kendall, Chairman
          Steve Bromley, President & CEO
          Joseph Riz, Executive Vice President
          John Dietrich, Vice President & CFO
          Susan Wiekenkamp, Information Officer
            905-455-2528, ext 103

          Lytham Partners, LLC
          Investment Community Inquiries:
          Joe Diaz
          Robert Blum
          Joe Dorame

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