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SunOpta Completes Expansion of European Credit Facility

October 15,2014

TORONTO, Oct. 15, 2014 (GLOBE NEWSWIRE) -- SunOpta Inc. (Nasdaq:STKL) (TSX:SOY), a leading global company focused on natural, organic and specialty foods, announced today that its wholly owned subsidiary The Organic Corporation B.V. ("TOC"), based in the Netherlands, has entered into a Multi-Purpose Facilities Agreement ("Club Facility") to increase the debt capacity of SunOpta's rapidly growing international sourcing operations which form part of the Global Sourcing and Supply segment.

"The expanded Club Facility will provide additional liquidity for our growing global sourcing, supply and international processing operations, allowing us to capitalize on new opportunities as demand for organic and non-GMO raw materials and ingredients continues to grow around the globe. When it comes to sourcing organic raw materials and ingredients, our global reach is a strategically vital component and serves as the foundation for many of the integrated consumer packaged and value-added ingredient categories we compete in," said Rob McKeracher, Vice President and Chief Financial Officer of SunOpta. "When combined with strong cash flows and funds available within our North American syndicated credit facilities, we feel we are well positioned to fund future growth. The support from our lenders is a testament to the strength of our business model and our relationships continue to grow as we look to achieve our strategic and financial goals."

The Club Facility provides for a total of €92.5 million in available financing which includes a €80 million revolving credit facility covering working capital needs, a €5.0 million facility that will cover commodity hedging, a €5.0 million facility designated for letters of credit and a €2.5 million pre-settlement facility covering currency hedging requirements. The Club Facility was underwritten by ING Bank N.V., Rabobank (Cooperatieve Centrale Raiffeissen-Boerenleenbank B.A.), and Deutsche Bank AG, Amsterdam Branch (the "Lenders").

The new €80 million revolving credit facility replaces an existing €45 million credit facility and is secured by the working capital of the international sourcing and supply operations. Continued growth in demand for organic raw materials, in North America and internationally, led to the need for an increased credit facility. SunOpta's international sourcing operations intend to leverage the increased availability of funds to continue to expand the sourcing and value-added processing aspects of their portfolio. There is no set maturity to the Club Facility and the limit can be extended or adjusted based on the needs of the business based upon approval of the Lenders. Interest rates under the Club Facility are expected to be similar to the previous credit facility.

About SunOpta Inc.

SunOpta Inc. is a leading global company focused on natural, organic and specialty foods products. The company specializes in sourcing, processing and packaging of natural and organic food products, integrated from seed through packaged products; with a focus on strategically vertically integrated business models. The Company's core natural and organic food operations focus on value-added grains, fiber and fruit based product offerings, supported by a global infrastructure. The company has two non-core holdings, a 66.0% ownership position in Opta Minerals Inc., listed on the Toronto Stock Exchange, a producer, distributor, and recycler of environmentally friendly industrial materials; and a minority ownership position in Mascoma Corporation, an innovative biofuels company.

Forward-Looking Statements

Certain statements included in this press release may be considered "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation, which are based on information available to us on the date of this release. These forward-looking statements include, but are not limited to, our expectations regarding additional liquidity and that the demand for organic and non-GMO raw materials will continue to grow and our intention to leverage the increased availability of funds to expand certain aspects of our international sourcing operations. Terms and phrases such as "will", "allowing", "continues", "intend", "expected" and other similar terms and phrases are intended to identify these forward looking statements. Forward looking statements are based on information available to us on the date of this release and are based on estimates and assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments as well as other factors the Company believes are appropriate in the circumstances. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Whether actual timing and results will agree with expectations and predications of the Company is subject to many risks and uncertainties including adverse fluctuations in applicable reference rates, the risk of potential covenant breaches under the Club Facility and other factors that might limit or affect the expected benefits of improved borrowing rates and increased availability of funds, as well as other risks described from time to time under "Risk Factors" in the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q (available at www.sec.gov). 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.

The SunOpta Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3958

CONTACT: For further information, please contact:

         

         SunOpta Inc.

         www.sunopta.com

         

         Investor Relations

         Susan Wiekenkamp, Information Officer

         Tel:  905-455-2528, ext.103

         Susan.wiekenkamp@sunopta.com

         

         Public Relations

         Rob Litt, Director Global Communications

         Tel:  952-893-7863

         Rob.litt@sunopta.com

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