Clearwater Seafoods Incorporated announced that it has delivered notices of conditional full redemption to the holders of all of the outstanding 6.875% Senior Notes due 2025 (the "Notes") in connection with the plan of arrangement (the "Arrangement") by and between 12385104 Canada Inc. (the "Purchaser") and the Company, pursuant to which the Purchaser, a company equally owned by Premium Brands Holdings Corporation and FNC Holdings Limited Partnership, will acquire all of the issued and outstanding shares in the share capital of the Company. Subject to the satisfaction or waiver of the conditions precedent described below, the Notes will be redeemed (the "Redemption") on February 12, 2021 (the "Redemption Date"). The redemption price per $1,000 principal amount of Notes is $1,051.56 plus accrued and unpaid interest from November 1, 2020 to, but not including, the Redemption Date (the "Redemption Price").