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Summary of Clearly Canadian Special General Meeting.

VANCOUVER, British Columbia -- CLEARLY CANADIAN BEVERAGE CORPORATION (OTCBB:CCBEF) held its special general meeting of shareholders on March 16, 2005 in Vancouver, Canada. The Company is pleased to report that both of the resolutions put forth at the meeting were favorably passed by a substantial majority of the disinterested shareholders who voted at the meeting. In that respect, the Company will create a new class of preferred shares of unlimited number to be designated in the Articles of the Company as Variable Multiple Voting Shares. In conjunction with the creation of the new class of preferred shares, the common shares of the Company will be re-designated in the Articles of the Company as Limited Voting Shares.

The Company's purpose in creating the new preferred shares is to provide an incentive to the Company's majority shareholder, BG Capital Group Ltd. ("BG"), to now convert its Class B preferred shares of the Company into eight million common shares, which BG has agreed to do. This is substantially fewer than the number of common shares BG would have been entitled to receive upon conversion of its Class B preferred shares at a later date.

As consideration for receiving fewer common shares than it would have been entitled to, the Company will issue to BG such number of the new preferred shares as will, at the conversion date, give to BG a number of votes equal to 50 per cent of the then issued and outstanding common shares of the Company (as adjusted to account for the conversion shares).

About Clearly Canadian

Based in Vancouver, B.C., Clearly Canadian Beverage Corporation markets premium alternative beverages and products, including Clearly Canadian(R) sparkling flavoured water and Clearly Canadian O+2(R) oxygen enhanced water beverage which are distributed in the United States, Canada and various other countries. Since its inception, the Clearly Canadian brand has sold over 90 million cases equating to over 2 billion bottles worldwide. Additional information about Clearly Canadian may be obtained at www.clearly.ca.

CLEARLY CANADIAN BEVERAGE CORPORATION

Brent Lokash, President

CLEARLY CANADIAN BEVERAGE CORPORATION is the registered holder of various trademarks, including CLEARLY CANADIAN(R). CLEARLY CANADIAN BEVERAGE CORPORATION, and its wholly owned subsidiaries, produce, distribute and market CLEARLY CANADIAN(R) and CANADIAN O+2(R).

Clearly Canadian Beverage Corporation (OTC Bulletin Board:CCBEF)
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Publication:Business Wire
Date:Mar 27, 2006
Words:385
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