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Canbra Foods announces adjournment of meeting.

LETHBRIDGE, ALBERTA--(BUSINESS WIRE)--Nov. 26, 1996--Canbra Foods Ltd. (TSE CBF.) Canbra Foods Ltd. ("Canbra") today announced the further adjournment of the special meeting of shareholders originally scheduled to be held on Monday, November 25, 1996 and adjourned to Wednesday, November 27, 1996. The meeting was called for the purposes of considering, among other things, a special resolution (the "Special Resolution") approving a Plan of Arrangement and the entering into of an Arrangement Agreement among Canbra, Pocklington Financial (1996) Corporation ("PFC"), and certain subsidiaries of PFC. The meeting is now scheduled to be held at 10:00 a.m. on Monday, December 16, 1996 at Ericksen's Family Restaurant, 1715 Mayor Magrath Drive South, Lethbridge, Alberta.

The purpose of the further adjournment is to permit the parties to the Arrangement Agreement and Plan of Arrangement to consider additional amendments to those documents. The nature of the amendments when approved by the parties to the Arrangement Agreement may require further direction from the Court of Queen's Bench concerning notice to shareholders. If such further direction is required and obtained from the Court, further information will be released to shareholders describing those amendments in the manner ordered by the Court. Shareholders continue to retain the right to revoke prior proxies and file new proxies at any time up to the commencement of the special meeting of shareholders in accordance with the procedure set forth in the Management Information Circular accompanying notice of the meeting.

The Board of Directors of Canbra has unanimously recommended that the shareholders vote for the Special Resolution.

The application to be made before the Court of Queen's Bench of Alberta for the final order approving the Plan of Arrangement, that was adjourned to Wednesday, November 27, 1996 at the hour of 2:00 p.m. at the Law Courts Building in Edmonton, Alberta has been further adjourned to Tuesday, December 17, 1996 at the same time and place.

Canbra Foods Ltd. is one of Canada's oldest and largest fully-integrated oilseed crushing, refining, processing and packaging operations, employing 250 people at its Lethbridge, Alberta facility. Its common shares are listed on The Toronto Stock Exchange.

CONTACT: Canbra Foods Ltd.

Keith Beerling, 403/329-5573

or

Pocklington Financial (1996) Corporation

John Barr, 604/488-1100
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Publication:Business Wire
Date:Nov 26, 1996
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