Clearwater reports roll-out of value added product

/NOT FOR DISTRIBUTION TO UNITED STATES OR FOR DISSEMINATION IN THE UNITED STATES/

HALIFAX, April 17, 2012 /CNW/ – (TSX: CLR CLR.DB.B CLR.DB.A):

Today, Clearwater Seafoods Incorporated (“Clearwater”) reported the continued roll-out of a new bacon-wrapped scallop product in North America to major retailers and food service customers.

Mr. Greg Morency, Clearwater’s Chief Commercial Officer commented “the rollout of bacon wrapped scallops is consistent with Clearwater’s strategy to strengthen our competitive and differentiated value proposition through targeting profitable and growing markets, channels and customers as well as innovating and positioning our products to deliver superior customer satisfaction and value.”

Mr. Morency continued “The value of Clearwater’s premium seafood is primarily differentiated on the dimensions of taste, nutrition, quality, safety, sustainability. Clearwater is also well known in the industry for enhancing this product positioning through its pioneering and innovative harvesting technologies and its primary processing practices. This product wraps Clearwater’s MSC certified Canadian Sea Scallops in delicious, naturally smoked bacon to offer the perfect appetizer in an easier-than-ever format. Convenient, cost effective and delectable, Clearwater Bacon Wrapped Scallops are an ideal addition to any menu.”

Mr. Morency concluded “Going forward, Clearwater will continue to lever its strengths and its vertical integration to win in existing segments while capturing a growing share of the seafood value chain through the introduction of value-added new products in core species. Bacon-wrapped, MSC-certified, Wild Canadian Sea Scallops produced in Clearwater’s own Lockeport, Nova Scotia processing operation are a great example of enhancing the value of our products and other products are being readied for launch later in 2012 and beyond.”

COMMENTARY REGARDING FORWARD-LOOKING STATEMENTS

This news release may contain forward-looking statements. Such statements involve known and unknown risks, uncertainties, and other factors outside management’s control including, but not limited to, total allowable catch levels, selling prices, weather, exchange rates, fuel and other input costs that could cause actual results to differ materially from those expressed in the forward-looking statements. Clearwater does not undertake any obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances other than as required under applicable securities laws.

About Clearwater

Clearwater is recognized for its consistent quality, wide diversity and reliable delivery of premium wild, eco-labelled seafood, including scallops, lobster, clams, coldwater shrimp, crab and groundfish.

Since its founding in 1976, Clearwater has invested in science, people, technology, resource ownership and resource management to sustain and grow its seafood resource. This commitment has allowed it to remain a leader in the global seafood market.

Image with caption: “Clearwater MSC Certified Canadian Scallops Wrapped in Naturally Smoked Bacon (CNW Group/CLEARWATER SEAFOODS INCORPORATED)”. Image available at: http://photos.newswire.ca/images/download/20120417_C6232_PHOTO_EN_12401.jpg