Premier Diversified Holdings Inc. and Russell Breweries Inc. jointly announced that the parties have reached an agreement with respect to Premier's formal takeover bid for up to 51% of the
outstanding common shares of Russell. The Board of Directors of Russell will be reconstituted to five members until Russell's 2015 annual meeting of shareholders to be held this fall. The Board will consist of three of Russell's current directors and two nominees of Premier, who will be immediately appointed, subject To Approve the TSX Venture Exchange. Premier anticipates that its nominees will be Sanjeev Parsad (current President and CEO of Premier) and Alnesh Mohan (current director of Premier). Mr. Parsad will be appointed to the Compensation Committee and Mr. Mohan will be appointed to the Audit Committee of the Board of Directors of Russell.