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## Entity with significant influence over the Company 

As at December 28, 2013, Thornridge Holdings Limited owns 37.7% of the outstanding common shares in High Liner Foods Inc. (December 29, 2012: 38.1% of outstanding common shares). 

## Other related parties 

Crystal Cold Storage & Warehousing Inc. provides a cold storage facility for the Company to which the Company pays a market-based price for the products stored. 

Pier 17 Realty Trust Inc. is the lessor in the lease contract for the Company’s processing plant in Malden, MA where the Company pays market-based rent. 

## Joint venture in which the Company is a venturer 

In February 2013, the Company sold its 50% interest in its joint venture HighKan Holdings Limited (note 7), a holding company with an 80% interest in Dencan Seafood Limited. Prior to sale, the Company regularly purchased raw materials and finished goods from Dencan Seafood Limited and used the raw materials in production for sale to its customers. 

The aggregate value of transactions and outstanding balances with related parties were as follows: 

<img src='content_image/263651.jpg'>

In February 2013, the Company sold its 50% ownership in High Kan Holdings that owned 80% of Dencan Seafoods Ltd.; therefore, transactions reflected in 2013 are up to the point of sale. 

The Company had no sales to or amounts due from related parties throughout 2012 or 2013, nor did the Company have any transactions during 2012 or 2013 with entities who had significant influence over the Company or with members of key management personnel including the Company’s Directors and their related interests. 

All outstanding balances with these related parties are priced on an arm’s length basis and are to be settled in cash within 12 months of the reporting date. None of the balances are secured. There have been no guarantees provided or received for any related party payables. 

## NOTE 22 Financial instruments 

<img src='content_image/263650.jpg'>

