VANCOUVER, BRITISH COLUMBIA--Premium Brands Inc. (TSE: FFF - news) announced today that Crown Investments Corporation of Saskatchewan ("CIC") has purchased 1.25 million treasury common shares in Premium Brands Inc. at a price of $12.00 per share. The proceeds from the issue will be used for the repayment of debt and for general corporate purposes. Premium Brands also announced that John Hicke, Director, Investments with CIC, has joined its Board of Directors.