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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


FORM 6-K


REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934


For January, 2003


Big Rock Brewery Ltd.


5555 – 76 Avenue SE, Calgary, AB T2C 4L8


Indicate whether the registrant files or will file annual reports under cover of 
Form 20-F or Form 40-F


Form 20-F   [X]                 Form 40-F     [  ]


Indicate whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information  to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.


Yes     [  ]                    No     [X]










090103130103/15040941/一97


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BIG ROCK BREWERY LTD.

N E W S   R E L E A S E


BIG ROCK ANNOUNCES SHAREHOLDERCOMPLETION AND COURT APPROVALS
OF REORGANIZATION INTO AN INCOME TRUST
CALGARY, ALBERTA, JANUARY 8 10, 2003 – Big Rock Brewery Ltd. (TSX: BR, NASDAQ: BEER) ("Big Rock" or the "Company") isand Big Rock Brewery Income Trust (TSX: BR.UN) (the "Trust") are pleased to announce thatthe atcompletion itseffective SpecialJanuary Meeting10, 2003 of Shareholdersthe andplan Optionholdersof heldarrangement this(the morning,"Arrangement") shareholderswhereby andBig optionholdersRock overwhelminglyBrewery approvedLtd. reorganizinghas thebeen Companyreorganized into Big Rock Brewery Income Trust.  The (Trust, indirectly through its operating entities, will continue to operate Big Rock's premium brewing business and all of the "former securityholders of Big Rock hold all of the outstanding trust units of the Trust"). The unitholders of the Trust are entitled to receive cash distributions paid by the Trust and will be entitled to one vote for each trust unit held at unitholder meetings.
AUnder finalthe orderterms of the CourtArrangement, shareholders of Queen'sBig BenchRock ofreceived Albertaone wastrust issuedunit thisof afternoonthe approvingTrust Bigfor Rock'severy plancommon ofshare arrangementheld.  TheAs reorganizationwell, willholders beof effectiveoptions atto thepurchase closingcommon ofshares thewere transactionentitled scheduled to bereceive heldeither: on(i) orthe aboutin-the-money January 10,value 2003.  Theof trusttheir unitsoptions ofpayable thein Trust areUnits; anticipatedor to(ii) commencereplacement tradingTrust onUnit theoptions Torontoin Stockexchange Exchangefor undertheir Big Rock options on the symbolsame "BR.UN"terms withinas atheir fewBig daysRock thereafteroptions.  ThePursuant to the Arrangement, an aggregate of 5,536,724 trust units willof notthe beTrust listedand foran tradingaggregate onof the299,600 NASDAQtrust systemunit options were issued.
CorporateThe Profilereorganization of Big Rock into an income trust is the culmination of a process initiated by Big Rock's Board of Directors to explore alternatives for Big Rock to provide regular cash distributions to its shareholders while maintaining the ability to pursue growth opportunities. After reviewing projected revenues, profits and capital expenditure requirements for 2003, the Board of Big Rock has approved a distribution policy wherein the current intention of the Trust is to pay its unitholders an annual distribution of $0.72 per unit ($0.06 per month). The Board believes that that Big Rock will be able to sustain this payout schedule during 2003 while retaining sufficient funds for normal budgeted expenditures as well as a reasonable reserve. The initial distribution by the Trust will be paid on February 15, 2003 to unitholders of record on January 31, 2003 and will be $0.04 per unit reflecting the period from January 11, 2003 to January 31, 2003.
The distribution policy for 2003 is also based on the current rates for both the federal excise tax and the Alberta government markup on beer sales.  The Board of Directors of Big Rock has been advised that the Province of Alberta is currently reviewing its markup rates on beer sales and management expects that the provincial government will announce its decision in February 2003.  An increase in the Alberta markup rate applicable to small breweries could have a negative impact on the amount available for distribution.
The trust units of the Trust are expected to commence trading on the Toronto Stock Exchange under the symbol "BR.UN" on or about January 16, 2003.  The trust units will not be listed for trading on the NASDAQ system.  Certificates for common shares of the Company will represent trust units of the Trust issued pursuant to the Arrangement until deposited in exchange for certificates representing trust units of the Trust.
The Trust is an unincorporated open-ended limited purpose trust established under the laws of the Province of Alberta.  The Trust owns all of the securities of Big Rock which entitles the Trust to receive all cash flow available for distribution from the business of Big Rock, after debt service payments, maintenance capital expenditures and other cash requirements.  
Big Rock is a regional producer and marketer of premium quality beers, headquartered in Calgary, Alberta, Canada.  Big Rock's products are available in draught, bottles and cans.  Big Rock also produces or distributes Cider and Cooler products.  Big Rock is committed to four business fundamentals:


•
consistently brewing distinctive, premium quality beers;
•
profitable growth in business operations;
•
constantly providing superior, personalized customer services; and
•
creating and sustaining strong community relationships.
Big Rock products are marketed in five provinces and three territories in Canada and in the United States.
For further information please contact:


Ed McNally Chairman Big Rock Brewery Ltd. Phone: (403) 720-3239 Fax: (403) 236-7523 Tim A. Duffin, C.A. Chief Financial Officer Big Rock Brewery Ltd. Phone: (403) 720-44733239 Fax: (403) 236-7523


















090103130103/15040941/一97
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