Arctic Glacier Points Default Standing Report Pursuant To Nationwide Coverage 12-203

Date:


Article content material

WINNIPEG, Manitoba, Jan. 31, 2022 (GLOBE NEWSWIRE) — Arctic Glacier Earnings Fund (CSE: AG.UN) (the “Fund”) is offering a default standing report, in accordance with the choice info tips set out in Nationwide Coverage 12-203 Stop Commerce Orders for Steady Disclosure Defaults (“Nationwide Coverage 12-203”).

On August 15, 2012, the Fund introduced (the “Default Announcement”) that it could not be capable to file an interim monetary report and interim administration’s dialogue and evaluation for the interval ended June 30, 2012, along with the associated certification of filings beneath Nationwide Instrument 52-109 Certification of Disclosure in Issuers’ Annual and Interim Filings (collectively, the “Steady Disclosure Paperwork”) by August 29, 2012, the deadline prescribed by securities laws (the “Specified Requirement”).

Article content material

Besides as mentioned beneath, there have been no materials modifications to the data contained within the Default Announcement or another modifications required to be disclosed beneath Nationwide Coverage 12-203.

It’s the present intention of the trustees of the Fund to hunt to wind-up and dissolve the Fund upon the satisfaction of sure situations together with, however not restricted to, receipt of a clearance certificates from CRA, closing distribution of the money property of the Fund and termination of its Corporations’ Collectors Association Act (“CCAA”) proceedings. There may be no assure that these situations shall be happy. The Fund will solely file the Steady Disclosure Paperwork if required by the Manitoba Courtroom of Queen’s Bench pursuant to the Fund’s CCAA proceedings. Nevertheless, the Fund intends to proceed to file bi-weekly default standing stories containing the choice info required by Nationwide Coverage 12-203.

Article content material

Extra details about the Fund’s CCAA proceedings and plan of compromise and association may be discovered on the web site of its Courtroom-appointed monitor at http://www.alvarezandmarsal.com/arctic-glacier-income-fund-arctic-glacier-inc-and-subsidiaries .

Ahead-Trying Statements

Sure statements included herein represent “forward-looking statements”. All statements, apart from statements of historic reality, included on this launch that handle future actions, occasions, developments or monetary efficiency are forward-looking statements. These forward-looking statements may be recognized by means of forward-looking phrases equivalent to “might”, “ought to”, “will”, “might”, “anticipate”, “intend”, “plan”, “estimate”, “anticipate”, “imagine”, “future” or “proceed” or the adverse thereof or related variations. Specifically, statements in regards to the Fund’s intentions to fulfill the provisions of the choice info tips and file info with the relevant securities regulatory authorities, in addition to statements in regards to the intention of the Fund’s trustees to terminate the Fund. These forward-looking statements are primarily based on sure assumptions and analyses made by the Fund and its administration, in gentle of their experiences and their notion of historic tendencies, present situations and anticipated future developments, in addition to different elements they imagine are acceptable within the circumstances. Buyers are cautioned to not put undue reliance on such forward-looking statements, which aren’t a assure of efficiency and are topic to quite a few uncertainties, assumptions and different elements, a lot of that are exterior the management of the Fund, which might trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements. Vital elements that would trigger precise outcomes to vary materially from these expressed or implied by such forward-looking statements embody, amongst different issues, the CCAA course of and the Fund’s capability to safe enough assets to arrange the Steady Disclosure Paperwork and its capability to acquire clearance certificates from Canadian regulators and fulfill the situations to the termination of the Fund. Readers are cautioned that the foregoing checklist will not be exhaustive. Such forward-looking statements ought to, due to this fact, be construed in gentle of such elements. If any of those dangers or uncertainties had been to materialize, or if the elements and assumptions underlying the forward-looking info had been to show incorrect, precise outcomes might range materially from these which can be expressed or implied by the forward-looking info contained herein. All forward-looking statements attributable to the Fund, or individuals appearing on its behalf, are expressly certified of their entirety by the cautionary statements set forth above. Readers are cautioned to not place undue reliance on forward-looking statements contained herein, which replicate the evaluation of the administration of the Fund, as acceptable, solely as of the date of this launch. For extra info relating to these and different dangers, readers ought to seek the advice of the Fund’s stories on file with relevant securities regulatory authorities accessible on-line by going to SEDAR at www.sedar.com or by going to the web site of its Courtroom-appointed monitor at http://www.alvarezandmarsal.com/arctic-glacier-income-fund-arctic-glacier-inc-and-subsidiaries . The Fund is beneath no obligation, and Fund expressly disclaims any intention or obligation, to replace or revise any forward-looking statements, whether or not on account of new info, future occasions or in any other case, besides as required by relevant regulation.

Concerning the Fund

Arctic Glacier Earnings Fund belief items are listed on the Canadian Securities Trade beneath the buying and selling image AG.UN. There are 350.3 million belief items excellent.

Contact:

Hugh Adams
Direct: 204-925-5391
hadams@darcydeacon.com

Adam Rock
Companion
p: 403-536-0025
c: 403-975-6976
arock@linmac.com  

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Share post:

Popular

More like this
Related