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WINNIPEG, Manitoba, Feb. 14, 2022 (GLOBE NEWSWIRE) — Arctic Glacier Earnings Fund (CSE: AG.UN) (the “Fund”) is offering a default standing report, in accordance with the choice data pointers 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 will not be capable of 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 underneath 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”).
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Besides as mentioned beneath, there have been no materials adjustments to the knowledge contained within the Default Announcement or some other adjustments required to be disclosed underneath 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, remaining 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 will likely be happy. The Fund will solely file the Steady Disclosure Paperwork if required by the Manitoba Court docket of Queen’s Bench pursuant to the Fund’s CCAA proceedings. Nevertheless, the Fund intends to proceed to file bi-weekly default standing studies containing the choice data required by Nationwide Coverage 12-203.
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Extra details about the Fund’s CCAA proceedings and plan of compromise and association may be discovered on the web site of its Court docket-appointed monitor at http://www.alvarezandmarsal.com/arctic-glacier-income-fund-arctic-glacier-inc-and-subsidiaries.
Ahead-Wanting Statements
Sure statements included herein represent “forward-looking statements”. All statements, apart from statements of historic truth, included on this launch that tackle future actions, occasions, developments or monetary efficiency are forward-looking statements. These forward-looking statements may be recognized by way of forward-looking phrases resembling “could”, “ought to”, “will”, “might”, “count on”, “intend”, “plan”, “estimate”, “anticipate”, “imagine”, “future” or “proceed” or the destructive thereof or comparable variations. Specifically, statements concerning the Fund’s intentions to fulfill the provisions of the choice data pointers and file data with the relevant securities regulatory authorities, in addition to statements concerning 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 components they imagine are applicable within the circumstances. Traders 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 components, 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 components 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 skill to safe enough assets to arrange the Steady Disclosure Paperwork and its skill 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, subsequently, be construed in gentle of such components. If any of those dangers or uncertainties had been to materialize, or if the components and assumptions underlying the forward-looking data had been to show incorrect, precise outcomes might fluctuate materially from these which can be expressed or implied by the forward-looking data 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 mirror the evaluation of the administration of the Fund, as applicable, solely as of the date of this launch. For extra data concerning these and different dangers, readers ought to seek the advice of the Fund’s studies 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 Court docket-appointed monitor at http://www.alvarezandmarsal.com/arctic-glacier-income-fund-arctic-glacier-inc-and-subsidiaries. The Fund is underneath 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 data, future occasions or in any other case, besides as required by relevant regulation.
In regards to the Fund
Arctic Glacier Earnings Fund belief items are listed on the Canadian Securities Change underneath 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
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