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Arctic Glacier Problems Default Standing File Pursuant to Nationwide Coverage 12-203


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WINNIPEG, Manitoba, Might 13, 2022 (GLOBE NEWSWIRE) — Arctic Glacier Source of revenue Fund (CSE: AG.UN) (the “Fund”) is offering a default standing document, in keeping with the opposite data tips set out in Nationwide Coverage 12-203 Stop Business Orders for Steady Disclosure Defaults (“Nationwide Coverage 12-203”).

On August 15, 2012, the Fund introduced (the “Default Announcement”) that it will now not be capable to record an meantime monetary document and meantime control’s dialogue and research for the duration ended June 30, 2012, along side the comparable certification of filings below Nationwide Device 52-109 Certification of Disclosure in Issuers’ Annual and Meantime Filings (jointly, the “Steady Disclosure Paperwork”) through August 29, 2012, the cut-off date prescribed through securities law (the “Specified Requirement”).

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With the exception of as mentioned beneath, there were no subject matter adjustments to the ideas contained within the Default Announcement or every other adjustments required to be disclosed below Nationwide Coverage 12-203.

On March 14, 2022, the Fund’s court-appointed observe notified the Manitoba Courtroom of Queen’s Bench that Alberta Finance has issued the closing final required clearance certificates, specifically the clearance certificates for AGI CCAA Inc. It’s the present aim of the trustees of the Fund to hunt to wind-up and dissolve the Fund upon the delight of sure prerequisites together with, however now not restricted to, ultimate distribution of the money belongings of the Fund and termination of its Corporations’ Collectors Association Act (“CCAA”) lawsuits. There will also be no ensure that those final prerequisites will probably be glad. The Fund will handiest record the Steady Disclosure Paperwork if required through the Manitoba Courtroom of Queen’s Bench pursuant to the Fund’s CCAA lawsuits. On the other hand, the Fund intends to proceed to record bi-weekly default standing experiences containing the opposite data required through Nationwide Coverage 12-203.

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

Ahead-Having a look Statements

Sure statements incorporated herein represent “forward-looking statements”. All statements, rather than statements of ancient truth, incorporated on this liberate that deal with long run actions, occasions, traits or monetary efficiency are forward-looking statements. Those forward-looking statements will also be recognized by means of forward-looking phrases corresponding to “might”, “will have to”, “will”, “may just”, “be expecting”, “intend”, “plan”, “estimate”, “look ahead to”, “consider”, “long run” or “proceed” or the adverse thereof or identical permutations. Particularly, statements concerning the Fund’s intentions to meet the provisions of the opposite data tips and record data with the acceptable securities regulatory government, in addition to statements concerning the aim of the Fund’s trustees to terminate the Fund. Those forward-looking statements are in accordance with sure assumptions and analyses made through the Fund and its control, in gentle in their reviews and their belief of ancient developments, present prerequisites and anticipated long run traits, in addition to different elements they consider are suitable within the instances. Buyers are cautioned to not put undue reliance on such forward-looking statements, which aren’t a ensure of efficiency and are topic to numerous uncertainties, assumptions and different elements, lots of which can be outdoor the keep an eye on of the Fund, which might purpose exact effects to vary materially from the ones expressed or implied through such forward-looking statements. Vital elements that might purpose exact effects to vary materially from the ones expressed or implied through such forward-looking statements come with, amongst different issues, the CCAA procedure and the Fund’s skill to safe enough assets to arrange the Steady Disclosure Paperwork and its skill to procure clearance certificate from Canadian regulators and fulfill the prerequisites to the termination of the Fund. Readers are cautioned that the foregoing listing isn’t exhaustive. Such forward-looking statements will have to, subsequently, be construed in gentle of such elements. If any of those dangers or uncertainties had been to materialize, or if the criteria and assumptions underlying the forward-looking data had been to turn out mistaken, exact effects may just range materially from the ones which are expressed or implied through the forward-looking data contained herein. All forward-looking statements as a consequence of the Fund, or individuals performing on its behalf, are expressly certified of their entirety through the cautionary statements set forth above. Readers are cautioned to not position undue reliance on forward-looking statements contained herein, which replicate the research of the control of the Fund, as suitable, handiest as of the date of this liberate. For more info referring to those and different dangers, readers will have to seek the advice of the Fund’s experiences on record with acceptable securities regulatory government out there on-line through going to SEDAR at www.sedar.com or through going to the web site of its Courtroom-appointed observe at http://www.alvarezandmarsal.com/arctic-glacier-income-fund-arctic-glacier-inc-and-subsidiaries. The Fund is below no legal responsibility, and Fund expressly disclaims any aim or legal responsibility, to replace or revise any forward-looking statements, whether or not because of new data, long run occasions or in a different way, aside from as required through acceptable legislation.

Concerning the Fund

Arctic Glacier Source of revenue Fund consider devices are indexed at the Canadian Securities Alternate below the buying and selling image AG.UN. There are 350.3 million consider devices remarkable.

Touch:

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

Adam Rock
Spouse
p +1 403 536 0025
c +1 403 975 6976
arock@linmac.com



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