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File: Default Status Report (Sept 19, 2014) (S0808368@xC4C08).pdf

 


           ARCTIC GLACIER ISSUES DEFAULT STATUS REPORT PURSUANT TO
                             NATIONAL POLICY 12-203

WINNIPEG �Sept 19, 2014 � Arctic Glacier Income Fund (CNSX: AG) (the "Fund") is
providing a default status report in accordance with the alternative information guidelines set out
in National Policy 12-203 Cease Trade Orders for Continuous Disclosure Defaults ("National
Policy 12-203").

On August 15, 2012, the Fund announced (the "Default Announcement") that it would not be
able to file an interim financial report and interim management's discussion and analysis for the
period ended June 30, 2012, together with the related certification of filings under National
Instrument 52-109 Certification of Disclosure in Issuers' Annual and Interim Filings
(collectively, the "Continuous Disclosure Documents") by August 29, 2012, the deadline
prescribed by securities legislation (the "Specified Requirement").

Except as discussed below, there have been no material changes to the information contained in
the Default Announcement or any other changes required to be disclosed under National Policy
12-203.

The Fund still intends to file the Continuous Disclosure Documents as soon as is commercially
reasonable, or as required by the Manitoba Court of Queen's Bench pursuant to the Fund's
Companies' Creditors Arrangement Act (the "CCAA") proceedings. More information about the
Arctic Glacier Parties' CCAA proceeding can be found on the website of its Court-appointed
monitor at http://www.alvarezandmarsal.com/arctic-glacier-income-fund-arctic-glacier-inc-and-
subsidiaries.



Forward-Looking Statements

Certain statements included herein constitute "forward-looking statements". All statements, other
than statements of historical fact, included in this release that address future activities, events,
developments or financial performance are forward-looking statements. These forward-looking
statements  can  be  identified  by  the  use  of  forwardlooking  words  such  as  "may",  "should",  "will", 
"could",  "expect",  "intend",  "plan",  "estimate",  "anticipate",  "believe",  "future"  or  "continue"  or  the 
negative thereof or similar variations. In particular, statements about the Fund's intentions to satisfy the 
provisions  of  the  alternative  information  guidelines  and  file  information  with  the  applicable  securities 
regulatory authorities, as well as the expected timetable for satisfying the Specified Requirement, are or 
involve  forwardlooking  information.  These  forwardlooking  statements  are  based  on  certain 
assumptions and analyses made by the  Fund and its management, in light of their experiences and their 
perception  of  historical  trends,  current  conditions  and  expected  future  developments,  as  well  as  other 
factors  they  believe  are  appropriate  in  the  circumstances.  Investors  are  cautioned  not  to  put  undue 
reliance on such forwardlooking statements, which are not a guarantee of performance and are subject 
to  a  number  of  uncertainties,  assumptions  and  other  factors,  many  of  which  are  outside  the  control  of 
the  Fund,  which  could  cause  actual  results  to  differ  materially  from  those  expressed  or  implied  by  suc
--->h 
forwardlooking  statements.  Important  factors  that  could  cause  actual  results  to  differ  materially  from 
those  expressed  or  implied  by  such  forwardlooking  statements  include,  among  other  things,  the  CCAA 


            
S0804009  V1                                                
  


process  and  the  Fund's  ability  to  secure  sufficient  resources  to  prepare  the  Continuous  Disclosure 
Documents.  Readers  are  cautioned  that  the  foregoing  list  is  not  exhaustive.  Such  forwardlooking 
statements  should,  therefore,  be  construed  in  light  of  such  factors.  If  any  of  these  risks  or  uncertai
--->nties 
were  to  materialize,  or  if  the  factors  and  assumptions  underlying  the  forwardlooking  information  were 
to  prove  incorrect,  actual  results  could  vary  materially  from  those  that  are  expressed  or  implied  by  t
--->he 
forwardlooking  information  contained  herein.  All  forwardlooking  statements  attributable  to  the  Fund, 
or  persons  acting  on  its  behalf,  are  expressly  qualified  in  their  entirety  by  the  cautionary  statements
--->  set 
forth  above.  Readers  are  cautioned  not  to  place  undue  reliance  on  forwardlooking  statements 
contained  herein,  which  reflect  the  analysis  of  the  management  of  the  Fund,  as  appropriate,  only  as  of
---> 
the  date  of  this  release.  For  more  information  regarding  these  and  other  risks,  readers  should  consult 
the  Fund's  reports  on  file  with  applicable  securities  regulatory  authorities  accessible  online  by  going  
--->to 
SEDAR  at  www.sedar.com  or  by  going  to  the  website  of  its  Courtappointed  monitor  at 
http://www.alvarezandmarsal.com/arcticglacierincomefundarcticglacierincandsubsidiaries.  The
Fund is under no obligation, and Fund expressly disclaims any intention or obligation, to update
or revise any forward-looking statements, whether as a result of new information, future events
or otherwise, except as required by applicable law.

About the Fund
Arctic Glacier Income Fund trust units are listed on the Canadian National Stock Exchange
under the trading symbol AG.UN. There are 350.3 million trust units outstanding.



 

 

 

 




            
S0804009  V1                                                  
 

File: Default Status Report (Sept 19, 2014) (S0804009@xC4C08).docx

ARCTIC GLACIER ISSUES DEFAULT STATUS REPORT PURSUANT TO NATIONAL POLICY 12-203

WINNIPEG -Sept 19, 2014 - Arctic Glacier Income Fund (CNSX: AG) (the "Fund") is providing a default status report in a
--->ccordance with the alternative information guidelines set out in National Policy 12-203 Cease Trade Orders for Continu
--->ous Disclosure Defaults ("National Policy 12-203"). 

On August 15, 2012, the Fund announced (the "Default Announcement") that it would not be able to file an interim finan
--->cial report and interim management's discussion and analysis for the period ended June 30, 2012, together with the rel
--->ated certification of filings under National Instrument 52-109 Certification of Disclosure in Issuers' Annual and Inte
--->rim Filings (collectively, the "Continuous Disclosure Documents") by August 29, 2012, the deadline prescribed by secur
--->ities legislation (the "Specified Requirement"). 

Except as discussed below, there have been no material changes to the information contained in the Default Announcemen
--->t or any other changes required to be disclosed under National Policy 12-203. 

The Fund still intends to file the Continuous Disclosure Documents as soon as is commercially reasonable, or as requir
--->ed by the Manitoba Court of Queen's Bench pursuant to the Fund's Companies' Creditors Arrangement Act (the "CCAA") pro
--->ceedings. More information about the Arctic Glacier Parties' CCAA proceeding can be found on the website of its Court-
--->appointed monitor at http://www.alvarezandmarsal.com/arctic-glacier-income-fund-arctic-glacier-inc-and-subsidiaries.


Forward-Looking Statements

Certain statements included herein constitute "forward-looking statements". All statements, other than statements of h
--->istorical fact, included in this release that address future activities, events, developments or financial performance
---> are forward-looking statements. These forward-looking statements can be identified by the use of forward-looking word
--->s such as "may", "should", "will", "could", "expect", "intend", "plan", "estimate", "anticipate", "believe", "future" 
--->or "continue" or the negative thereof or similar variations. In particular, statements about the Fund's intentions to 
--->satisfy the provisions of the alternative information guidelines and file information with the applicable securities r
--->egulatory authorities, as well as the expected timetable for satisfying the Specified Requirement, are or involve forw
--->ard-looking information. These forward-looking statements are based on certain assumptions and analyses made by the Fu
--->nd and its management, in light of their experiences and their perception of historical trends, current conditions and
---> expected future developments, as well as other factors they believe are appropriate in the circumstances. Investors a
--->re cautioned not to put undue reliance on such forward-looking statements, which are not a guarantee of performance an
--->d are subject to a number of uncertainties, assumptions and other factors, many of which are outside the control of th
--->e Fund, which could cause actual results to differ materially from those expressed or implied by such forward-looking 
--->statements. Important factors that could cause actual results to differ materially from those expressed or implied by 
--->such forward-looking statements include, among other things, the CCAA process and the Fund's ability to secure suffici
--->ent resources to prepare the Continuous Disclosure Documents. Readers are cautioned that the foregoing list is not exh
--->austive. Such forward-looking statements should, therefore, be construed in light of such factors. If any of these ris
--->ks or uncertainties were to materialize, or if the factors and assumptions underlying the forward-looking information 
--->were to prove incorrect, actual results could vary materially from those that are expressed or implied by the forward-
--->looking information contained herein. All forward-looking statements attributable to the Fund, or persons acting on it
--->s behalf, are expressly qualified in their entirety by the cautionary statements set forth above. Readers are cautione
--->d not to place undue reliance on forward-looking statements contained herein, which reflect the analysis of the manage
--->ment of the Fund, as appropriate, only as of the date of this release. For more information regarding these and other 
--->risks, readers should consult the Fund's reports on file with applicable securities regulatory authorities accessible 
--->online by going to SEDAR at www.sedar.com or by going to the website of its Court-appointed monitor at http://www.alva
--->rezandmarsal.com/arctic-glacier-income-fund-arctic-glacier-inc-and-subsidiaries. The Fund is under no obligation, and 
--->Fund expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a
---> result of new information, future events or otherwise, except as required by applicable law.

About the Fund
Arctic Glacier Income Fund trust units are listed on the Canadian National Stock Exchange under the trading symbol AG.
--->UN. There are 350.3 million trust units outstanding.