Arctic Glacier Income Fund

Arctic Glacier Income Fund

August 07, 2008 20:44 ET

Arctic Glacier Income Fund Statement on U.S. Antitrust Investigation

WINNIPEG, MANITOBA--(Marketwire - Aug. 7, 2008) - Arctic Glacier Income Fund (TSX:AG.UN) today announced it will not comment regarding the ongoing investigation into possible antitrust violations in the packaged ice industry in the United States by the Antitrust Division of the U.S. Department of Justice (DOJ).

"Arctic Glacier has been cooperating with the authorities since we first learned of the investigation, and we intend to continue doing so," said Keith McMahon, President and CEO of the Fund's operating subsidiary, Arctic Glacier Inc.

News media today published information related to the investigation including the story of a former employee of a group of Michigan-based ice companies that Arctic Glacier acquired in December 2004.

Arctic Glacier will not respond to the allegations of the former employee or participate in the media campaign he has chosen to launch. He is personally seeking money in a lawsuit, and his statements and resulting media attention should be viewed in that light. His civil action is not a part of the DOJ investigation, nor is the DOJ a party to it. Arctic Glacier will vigorously defend against those claims and looks forward to having a court weigh the evidence when it is brought forth.

Arctic Glacier Income Fund, through its operating company, Arctic Glacier Inc., is a leading producer, marketer and distributor of high-quality packaged ice in North America under the brand name of Arctic Glacier® Premium Ice. Arctic Glacier operates 38 production plants and 51 distribution facilities across Canada and the northeast, central and western United States servicing more than 75,000 retail accounts.

Arctic Glacier Income Fund trust units are listed on the Toronto Stock Exchange under the trading symbol AG.UN. There are 38.9 million trust units outstanding.

The Toronto Stock Exchange does not approve or disapprove of the adequacy or accuracy of this release.

Contact Information

  • Arctic Glacier Income Fund
    Keith McMahon
    President & CEO
    Toll Free Investor Relations: 1-888-573-9237
    Arctic Glacier Income Fund
    Doug Bailey
    Chief Financial Officer
    Toll Free Investor Relations: 1-888-573-9237