Arctic Glacier Income Fund

Arctic Glacier Income Fund

September 03, 2010 11:25 ET

Arctic Glacier Reaches Agreement With Michigan Attorney General to End State Investigation

WINNIPEG, MANITOBA--(Marketwire - Sept. 3, 2010) - Arctic Glacier Income Fund (TSX:AG.UN) today announced its U.S. subsidiary, Arctic Glacier International Inc., has agreed with the Michigan Attorney General to resolve, without any admission of wrongdoing, all allegations that it violated Michigan's antitrust laws. Under terms of the settlement, the subsidiary has agreed to pay the sum of $350,000 in two instalments in September and December of 2010.

The settlement concludes and resolves all investigations, inquiries, claims and proceedings by the Michigan Attorney General related to any alleged violations of applicable state and federal antitrust laws.

Arctic Glacier takes its obligation and commitment to abide by all laws and specifically competition laws very seriously. The Company has reinforced its ongoing competition compliance program, which requires all managers and staff to fully comply with such requirements at all times. Arctic Glacier has adopted a company-wide system of training and education, adopting best practices in all cases in order to respect the competitive landscape of the North American ice industry.

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, primarily under the brand name of Arctic Glacier® Premium Ice. Arctic Glacier operates 39 production plants and 48 distribution facilities across Canada and the northeast, central and western United States servicing more than 75,000 retail locations.

Arctic Glacier Income Fund trust units are listed on the Toronto Stock Exchange under the trading symbol AG.UN. There are 39.0 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 phone: 1-888-573-9237
    Arctic Glacier Income Fund
    Doug Bailey
    Chief Financial Officer
    Toll free investor relations phone: 1-888-573-9237