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Arctic Glacier Announces Extension of Credit Facility Winnipeg, December 30, 2009 – Arctic Glacier Income Fund (TSX:AG.UN) today announced its operating subsidiary, Arctic Glacier Inc. (“the Company”), has negotiated an amendment to its financing agreement with John Hancock Life Insurance Company. The amendment extends the maturity of the US$60 million senior secured notes previously scheduled to mature on January 4, 2010. The revised maturity date is now March 1, 2010, which provides the Company additional time to refinance its maturing debt. Arctic Glacier is currently in advanced discussions with prospective lenders to refinance these notes. 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 48 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 39.0 million trust units outstanding. -- 30 -- Contact Information The Toronto Stock Exchange does not approve or disapprove of the adequacy or accuracy of this release. |