Arctic Glacier Income Fund Closes Transactions

In December 2004, Arctic Glacier closed transactions totaling C$190 million. Arctic Glacier Income Fund, through its wholly-owned operating company, Arctic Glacier Inc., is a leading producer, marketer and distributor of high-quality packaged ice to consumers in Canada and the US under the brand name of Arctic Glacier Premium Ice.

Arctic Glacier was represented on these transactions by its Canadian counsel Tapper Cuddy LLP, led by Hugh Adams and including Dale Melanson and Christopher Hoeschen; and by its US counsel Jones Day, led by Michael Weinberg and including Amanda Dake, Sharon Alexander, James Vallee, James Ranspot, Teresa Cefalo, Will Herzberger, Jessica Trilling, Hunter Jackson, Sarah Power and Rebecca Kieschnick.

On December 9, 2004, Arctic Glacier signed a US$60 million note purchase agreement with John Hancock Life Insurance Co. and five affiliated note purchasers. The note purchasers were represented by Morrison & Foerster LLP, led by Donna Zenor and including Eric Sanders and Kelly Logue.

Concurrent with the closing of the John Hancock note purchase, Arctic Glacier signed a C$55 million amended and restated loan agreement with the Toronto-Dominion Bank and RoyNat Inc. The syndicate of lenders was represented by Goodmans LLP, led by David Wiseman and David Nadler and including Cicely Leemhuis and Karen Karvat; and by its US counsel Jenkens & Gilchrist, led by Mike Rist and including Robert Nash and Trevor Ives.

On December 23, 2004, Arctic Glacier acquired a number of ice production, packaging and storage businesses in the New York City area from Losquadro Ice Company, Inc. and Huntington Ice & Cube Corp. and other related entities. The vendors were represented by Forchelli, Curto, Schwartz, Mineo, Carlino & Cohn, LLP, led by Anthony Curto. The syndicate of lenders was represented by Goodmans and Jenkens & Gilchrist, and John Hancock was represented by Morrison & Foerster.

On December 30, 2004, Arctic Glacier acquired a number of ice production, packaging and storage businesses, collectively known as Party Time Ice, in Michigan from a number of related entities. The vendors were represented by Hill Devendorf, led by Steve Hill and including David Devendorf, Susan Kreis, Ann Beck, Richard Mosier, Dennis Clyne, Mark Davidson and John Adair. The syndicate of lenders was represented by Goodmans and Jenkens & Gilchrist, and John Hancock was represented by Morrison & Foerster.