Acorn Income Corp. Voluntary Dissolution Receives Shareholder A

 
FSC / Press Release 
Acorn Income Corp. Voluntary Dissolution Receives Shareholder Approval 
Calgary, Alberta CANADA, February 03, 2014 /FSC/ - Acorn Income Corp. (ACI -
CSE),("Acorn" or the "Company"), updating its news release of December 12, 2013,
 announces that its shareholders have approved the voluntary liquidation and
dissolution of the Company pursuant to the Business Corporations Act (Alberta),
and the distribution of the net cash assets to the shareholders (the
"Dissolution"). The resolution authorizing the Dissolution was approved by more
than two-thirds of the votes cast by shareholders present or represented by
proxy at the annual and special meeting of shareholders (the "Meeting") held
today. 
Notwithstanding the receipt of such shareholder approval, the board of directors
has been empowered and authorized by the shareholders with the discretion not to
proceed with the Dissolution if it determines that it is no longer in the best
interests of the Company and its shareholders. The board of directors of the
Company will continue to assess other potential opportunities, if any, that the
directors view as reasonably likely to provide greater realizable value to its
shareholders than is expected under the Dissolution. 
Full details of the steps and conditions of the Dissolution are described in the
management information circular of the Company, dated January 3, 2014, prepared
in connection with the Meeting. A copy of the Company's management information
circular is available on SEDAR at www.sedar.com. Shareholders are encouraged to
review the future news releases and other continuous disclosure documents issued
and/or filed on the Company's SEDAR profile which may include further
information regarding the progress of the Dissolution, its timing, and the
amount of distributions thereunder. The Company will announce and/or file such
updated information as it becomes available in accordance with applicable
securities laws. 
For further information, please contact Elias Foscolos, President, Chief
Executive Officer and Chief Financial Officer of Acorn Income Corp.,  Tel: (403)
265-6540, Fax (403) 206-7185, Email: elias.foscolos@accretivefinance.ca 
Reader Advisory 
This news release contains forward-looking statements and information
("forward-looking statements") within the meaning of applicable securities laws
including transactions as alternatives to the Dissolution, the Dissolution and
the distribution of funds to shareholders. Although the Company believes that
the expectations reflected in its forward-looking statements are reasonable,
such statements have been based upon currently available information to the
Company. Such statements are subject to known and unknown risks, uncertainties
and other factors that could influence actual results or events and cause actual
results or events to differ materially from those stated, anticipated or implied
in forward-looking statements. Risks include, but are not limited to: receipt of
all required regulatory approval, changes in tax laws, the ability of the
Company to effect an orderly wind-up of its operations, the possible delay in
implementation of the liquidation and dissolution, the timing and amount of
payments to shareholders, and unknown liabilities which may be asserted in
connection with the liquidation. The risks, uncertainties, material assumptions
and other factors that could affect actual results are discussed in more detail
in the Company's management's discussion and analysis and other documents
available at www.sedar.com. Readers are cautioned to not place undue reliance on
forward-looking statements. The statements in this press release are made as of
the date of this release, and, except as required by applicable law, The Company
does not undertake any obligation to publicly update or to revise any of the
included forward-looking statements, whether as a result of new information,
future events or otherwise. 
To view the press release as a PDF file, please click on the following link:
http://www.usetdas.com/pr/acorn02032014.pdf 
Source: Acorn Income Corp.
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-0- Feb/03/2014 21:06 GMT
 
 
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