IF Ifl Invt Fndtn Cda Ltd

MONTREAL, Dec. 19, 2011 /CNW Telbec/ - IFL Investment Foundation (Canada) Limited ("IFL" or the "Corporation") held this morning it's Special Meeting of Shareholders (the "Meeting") for the purpose of adopting a Special Resolution approving its dissolution (the "Special Resolution"). The Special Resolution was adopted by the affirmative vote of approximately 82% of the issued and outstanding Common Shares of the Corporation. Only 73 of the 65,691 Common Shares represented and voted at the Meeting, whether by proxy or in person, were voted against the Special Resolution. Accordingly, the Corporation will cease to carry on business in the normal course and proceed with the orderly liquidation of its assets, with the due and punctual payment of its liabilities and with the distribution of the net proceeds of liquidation to its shareholders. Audited Financial Statements for the year ending December 31, 2011, the Management Report of Fund Performance and other required year-end documentation will be mailed to Shareholders and/or filed in due course. IFL is a closed-end investment corporation whose common shares are listed on the TSX Venture Exchange under the symbol IF. The investment fund's business consists of investing in marketable securities, predominantly in common stock. IFL Investment Foundtion (Canada) Limited CONTACT: A. Scott Fraser, President, IFL Investment Foundation (Canada)Limited.514-394-2780

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