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I believe this is a stock worth watching. The Arctic Group Inc. & its predecessor companies have been in continuous operation for over 100 years and can trace their roots back to 1882 in Winnipeg, Manitoba. The company first began publicly trading on the Alberta stock exchange in april 97. They operate in the packaged ice industry and have embarked on an aggressive consolidation & acquisition startegy. The management of the company have the largest holdings by far in the company. My research tells me the mangement of the company have many years of experience, and contacts within the packaged ice industry. Nearly all packaged ice companies are small independant, family owned & operated businesses servicing a local area. Competition on a local level is significantly reduced if not eliminated, by the extremely high capital requirements of plant and equipment for production, storage and delivery of product. As of yet, no significant consolidation has occured in this industry, unlike what has happened in the dairy, or soft drink industries recently. I think a consolidation for the ice industry is long overdue. Arctic Group Inc. AGP-ASE (warrants also trade AGP.WT-ASE) Shares issued & outstanding 12.7M Fully Dilluted 16.1M Current Float 2.7M Amount held by Management 10.5M The shares have a trading range of between .71 - $2.00 right now. The float is very tightly held. Look at the chart on AGP. I think the uptrend will continue if interest rates stay reasonable & management can continue what they have been doing so far. Here is the latest news release November 24,1997 AGP-ASE AGP.WT-ASE (warrants) ARCTIC GROUP CONTINUES U.S. EXPANSION WITH DEALS IN OKLAHOMA Winnipeg, Manitoba - The Arctic Group Inc. today announced that it has signed two Letters of Intent to acquire the assets and operations of two independant ice companies based in Oklahoma. Clinton Ice Company Inc., based in Clinton, Oklahoma and Shepard's C&C Ice Co.Inc., based in Perry, Oklahoma have combined annual sales of approximately $2,800,000 Cdn. The details of the individual acquisitions are not disclosed. The purchase will be made through a combination of debt, cash and issuance of common shares. Subject to final due dilligence and regulatory approvals, both transactions are scheduled to close within 60 days. On completion of these two acquisitions, the approximately $2,800,000 Cdn. in combined annual sales will enhance The Arctic Group Inc.'s total revenue to approimately $18,800,000 Cdn. Mr. Robert Nagy, Arctic Group Inc. Chairman of the Board and CEO, said "These acquisitions provide a logical geographic extension to the previously announced Host Ice acquisition operating in Texas. We are seeing a growing acceptance of The Arctic Group's business plan by independant owners/operators of ice companies wherever we go." The Arctic Group Inc. is one of Canada's largest ice companies and is committed to building an internationally recognized ice company by focusing on an aggressive strategy of growth through acquisition and consolidation of the ice industry in North America. For further information, call The Arctic Group Inc. TOLL FREE at 1-888-573-9237. (Signed) On behalf of the Management and the Board of Directors of The Arctic Group Inc., Robert Nagy, Chairman & CEO. The Alberta Stock Exchange has not reviewed and does not approve or disapprove of the adequacy or accuracy of this release. | ||||||||||||||
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