Alliance Grain Traders Income Fund receives securityholder approval for transformational transactions



    TORONTO, Aug. 14 /CNW/ - Alliance Grain Traders Income Fund (TSX-V:
AGT.UN) (the "Fund") is pleased to announce that at the special meeting of its
Unitholders and holders of Special Voting Rights (the "Voting Unitholders")
held earlier today, it received the requisite approvals from its Voting
Unitholders for the transformational transactions announced in the Fund's
press release dated July 16, 2009.
    The proposed acquisition ("Acquisition") of Arbel Bakliyat Hububat Sanayi
ve Ticaret A.S., Durum Gida Sanayi ve Ticaret A.S., and Turkpulse Dis Ticaret
A.S., (collectively, the "Arbel Group Companies") by the Fund's wholly-owned
subsidiary Alliance Grain Traders Inc. ("AGTI") was approved by 99.99% of the
votes cast by the Voting Unitholders present in person or represented by proxy
at the meeting (excluding the Voting Unitholders who are also shareholders of
the Arbel Group Companies).
    The proposed conversion of the Fund on a tax deferred basis from an
open-ended unit trust to a dividend-paying corporation by means of a plan of
arrangement between the Fund and AGTI under the Business Corporations Act
(Ontario) (the "Conversion") was approved by 99.99% of the votes cast by the
Voting Unitholders present in person or represented by proxy at the meeting,
voting as one class.
    The completion of the Acquisition and the Conversion are subject to
various conditions, including receipt of all requisite regulatory approvals
and a final order of the Ontario Superior Court of Justice to approve the
Conversion. The Fund currently expects the completion of the Acquisition and
the Conversion to take place on or about September 10, 2009.

    About the Fund

    The Fund is an income trust which derives its income from the operations
of its operating subsidiary, Alliance Pulse Processors Inc. ("Alliance").
Alliance, on its own and through its subsidiaries, is engaged in the business
of sourcing and processing (cleaning, splitting, sorting and bagging)
specialty crops, primarily for export markets. Alliance and its subsidiaries
in Canada, U.S. and Australia handle the full range of pulses and specialty
crops including lentils, peas, chickpeas, beans and canary seed through six
processing plants.

    Cautionary Statements

    Certain statements in this press release are forward-looking statements.
The reader is cautioned that assumptions used in the preparation of such
information, although considered reasonable by the Fund at the time of
preparation, may prove to be incorrect. Forward-looking statements involve
known and unknown risks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Fund (including its
operating subsidiaries) to be materially different from any future results,
performance or achievements expressed or implied by the forward-looking
statements. Such risks and uncertainties include, among others, the actual
results of harvests, fluctuations in the price of lentils and other crops,
failure of plant, equipment or processes to operate as anticipated, accidents
or labour disputes, risks relating to the integration of acquisitions or to
international operations, as well as those factors referred to in the section
entitled "Risk Factors" in the Annual Information Form of the Fund dated May
28, 2009 which is available on SEDAR at www.sedar.com, and which should be
reviewed in conjunction with this document. Although the Fund has attempted to
identify important factors that could cause actual actions, events or results
to differ materially from those described in forward-looking statements, there
may be other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual results and
future events could differ materially from those anticipated in such
statements. Accordingly, readers should not place undue reliance on
forward-looking statements.

    
    Neither TSX Venture Exchange nor its Regulation Services Provider (as
    that term is defined in the policies of the TSX Venture Exchange) accepts
    responsibility for the adequacy or accuracy of this release.
    





For further information:

For further information: Murad Al-Katib, Chairman of the Board of
Trustees, President and CEO, Alliance Pulse Processors, Tel: (306) 525-4490,
Email: trade@saskcan.com

Organization Profile

ALLIANCE GRAIN TRADERS INCOME FUND

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