IFL Investment Foundation (Canada) Limited announces liquidation of its portfolio and subsequent dissolution

MONTREAL, Nov. 9, 2011 /CNW Telbec/ - IFL Investment Foundation (Canada) Limited (TSXV: IF) ("IFL") announces that its Board of Directors has approved a proposal to its shareholders for the liquidation of the corporation's investment portfolio and its subsequent dissolution.

In light of the current regulatory environment, IFL will have difficulty meeting regulatory requirements for registration as an investment fund manager. As a result, the Board of Directors has decided in favour of the orderly liquidation of the portfolio holdings of the Corporation with a view to maximizing shareholder value. Such liquidation is subject to a special vote by IFL's shareholders. It is expected that the final distribution to shareholders shall occur in early 2012.

"It is with sadness that the Board is forced to embark upon this course of action.  IFL has always been a rewarding investment for its shareholders.  In order to satisfy current regulatory requirements, IFL would have to reconsider its management structure, employ additional staff and retain various professionals and registrants. This would have added material costs and would have reduced returns to shareholders. It is a shame to end 83 extraordinary years of faithful and profitable service to our shareholders" declared Mr. A. Scott Fraser, its President.

The liquidation and eventual dissolution and delisting of IFL is subject to the requisite regulatory approvals.

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.

SOURCE IFL Investment Foundtion (Canada) Limited

For further information:

A. Scott Fraser, President, IFL Investment Foundation (Canada) Limited.

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IFL Investment Foundtion (Canada) Limited

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