Archangel Diamond Corporation (TSX VENTURE:AAD.H) reported that the company will hold a special meeting of shareholders on Monday, March 15th, 2010, at 10:00 a.m. (Toronto Time) at the offices of Fasken Martineau DuMoulin LLP at 66 Wellington Street West, 36th Floor, Toronto Dominion Tower, Toronto, Ontario, Canada to approve the voluntary dissolution of the Corporation and the delisting of the Corporation’s shares from the NEX trading board of the TSX Venture Exchange.

The press release is quoted as saying:

In December, 2009, the United States Bankruptcy Court for the District of Colorado (the “US Bankruptcy Court”) entered its order (the “US Order”) confirming Archangel’s amended plan of liquidation (the “Plan”). The Plan transfers the assets of the Corporation (being substantially the Corporation’s legal proceedings against AGD, LUKoil and certain related parties) to a trust (the “Liquidating Trust”) of which the Corporation’s creditors as of June 26, 2009 and the Corporation’s equity holders as of September 3, 2009 are beneficiaries, and otherwise sets forth the treatment of such creditors and equity holders.

Click here to access the entire press release

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