Ableauctions.com Inc. (NYSE AMEX:AAC) (the “Company”) announced that its board of directors has declared a cash distribution on its common stock of $0.55 per share (for a total of approximately $4.5 million) and has established December 30, 2009 as the record date for this distribution and for determining the stockholders who will be entitled to receive distributions from the liquidating entity that is to be established in conjunction with the Company’s acquisition of Top Favour Limited (SinoCoking), if the acquisition (as more fully described in the definitive proxy statement filed with the SEC on November 27, 2009) is approved. There is no assurance that the Company’s stockholders will approve the acquisition.