Bonnefield Canadian Farmland Corp. Announces Filing of Preliminary Prospectus for Initial Public Offering
/This press release is not for distribution to U.S. newswire services or dissemination in the United States/
OTTAWA, Jan. 18, 2012 /CNW/ - Bonnefield Canadian Farmland Corp. (the "Company") is pleased to announce that it has filed a preliminary prospectus with the securities regulatory authorities in each of the provinces and territories of Canada for its initial public offering of common shares at a price of $10.00 per share. The maximum offering size is $100 million.
The Company has been established to provide investors with a liquid investment in primarily Canadian farmland and will seek to assemble a farmland portfolio which is diversified as to geography, crop type and farmer. The Company's investment objectives are to provide shareholders with: (a) the opportunity for long-term capital appreciation; and (b) quarterly dividends. The Company will not have a fixed dividend amount, but will initially target a dividend of 3% to 4% per annum.
The Company will be managed by Bonnefield Financial Inc. ("Bonnefield"). Bonnefield Financial Inc. is a leading farmland investment company with a mandate to invest in and manage farmland across Canada. Bonnefield has an established Canada-wide network of progressive farmers, farmland realtors and farm financial advisors to help it procure and successfully invest nationally in farmland. Bonnefield is a strong proponent of sustainable farming practices, environmentally responsible land stewardship and the protection of Farmland for Farming™.
The syndicate of agents for the offering is being led by BMO Capital Markets and includes National Bank Financial Inc., Scotia Capital Inc., Raymond James Ltd., Canaccord Genuity Corp., GMP Securities L.P., Desjardins Securities Inc., Macquarie Private Wealth Inc., Cormark Securities Inc., and Dundee Securities Ltd.
A preliminary prospectus containing important information relating to these securities has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. The preliminary prospectus is still subject to completion or amendment. Copies of the preliminary prospectus may be obtained from one of the dealers noted above. There will not be any sale or any acceptance of an offer to buy the securities until a receipt for the final prospectus has been issued.
The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or any applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities nor will there be any sale of such securities in any state in which such offer, solicitation or sale would be unlawful.
Certain statements included in this news release constitute forward-looking statements. The forward-looking statements reflect the Company's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Readers are cautioned not to place undue reliance on such statements. Neither the Company nor Bonnefield undertakes any obligation to update publicly any forward-looking statement or information except as required by law.For further information:
+1 (416) 309-4477