REGINA, May 1, 2014 /CNW/ - Input Capital Corp. ("Input") (TSX Venture
Exchange: INP) is releasing its monthly update for April 2014
summarizing canola deliveries and the acquisition of new multi-year
Input sold a record 2,234 metric tonnes (MT) of canola in April at an
average price of $493 per MT, for monthly revenue of $1.1 million. This
is the first time that Input has recorded more than $1 million in
monthly revenue. Input also received a further 471 MT in March
subsequent to the publication of the monthly update, pushing March
deliveries to 1,816 MT.
"We have now delivered and sold almost half of the 2013 crop," said
President and CEO Doug Emsley. "In addition, the strength of our
marketing program is demonstrated by the fact that April's sales have
increased our average realized price for the 2013 crop year.
"Input's business is growing rapidly. Canola is being delivered and
converted to cash, and new streams are being signed which will grow the
company's canola sales very significantly over the years to come."
Input expects to receive 18,697 base tonnes of canola from the 2013
The following table summarizes canola sales for the 2013 growing season:
Base Tonnes Sold
% of 2013 Growing
Season Base Tonnes
New Canola Streams
During the month of April 2014, Input also entered into six canola
streaming contracts with farmers in Saskatchewan for total up-front
payments of $9.7 million, a new monthly record. Three of the contracts
represent expanded or new contracts with existing farm partners as a
result of farm expansions undertaken by these farmers, while the other
three contracts are with farmers new to Input. All of the farms are
located in Saskatchewan.
Emsley added, "This brings our deployment for this season to more than
$22.8 million to date, which is 65.4% higher year-over-year and ahead
of our internal investment objectives. Our deal pipeline also continues
to grow as farmers discover how a streaming contract can provide
liquidity to farming operations, particularly when crop sales are slow,
or when expansion opportunities come along."
Input has now invested a total of $42.1 million to date, in multi-year
canola streaming contracts with 20 farmers.
Streaming Contract Summary at April 30, 2014
Contracted volume for growing season
Contract Base Tonnes
Average Cash Cost(1) / Base MT
Claim to Bonus Tonnes
Now that the active farming season is beginning, this update is the last
monthly update Input will provide. The company will continue to update
investors on canola sales and new canola streams via its regular
quarterly reporting schedule.
Input to Release Fourth Quarter and Annual Results
Today, Input also announced that it will release its fiscal year 2014
fourth quarter and annual results on Tuesday, May 27, 2014, after
Webcast and Conference Call Details
A conference call will be held on Wednesday, May 28, 2014 starting at
8:30 am Saskatchewan time (10:30 am Eastern time) to further discuss
the fourth quarter and annual results. To participate in the conference
call use the following dial-in number:
Participant Dial in #: (888) 231-8191 (North America Toll Free)
Webcast URL: http://www.newswire.ca/en/webcast/detail/1348135/1490627
It is recommended that participants dial in five minutes prior to the
commencement of the conference call. Soon after the completion of the
call, the webcast will be available for download on the Input Capital
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Input is an agriculture commodity streaming company with a focus on
canola, the largest and most profitable crop in Canadian agriculture.
Input enters into multi-year canola streaming contracts with canola
farmers in western Canada. Pursuant to the streaming contract, Input
purchases a fixed portion of the canola produced, at a fixed price, for
the duration of the term of the contract. Input is a non-operating
farming company with a diversified portfolio of canola streams, all of
which produce canola and revenue for Input within a year of being
signed. Input plans to grow and diversify its low cost canola
production profile through entering into additional canola streaming
contracts with farmers across western Canada.
Input is focused on farmers with quality production profiles, excellent
upside yield potential, and strong management teams. Input has
multi-year canola streams with twenty farmers located across Alberta
Forward Looking Statements
This release includes forward-looking statements regarding Input and its
business. Such statements are based on the current expectations and
views of future events of Input's management. In some cases the
forward-looking statements can be identified by words or phrases such
as "may", "will", "expect", "plan", "anticipate", "intend",
"potential", "estimate", "believe" or the negative of these terms, or
other similar expressions intended to identify forward-looking
statements. The forward-looking events and circumstances discussed in
this release may not occur and could differ materially as a result of
known and unknown risk factors and uncertainties affecting Input,
including risks regarding the agricultural industry, economic factors
and the equity markets generally and many other factors beyond the
control of Input. No forward-looking statement can be guaranteed.
Forward-looking statements and information by their nature are based on
assumptions and involve known and unknown risks, uncertainties and
other factors which may cause our actual results, performance or
achievements, or industry results, to be materially different from any
future results, performance or achievements expressed or implied by
such forward-looking statement or information. Accordingly, readers
should not place undue reliance on any forward-looking statements or
information. Except as required by applicable securities laws,
forward-looking statements speak only as of the date on which they are
made and Input undertakes no obligation to publicly update or revise
any forward-looking statement, whether as a result of new information,
future events, or otherwise.
SOURCE: Input Capital Corp.
For further information:
President & CEO
Executive Vice-President & CFO