REGINA, SK, Jan. 6 /CNW/ - Alliance Grain Traders Inc. (TSX:AGT) is pleased to announce that it has completed its previously announced acquisitions of assets from Parent Seed Farms Ltd. and Finora Inc. Both acquisitions have closed in escrow effective December 31, 2009 and are awaiting completion of land title transfer and registrations, which are expected to be completed on or about January 20, 2010. The two acquisitions add six processing facilities for processing beans, lentils, peas, chickpeas and other specialty crops in four locations: St. Joseph, Manitoba (operating as Saskcan Parent), Wilkie, Saskatchewan (operating as Finora Wilkie), Assiniboia, Saskatchewan (operating as Saskcan Assiniboia) and Gibbons, Alberta (operating as Saskcan Gibbons).
Alliance Grain Traders Inc. Profile
Alliance Grain Traders Inc. ("AGT") is a pulse processor and exporter engaged in the business of value-added processing (cleaning, splitting, sorting and bagging) of pulses and specialty crops, for export and domestic markets. Through its processing facilities located in some of the best pulse growing regions in Canada, the U.S., Turkey and Australia, AGT handles a full range of pulses and specialty crops including lentils, peas, chickpeas, beans and canary seed. Through its subsidiary in Turkey, the Arbel Group, AGT also produces Arbella Pasta, rice, and milled wheat products, such as bulgur and semolina.
Certain statements in this press release are forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by AGT at the time of preparation, may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of AGT (including its operating subsidiaries) to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the actual results of harvests, fluctuations in the price of lentils and other crops, failure of plant, equipment or processes to operate as anticipated, accidents or labour disputes, risks relating to the integration of acquisitions or to international operations, as well as those factors referred to in the section entitled "Risk Factors" in the prospectus of AGT's predecessor, Alliance Grain Traders Income Fund, dated July 16, 2009 which is available on SEDAR at www.sedar.com, and which should be reviewed in conjunction with this document. Although AGT has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. AGT expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
For further information: Investor Relations, Omer Al-Katib, (306) 244-1318, firstname.lastname@example.org