TORONTO, Oct. 3 /CNW/ - Alliance Grain Traders Income Fund (the "Fund")
(TSX-V:AGT.UN) is pleased to announce that its operating company Alliance
Pulse Processors Inc. ("Alliance") has closed into escrow the acquisition of
45% of the issued and outstanding shares of Saskcan Horizon Trading Inc.
("Saskcan Horizon"), a pulse and special crops processor located in Aberdeen,
Saskatchewan. Alliance already owns 55% of Saskcan Horizon. The purchase price
for the acquisition was $1,400,000, of which $359,996 will be paid by the
issuance of units of the Fund at $13.31 per unit (subject to stock exchange
approval) and the balance was paid in cash. Completion of the transaction is
subject to the receipt of all necessary stock exchange approvals. As a result
of the transaction Saskcan Horizon will become a wholly-owned subsidiary of
About Saskcan Horizon
Saskcan Horizon, a private Saskatchewan company, owns and operates a
pulse and special crops processing facility in Aberdeen, Saskatchewan. Its
business is currently focused on lentils, canary seed, peas and chickpeas.
About the Fund
The Fund is an income trust which derives its income from the operations
of its operating subsidiary, Alliance. Alliance is engaged in the business of
sourcing and processing (cleaning, splitting, sorting and bagging) specialty
crops, primarily for export markets. The Fund's companies in Canada, U.S. and
Australia handle the full range of pulses and specialty crops including
lentils, peas, chickpeas, beans and canary seed through six processing plants.
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 the Fund 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 the Fund (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 the Fund dated December 30, 2004
which is available on SEDAR at www.sedar.com, and which should be reviewed in
conjunction with this document. Although the Fund 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
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Murad Al-Katib, Chairman of the Board of
Trustees, Alliance Grain Traders Income Fund, President and CEO, Alliance
Pulse Processors, Tel: (306) 525-4490, Email: firstname.lastname@example.org