REGINA, Oct. 15, 2013 /CNW/ - Input Capital Corp. ("Input") (TSXV: INP) announces that it has taken delivery of canola from its
first ever canola streaming contract.
On January 15, 2013, Input signed its first ever canola streaming
contract (Contract SK-1) with a farmer in Central Saskatchewan. Under
the terms of that contract, the farmer agreed to deliver specified
numbers of tonnes of canola to Input over the next six years, including
700 base tonnes in 2013, plus bonus tonnes consisting of 15% of any
yield over 30 bushels per acre.
Last week, the farmer completed delivery of 712 tonnes of canola to a
grain elevator at Raymore, Saskatchewan, and Input received payment of
$359,862 from the elevator, for an average net price of $505 per tonne.
Once the final yield reconciliations are completed on this farm, the
final number of bonus tonnes will be calculated and delivered to
Input's account with the same grain company.
President and CEO Doug Emsley said, "Many investors have told us they
want to see Input complete the circle and see capital deployed, turned
into canola tonnes, and sold for cash. This first canola delivery
completes that circle and demonstrates the strength of Input's
proprietary agriculture streaming model. Only 9 months after deploying
the capital, Input is recognizing revenue and has been paid for the
first deliveries under this contract."
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities in any jurisdiction.
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 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 portfolio of ten canola streams, all of which produce
canola and revenue for Input in the year the agreement is 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
completed canola streaming contracts in Northern Alberta, Western
Saskatchewan and throughout East Central Saskatchewan.
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