REGINA, Nov. 4, 2013 /CNW/ - Beginning with this update, Input Capital
Corp. ("Input") (TSX Venture Exchange: INP) will publish a monthly update summarizing
canola deliveries and the acquisition of new canola streams.
In 2013, Input acquired ten canola streams from which it expects to
receive 17,152 base Metric Tonnes ("tonnes" or "MT") of canola from the
recently completed harvest at an average price of $79.05 per tonne. As
these tonnes are delivered to Input, Input sells them at market prices.
Input's average realized price for the current year-to-date is $505 per
Input is also eligible to purchase bonus tonnes from its farm partners
when crop yields are above historical averages. Bonus tonnes consist of
15% of any yield over 30 bushels per acre, and are purchased for the
same average price of $79.05 per tonne.
For the month of October 2013 and the fiscal year ending March 31, 2014:
% of Expected Base
With the Prairie harvest complete, Input is currently in the process of
confirming crop results in order to calculate bonus tonnes and finalize
its delivery schedule to various grain elevators across Saskatchewan
and Alberta. Input plans to receive the remainder of its canola
deliveries and accompanying cash payments by March 31, 2014.
New Canola Streams
Input is also entering the intensive capital deployment period of the
year and is actively meeting with farmers across Western Canada to
acquire additional canola streams. As new streaming contracts are
finalized, they will be summarized in these monthly updates.
"We are looking forward to an exciting few months ahead as we anticipate
the acquisition of new and accretive canola streams," said President
and CEO Doug Emsley. "Not only will we recognize this year's revenue
over the next six months, but we are working hard to add new streaming
contracts. The addition of new streams to our already low cost
production profile will serve to increase our geographic
diversification across the Prairies and position our business for
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. 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