REGINA, Aug. 13 /CNW/ - ADC Enterprises 4 Inc. ("ADC") announce that in
connection with the closing of the initial public offering (the "Offering") of
limited partnership units ("Units") of Assiniboia Farmland Limited Partnership
4 ("Assiniboia") on August 13, 2008, ADC acquired ownership of 140,400 Class F
Units. The Units owned by ADC represent approximately 43.56% of the
outstanding Units. ADC is indirectly controlled by Doug Emsley, a director and
the President and Chief Executive Officer of Assiniboia Farmland GP 4 Corp.
("GP"), the general partner of Assiniboia, and his spouse, Tamara Emsley
(together with Mr. Emsley, the "Emsleys"), through their indirect control of
85% of the voting securities of ADC. Brad Farquhar, the Vice President of the
GP, and his spouse, Lynette Farquhar (collectively, the "Farquhars")
indirectly control 15% of the voting securities of ADC.
ADC acquired the Units pursuant to the Offering for investment purposes.
The Units are not listed or quoted for trading on a stock exchange. Each of
ADC, the Emsleys and the Farquhars may in the future take such actions in
respect of their holdings as they may deem appropriate in light of the
circumstances then existing, including the purchase of additional Units or
other securities of Assiniboia through privately negotiated transactions, or
the sale of all or a portion of their holdings in privately negotiated
transactions to one or more purchasers.
ADC, the Emsleys and the Farquhars may be considered to be joint actors
under applicable securities legislation. However, the issuance of this press
release is not an admission that any entity named in this press release owns
or controls any of the securities described in this press release or is a
joint actor with any other entity named in this press release.
For further information:
For further information: Brad Farquhar, Suite 300, 1914 Hamilton Street,
Regina, Saskatchewan, S4P 3N6, (306) 347-7202