HIAWATHA, KS, March 13, 2018 /CNW/ - AgJunction Inc. (TSX: AJX) (the "Company" or "AgJunction"), a leader in automated steering and machine control technology for precision agriculture, announces that it has entered into a bulk purchase order with a customer to supply its Steering Solutions products to the customer for an aggregate purchase price of approximately $55 million. Deliveries and payments under the purchase order will occur between July 1, 2018 and June 30, 2019.
AgJunction provides innovative hardware and software applications for precision agriculture worldwide. The Company holds more than 185 patents and patent applications and markets its products and services under leading brand names including Novariant, Outback Guidance® and Satloc®. The Company is headquartered in Hiawatha, Kansas, with facilities in Silicon Valley, California, Scottsdale, Arizona, Winnipeg, Manitoba and Queensland, Australia. AgJunction is listed on the Toronto Stock Exchange (TSX) under the symbol "AJX." For more information, please go to www.agjunction.com.
This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws and is based on the expectations, estimates and projections of management of each of AgJunction as of the date of this news release, unless otherwise stated. More particularly and without limitation, this press release contains forward-looking information concerning payments to AgJunction for its Steering Solution products and delivery of AgJunction's steering solution products to the customer. Such forward-looking information is provided for the purpose of providing information about management's current expectations and plans relating to its current and future operations. Investors are cautioned that reliance on such information may not be appropriate for other purposes, such as making investment decisions. Further, AgJunction advises that no inference should be drawn by the customer making this purchase order that similar size orders will be made by this customer or any other customer in the future. Accordingly, readers should not place undue reliance on such forward-looking information contained in this press release.
In respect of the forward-looking information, AgJunction has provided such information in reliance on certain assumptions that it believes are reasonable at this time, including, but not limited to, the availability and cost of labour and services; that AgJunction future results of operations will be consistent with management expectations in relation thereto; that counterparties to contracts will continue to perform in a timely manner; that there are no unforeseen events preventing the performance of contracts; availability of key supplies, components, services, networks and developments; and the continuity of existing business relationships. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to that counterparties to contracts fail to perform such contracts in a timely manner, including in respect of payments thereunder; unforeseen events preventing the performance of contracts; availability of key supplies, components, services, networks and developments; loss of key employees; product liability; and other matters outside the Company's control. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking information contained in this press release is made as of the date hereof and each of AgJunction undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
SOURCE Agjunction Inc.
For further information: AgJunction: Michael Manning, CFO, 1-785-742-5149, MManning@agjunction.com; Investor Relations: Liolios, Cody Slach, Managing Director, 1-949-574-3860, AJX@liolios.com