AGT Food and Ingredients Inc. Announces Completion of Change of Control Offer

REGINA, June 11, 2019 /CNW/ - AGT Food and Ingredients Inc. ("AGT" or the "Company") is pleased to announce the completion of the previously announced change of control offer (the "Offer") to purchase any and all of the Company's outstanding 5.875% Senior Notes due December 21, 2021 (the "Notes").

The Company offered to purchase for cash any and all of the outstanding Notes at a purchase price equal to 101% of the aggregate principal amount of Notes plus accrued and unpaid interest on the Notes to but not including the date of payment (the "Consideration"), on and subject to the conditions set forth in the Company's Offer to Purchase and the accompanying Letter of Transmittal dated April 26, 2019. The Offer was made in accordance with the amended and restated trust indenture governing the Notes dated April 17, 2019 (the "Indenture"), pursuant to which the Company was required to make an offer to purchase the Notes upon the occurrence of a Change of Control (as defined in the Indenture).

The Offer expired at 5:00 p.m. (Eastern time) on May 27, 2019, and $6,240,600 in aggregate principal amount, representing 20.391% of the then outstanding Notes, were validly tendered and not withdrawn. All tendered Notes were accepted by the Company for purchase and payment was made on June 11, 2019. After giving effect to the purchase of the tendered Notes, an aggregate principal amount of $24,364,276 of Notes remains outstanding.

The depositary for the Offer is TSX Trust Company. Holders of Notes with questions may contact the depositary at [phone] or North American toll-free at [phone], or by email at [email protected].

AGT Food and Ingredients Inc. Profile
AGT Food and Ingredients Inc. (AGT) is a processor of value-added pulses, staple foods and ingredients for export and domestic markets as well as a supplier of retail packaged and canned foods to retail and food service sectors. Through its offices and processing facilities located in some of the best agricultural growing regions in Canada, the U.S., Turkey, China, Australia and South Africa, merchandising and sales offices in the U.K., the Netherlands, Spain, Switzerland and India and origination offices in Russia, AGT produces a full range of pulses and specialty crops including lentils, peas, chickpeas, beans and canary seed as well as food ingredients such as pulse flours, proteins, starches and fibres. Through its subsidiaries in Turkey, the Arbel Group, AGT also produces staple foods such as Arbella Pasta, rice, and milled wheat products, including bulgur and semolina.

SOURCE AGT Food and Ingredients Inc.

Investor Relations, Omer Al-Katib, [phone], [email protected]

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