/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR
FOR DISSEMINATION IN THE UNITED STATES/
TORONTO, July 16 /CNW/ - Alliance Grain Traders Income Fund
(TSX-V: AGT.UN) (the "Fund") is pleased to announce that it has today
completed a private placement of 970,000 units at a price of $15.50 per unit
for gross proceeds of $15,035,000.
The Fund plans to use the net proceeds of this financing for
acquisitions, working capital and general corporate purposes. The Units sold
will be subject to a statutory hold period and may not be resold until
November 17, 2008.
The private placement was brokered by Wellington West Capital Markets
Inc., leading a syndicate of agents that included Genuity Capital Markets and
First Republic Capital Corp. The agents earned a commission of 5% of the gross
proceeds of the offering.
The securities being offered have not been registered under the United
States Securities Act of 1933, as amended, and may not be offered or sold
within the United States or to, or for the account or benefit of, U.S. persons
absent U.S. registration or an applicable exemption from the U.S. registration
requirements. This news release does not constitute an offer to sell or the
solicitation of an offer to purchase securities in the United States.
About the Fund
The Fund is an income trust which derives its income from the operations
of its operating subsidiary, Alliance Pulse Processors Inc. ("Alliance").
Alliance is engaged in the business of sourcing and processing (cleaning,
splitting, sorting and bagging) specialty crops, primarily for export markets.
The Fund's companies in Canada, U.S. and Australia handle the full range of
pulses and specialty crops including lentils, peas, chickpeas, beans and
canary seed through six processing plants.
Certain statements in this press release are forward-looking statements.
The reader is cautioned that assumptions used in the preparation of such
information, although considered reasonable by the Fund at the time or
preparation, may prove to be incorrect.
Forward-looking statements involve known and unknown risks, uncertainties
and other factors which may cause the actual results, performance or
achievements of the Fund (including its operating subsidiaries) to be
materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such risks and
uncertainties include, among others, the actual results of harvests,
fluctuations in the price of lentils and other crops, failure of plant,
equipment or processes to operate as anticipated, accidents, or labour
disputes, risks relating to the integration of acquisitions or to
international operations, as well as those factors referred to in the section
entitled "Risk Factors" in the prospectus of the Fund dated December 30, 2004
which is available on SEDAR at www.sedar.com, and which should be reviewed in
conjunction with this document. Although the Fund has attempted to identify
important factors that could cause actual actions, events or results to differ
materially from those described in forward-looking statements, there may be
other factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that forward-looking
statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY
OR ACCURACY OF THIS RELEASE.
THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO PURCHASE SECURITIES OF THE FUND IN ANY
For further information:
For further information: Murad Al-Katib, Chairman of the Board of
Trustees, President and CEO, Alliance Pulse Processors, Tel: (306) 525-4490,