REGINA, Jan. 17, 2012 /CNW/ - Assiniboia Farmland Limited Partnership (the "Partnership") is pleased to announce that it has completed the second tranche of a private placement offering of limited partnership units (the "Units") previously announced on December 16, 2011. In total the Partnership issued 188,079 Units at a price of $41.00 per Unit for gross proceeds of $7,711,239.
GMP Securities L.P., as lead agent, and Canaccord Genuity Corp. acted as agents on the offering, which was carried out as a private placement offering pursuant to the accredited investor exemption of National Instrument 45-106 - Prospectus and Registration Exemptions.
The net proceeds of the offering, together with any borrowings by the Partnership, will be used to continue to acquire a portfolio of productive farmland properties that will be diversified by region, crop type, management style and property size for the principal purpose of renting the properties to farm operators through "cash rent", "variable cash rent" and "crop share" arrangements.
Assiniboia Farmland Limited Partnership is the largest farmland investment partnership in Canada, with almost 110,000 acres of Saskatchewan farmland under its management. The Partnership is the only Saskatchewan farmland partnership headquartered in Saskatchewan. Based in Regina, the Partnership provides investors with an opportunity to gain exposure to Saskatchewan farmland while providing stable semi-annual cash distributions to investors.
Additional information about Assiniboia Farmland Limited Partnership is available at www.sedar.com.
Forward Looking Information: This release contains forward-looking information within the meaning of applicable Canadian securities legislation, including statements respecting the completion of the offering, the date of closing and the use of offering proceeds. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those expressed or implied by such forward-looking information. In addition, the forward-looking information contained in this release is based upon what management believes to be reasonable assumptions. Readers are cautioned not to place undue reliance on forward-looking information as it is inherently uncertain and no assurance can be given that the expectations reflected in such information will prove to be correct. The forward-looking information in this release is made as of the date hereof and, except as required under applicable securities legislation, the Partnership assumes no obligation to update or revise such information to reflect new events or circumstances.
The securities of the Partnership have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release is issued for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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