SASKATOON, June 18, 2012 /CNW/ - Big Sky Finishers (No. 1) Inc. ("Big Sky Finishers" or the "Company") is pleased to announce that it has extended its contract finishing agreement in place with Big Sky Farms Inc. ("Big Sky Farms").
The finishing agreement between Big Sky Finishers and Big Sky Farms has been extended until December 31, 2015 and the base fee payable by Big Sky Farms to Big Sky Finishers has been increased to $100,000 per month effective April 1, 2012. The extension agreement also contains a provision to increase this fee by 2% on an annual basis with the first such increase to be implemented April 1, 2013 and annually thereafter until the expiry of the agreement.
As discussed in the Company's Management Discussion and Analysis, Big Sky Finishers owns no material assets other than two large-scale hog finishing barns and related land, facilities and equipment (the "Project") located near Ogema, Saskatchewan, and carries on no material business operations other than to finish hogs in the Project pursuant to the finishing agreement. Substantially all of the revenues for Big Sky Finishers come from this finishing agreement.
For further information:
Big Sky Finishers (No. 1) Inc.
John Beckton, President
Tel: (306) 934-2727