REGINA, Dec. 2, 2013 /CNW/ - Input Capital Corp. ("Input" or the "Company") (TSXV: INP) announces today that, pursuant to the provisions of its incentive stock option plan, the Board of Directors of Input has approved the grant of incentive stock options to directors, officers and consultants to the Company to purchase up to an aggregate of 2,386,622 common shares in the capital stock of the Company. As part of this grant, 2,273,565 options are granted to directors and officers and 113,057 options are granted to a consultant. The options are exercisable on or before December 1, 2018 at a price of $1.73. Options granted to independent directors vest immediately and options granted to officers vest one-third on each of the first, second and third anniversary of the grant date. 32,347 options granted to the consultant vest immediately with the remaining options granted to the consultant vesting one-half on each of the first and second anniversary of the grant date.
Input is an agriculture commodity streaming company with a focus on canola, the largest and most profitable crop in Canadian agriculture. Input enters into multi-year canola streaming contracts with canola farmers in western Canada. Pursuant to the streaming contract, Input purchases a fixed portion of the canola produced, at a fixed price, for the duration of the term of the contract. Input is a non-operating farming company with a portfolio of ten canola streams, all of which produce canola and revenue for Input in the year the agreement is signed. Input plans to grow and diversify its low cost canola production profile through entering into additional canola streaming contracts with farmers across western Canada.
Input is focused on farmers with quality production profiles, excellent upside yield potential, and strong management teams. Input has completed canola streaming contracts in Northern Alberta, Western Saskatchewan and throughout East Central Saskatchewan.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Forward Looking Statements
This release includes certain statements that may be deemed to be forward-looking statements. Such statements are based on the current expectations and views of future events of Input's management. In some cases the forward-looking statements can be identified by words or phrases such as "may", "will", "expect", "plan", "anticipate", "intend", "potential", "estimate", "believe" or the negative of these terms, or other similar expressions intended to identify forward-looking statements. The forward-looking events and circumstances discussed in this release may not occur and could differ materially as a result of known and unknown risk factors and uncertainties affecting Input, including risks regarding the agricultural industry, economic factors and the equity markets generally and many other factors beyond the control of Input. No forward-looking statement can be guaranteed. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statement or information. Accordingly, readers should not place undue reliance on any forward-looking statements or information. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made and Input undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
SOURCE: Input Capital Corp.
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Chair, President & CEO
Executive Vice-President & CFO