REGINA, Dec. 11, 2017 /CNW/ - Input Capital Corp. ("Input") (TSX Venture: INP) (US: INPCF) announced today the TSV Venture Exchange has accepted Input's application for a normal course issuer bid (the "Bid") for up to 6,578,683 of its common shares (the "Shares"), representing approximately 10% of Input's public float.
As previously announced on December 6, 2017, the Bid will commence on December 14, 2017 and continue until the earlier of December 13, 2018 and the date by which Input has acquired the maximum Shares which may be purchased under the Bid. The Bid will be made through the facilities of the TSX Venture Exchange, or such other "designated exchange" as that term is defined by applicable Canadian securities laws, and the purchase and payment for the Shares will be made in accordance with TSX Venture Exchange requirements, or such other designated exchange, at the market price of the Shares at the time of acquisition. All Shares purchased by Input under the Bid will be cancelled.
Input has appointed GMP Securities L.P. as its broker to conduct the Bid transactions.
Management of Input believes that the Shares have been trading in a price range which does not adequately reflect their value and that the purchase of the Shares under the Bid will enhance shareholder value in general.
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 volume of canola annually for the duration of the term of the contract. Input is a non-operating farming company with a diversified portfolio of canola streams, all of which produce canola and revenue for Input within a year of being 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.
Further information can be found in the disclosure documents filed by Input with the securities regulatory authorities, available at www.sedar.com and on Input's website at www.inputcapital.com.
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.
SOURCE Input Capital Corp.