Input Capital Corp. Monthly Update - October 2013
REGINA, Nov. 4, 2013 /CNW/ - Beginning with this update, Input Capital Corp. ("Input") (TSX Venture Exchange: INP) will publish a monthly update summarizing canola deliveries and the acquisition of new canola streams.
In 2013, Input acquired ten canola streams from which it expects to receive 17,152 base Metric Tonnes ("tonnes" or "MT") of canola from the recently completed harvest at an average price of $79.05 per tonne. As these tonnes are delivered to Input, Input sells them at market prices. Input's average realized price for the current year-to-date is $505 per tonne.
Input is also eligible to purchase bonus tonnes from its farm partners when crop yields are above historical averages. Bonus tonnes consist of 15% of any yield over 30 bushels per acre, and are purchased for the same average price of $79.05 per tonne.
Canola Deliveries
For the month of October 2013 and the fiscal year ending March 31, 2014:
Period | Base Tonnes Received (MT) |
% of Expected Base Tonnes (MT) |
Average Realized Price ($/MT) |
Bonus Tonnes Purchased (MT) |
Oct 2013 | 700 | 4.2% | $505 | 12 |
FY2014 | 700 | 4.2% | $505 | 12 |
With the Prairie harvest complete, Input is currently in the process of confirming crop results in order to calculate bonus tonnes and finalize its delivery schedule to various grain elevators across Saskatchewan and Alberta. Input plans to receive the remainder of its canola deliveries and accompanying cash payments by March 31, 2014.
New Canola Streams
Input is also entering the intensive capital deployment period of the year and is actively meeting with farmers across Western Canada to acquire additional canola streams. As new streaming contracts are finalized, they will be summarized in these monthly updates.
"We are looking forward to an exciting few months ahead as we anticipate the acquisition of new and accretive canola streams," said President and CEO Doug Emsley. "Not only will we recognize this year's revenue over the next six months, but we are working hard to add new streaming contracts. The addition of new streams to our already low cost production profile will serve to increase our geographic diversification across the Prairies and position our business for continued growth."
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.
About Input
Input is an agriculture commodity streaming company with a focus on canola, the largest and most profitable crop in Canadian agriculture. Input enters into 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. Input has completed canola streaming contracts in Northern Alberta, Western Saskatchewan and throughout East Central Saskatchewan.
Forward Looking Statements
This release includes forward-looking statements regarding Input and its business. 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.
Doug Emsley
President & CEO
(306) 347-1024
[email protected]
Brad Farquhar
Executive Vice-President & CFO
(306) 347-7202
[email protected]
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