Input Capital Corp. Publishes August 2013 Monthly Letter to Shareholders
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REGINA, Aug. 29, 2013 /CNW/ - Input Capital Corp. ("Input") (TSX Venture Exchange: INP), is pleased to announce the release of its August 2013 letter to shareholders:
August 2013 Shareholder Letter
To the Shareholders of Input Capital Corp.,
Because the last update I sent you was related to June, this update covers both July and August.
While summer can often be a quiet period for many companies, July and August were big months in the life of our company and the ongoing implementation of our business plan.
Trading on the TSX Venture Exchange
You likely know this already, but in the event that you have been on holidays on the backside of the moon, Input Capital Corp. is now a publicly traded company on the TSX Venture Exchange. On July 22nd, Input began trading under the symbol "INP". And on August 1st, shares began to be traded in the United States in the Pink Sheets under the symbol "INPCF".
Analyst Coverage
The same day Input began trading, we were pleased to find that Beacon Securities analyst Michael Mills had initiated coverage of Input Capital. And on August 1st, Fundamental Research analyst Siddarth Rajeev initiated coverage of our company.
Ringing the Bell on the TSXV
On July 31, our Input Capital team travelled to Toronto to ring the bell on the TSX Venture Exchange.
Click this link to watch the event on YouTube:
http://www.youtube.com/watch?v=o9ffrhcK_hU&feature=share&list=UUA_LKztrzaQBzVLhTkn74DQ
Input Capital Featured on BNN
Right after ringing the bell, I was fortunate to be interviewed by Canada's BNN (Business News Network) about Input Capital's business.
Click this link to watch: http://watch.bnn.ca/#clip975946
Crop Update
Some members of the Input team have been out doing regular visits with Input's farming partners over the course of the growing season. They report that conditions are very good and our farming partners' crops look to be in very good condition. The crop is not yet in the bin, but the signs point to a potentially good year.
The Saskatchewan Ministry of Agriculture's crop reports from early August (found online at http://www.agriculture.gov.sk.ca/crprpt130801) said that 82% of canola crops were in good to excellent condition. More recent reports indicate that swathing and harvesting operations have begun to get underway. This is slightly later than normal, but the heat of the past week has been very beneficial in accelerating harvest operations.
New Streaming Contracts
I am also pleased to announce an update to the company's streaming contracts. In recent days, Input Capital has signed two contracts:
- Input made an adjustment to an existing contract (Contract SK-5). In the amendment, Input advanced $100,000 to the farmer in exchange for a one-year increase in the number of base tonnes by 350 tonnes for the 2013 growing season.
- Input signed a new six year streaming contact with a farmer in Northern Alberta (Contract AB-1). Input advanced $1 million in exchange for the right to purchase 888 annual base tonnes of canola, plus any bonus tonnes (15% of yield over 30 bushel/acre), at a cash price1 of $100 per tonne for the next six years. In spite of the fact that this contract was signed and completed at a time close to harvest, Input will receive 888 tonnes of canola from the harvest which is now underway.
These contracts bring Input's total attributable base tonnes of canola to 16,227 tonnes for the current fiscal year, at an average cash cost of $77.85.1
Follow Input Capital on Twitter
As relevant market news and events of interest to Input Capital take place, we post them on Twitter. Follow Input Capital on Twitter to be notified in a timely way: www.twitter.com/InputCapital
Sincerely,
Doug Emsley
Chairman & CEO
Input Capital Corp.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.
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.
The TSXV has not reviewed and does not accept responsibility for the adequacy or accuracy of this Press Release.
Note 1: Input Capital has included certain performance measures in this press release that do not have any standardized meaning prescribed by International Financial Reporting Standards (IFRS) including average cash cost per tonne of canola and cash operating margin. Average cash cost per tonne of canola is calculated by dividing the total cost of sales, less amortization, by the tonnes sold. In the farming industry, this is a common performance measure but does not have any standardized meaning. The Company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Cash operating margin is calculated by subtracting the average cash cost per tonne of canola from the average realized selling price per tonne of canola. The Company presents cash operating margin as it believes that certain investors use this information to evaluate the Company's performance in comparison to other companies in the agriculture and streaming industries who present results on a similar basis. The presentation of these non-IFRS measures is intended to provide additional information and should not be considered in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate these non-IFRS measures differently.
SOURCE: Input Capital Corp.
please refer to the Corporation's filings on SEDAR (www.sedar.com and/or our website at www.inputcapital.com. Or contact:
Doug Emsley
Chairman, President and Chief Executive Officer
(306) 347-1024
[email protected]
Brad Farquhar
Executive Vice-President & Chief Financial Officer
(306) 347-7202
[email protected]
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