REGINA, April 14, 2020 /CNW/
- Input Capital Corp. ("Input" or the
"Company") (TSX Venture: INP) announced today the
preliminary results of its modified "Dutch auction" substantial
issuer bid to purchase for cancellation up to $7,500,000 of its outstanding common shares
("Shares") from shareholders for cash (the "Offer").
The Offer expired at 5:00 p.m. (EDT)
on April 14, 2020.
In accordance with the terms and conditions of the Offer and
based on the preliminary count by TSX Trust Company, as depositary
for the Offer (the "Depositary"), the Company expects to
take up and purchase for cancellation approximately 7,418,686
Shares at a purchase price of $0.70
per Share (the "Purchase Price"). The Shares expected to be
purchased under the Offer represent approximately 12.04% of the
Shares issued and outstanding before giving effect to the Offer.
After giving effect to the Offer, approximately 54,116,971 Shares
are expected to be issued and outstanding.
The number of Shares to be purchased under the Offer are subject
to verification by the Depositary. The Company and the Depositary
expect to release the final results of the Offer, including the
final Purchase Price, on or before April 16,
2020. The Company will make the payment for the Shares
tendered and accepted for purchase by tendering the aggregate
purchase price to the Depositary on or before April 16, 2020 in accordance with the Offer and
applicable laws and the Depositary will effect payment to
shareholders promptly thereafter. Payment for the Shares will be
made in cash, without interest. Any Shares invalidly tendered or
tendered and not purchased, including Shares tendered above the
Purchase Price, will be returned to the tendering shareholder
promptly by the Depositary.
The full terms and conditions of the Offer are described in the
offer to purchase and issuer bid circular dated March 6, 2020, as well as the letter of
transmittal and other related documents, copies of which were filed
and are available without charge on SEDAR at www.sedar.com and on
the Company's website at www.inputcapital.com.
This press release is for informational purposes only and does
not constitute an offer to buy or the solicitation of an offer to
sell Shares.
ABOUT INPUT
Input is an agriculture commodity streaming company with a focus
on canola, the largest and most profitable crop in Canadian
agriculture. The Company has developed several flexible and
competitive forms of financing which help western Canadian canola
farmers solve working capital, mortgage finance and canola
marketing challenges and improve the financial position of their
farms. Under a streaming contract, Input has provided capital in
exchange for a stream of canola via multi-year fixed-volume canola
purchase contracts. As of May 2019,
Input has postponed capital deployment operations in light of
canola trade uncertainties with China and the effect of this uncertainty on
capital availability.
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 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.
