REGINA, April 16, 2020 /CNW/ -
Input Capital Corp. ("Input" or the "Company") (TSX
Venture: INP) announced today the final 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.
Based on the final count by TSX Trust Company, as depositary for
the Offer (the "Depositary"), the Company has taken up and
paid for 7,418,686 Shares at a purchase price of $0.70 per Share (the "Purchase
Price"), for an aggregate purchase price of approximately
$5,193,080.20 excluding fees and
expenses relating to the Offer. The Shares purchased for
cancellation 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 issued and outstanding.
The Company has made payment for the Shares tendered and
accepted for purchase by tendering the aggregate purchase price to
the Depositary in accordance with the Offer and applicable laws,
and payment to the shareholders will be done by the Depositary.
Payment for the Shares will be made in cash, without interest. Any
Shares invalidly tendered or tendered and not purchased will be
returned to the tendering shareholder promptly by the
Depositary.
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.
