REGINA, Oct. 28, 2014 /CNW/ -
Input Capital Corp. ("Input") (TSX Venture: INP) (US: INPCF),
announced a temporary set-back to its 2013 canola crop sales as a
result of the explosion at the Louis Dreyfus (LDM) canola crush
plant in Yorkton, Saskatchewan on
Friday, October 24, 2014. The plant
has been shut down for repairs, halting canola deliveries.
"We are happy to learn that nobody was injured in this explosion
at the plant," said Executive Vice-President and CFO, Brad Farquhar. "This is an unfortunate delay in
the final stages of our 2013 crop sales program, but it does not
have a material impact on our business because the prices and
volumes to be sold have been contracted for some time. However, it
will delay by several weeks the completion of our 2013 crop
deliveries and the revenue associated with it."
Mr. Farquhar went on to say: "The challenges and delays faced by
Input over the past year as a result of rail delays, bad weather,
and this explosion help demonstrate the strength of Input's
business model as a relatively safe way to invest in agricultural
production. Due to the geographically diversified nature of Input's
canola streams, strong capitalization, and the fact that we do not
take production and operating risks, the company is able to
withstand these bumps in the road as relatively immaterial
events."
Input's sales of 2014 canola continue unaffected at other
delivery points across Western
Canada.
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 multi-year 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
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. As
of the end of its last fiscal quarter, Input has multi-year canola
streams with twenty one farmers located across Alberta and 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.
(1) Non-IFRS Measures
Input measures key performance metrics established by
management as being key indicators of the Company's strength, using
certain non-IFRS performance measures, including:
- Adjusted Net Loss and Adjusted Net Income
Loss per share;
- Operating Cash Flow per share;
- Adjusted EBITDA and Adjusted EBITDA per
share;
- Average Crop Payment (Cash Cost) per
Tonne;
- Cash Operating Margin; and
- Cost per Tonne Acquired and Recycle
Ratio
The Company uses these non-IFRS measures for its own internal
purposes. These non-IFRS measures do not have any standardized
meaning prescribed by IFRS, and these measures may be calculated
differently by other companies. 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. The Company provides
these non-IFRS measures to enable investors and analysts to
understand the underlying operating and financial performance of
the Company in the same way as it is frequently evaluated by
Management. Management will periodically assess these non-IFRS
measures and the components thereof to ensure their continued use
is beneficial to the evaluation of the underlying operating and
financial performance of the Company, and to confirm that these
measures remain useful for comparison purposes to other
royalty/streaming companies. For more detailed information,
please refer to Input's Management Discussion and Analysis
available on the Company's website at www.inputcapital.com and on
SEDAR at www.sedar.com.
SOURCE Input Capital Corp.