Input Capital Corp. Announces Update To Substantial Issuer Bid
REGINA, March 28, 2020 /CNW/ - Input Capital Corp. ("Input" or the "Company") (TSX Venture: INP) (US: INPCF) has been requested by the Financial and Consumer Affairs Authority of Saskatchewan, the Company's principal securities regulator, to provide an update to the Company's previously announced substantial issuer bid (the "Offer") in light of the COVID-19 pandemic and current market conditions.
The board of directors and management of Input Capital are monitoring and assessing the implications of the COVID-19 pandemic and current market conditions and, at this time, have determined the reasons underlying Input Capital's decision to commence an issuer bid remain unchanged. Accordingly, shareholders may continue to tender shares pursuant to the terms and conditions of the Offer. The Offer remains subject to conditions which may be asserted or waived by Input Capital, in its sole discretion acting reasonably, at any time at or prior to the expiration of the Offer at 5:00 p.m. EST on April 14, 2020 and certain of those conditions have occurred as a result of the COVID-19 pandemic and current market conditions.
None of the Company or its Board of Directors makes any recommendation to shareholders as to whether to tender or refrain from tendering any or all of their shares to the Offer or as to the purchase price or prices at which shareholders may choose to tender shares. This press release is neither an offer to purchase nor a solicitation of an offer to sell any Shares. The solicitation and the offer to purchase Shares by the Company is being made only pursuant to the offer to purchase and issuer bid circular. Shareholders of the Company are urged to read the formal offer to purchase and issuer bid circular, in particular the conditions to the Offer which are expressly reserved by the Company and not amended, modified, asserted or waived by the Company by this press release, prior to making any decision with respect to the Offer.
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.