Input Capital Corp. comments on Canada-China canola dispute
Input Capital Corp. comments on Canada-China canola dispute
Canada NewsWire
REGINA, Aug. 12, 2016
REGINA, Aug. 12, 2016 /CNW/ - Input Capital Corp. ("Input" or the "Company") (TSX Venture: INP) (US: INPCF) released the following statement in response to recent media reports regarding Canada's canola trade with China:
"While we are watching the Canada-China trade discussions with some interest, there are no near-term implications for our business," said President and CEO Doug Emsley. "Well over 80% of our planned canola sales for this year are to domestic crushers, whose businesses are not reliant on canola seed sales to China. Furthermore, we took steps earlier this year to establish pricing via delivery contracts with these crushers and other grain handlers. Over 94% of our anticipated canola sales are already contracted and booked at an average net realized price in excess of $485 per MT.
"Canola is Canada's number one export to China. As a result, we fully expect this situation to be resolved before long and we support industry and government initiatives to do so. Input Capital is also well resourced and stands ready to use our streaming solution to assist farmers whose near-term cash flow may be constrained should the dispute take longer to resolve than the current September 1 deadline."
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.
SOURCE Input Capital Corp.
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