Input Capital Corp. (Canada) Recieves First Canola Shipment Under Streaming Contract
Date Posted: October 15, 2013
Regina, SKInput Capital Corp. ("Input") (TSXV: INP) announces that it has taken delivery of canola from its first ever canola streaming contract.
On January 15, 2013, Input signed its first ever canola streaming contract (Contract SK-1) with a farmer in Central Saskatchewan.
Under the terms of that contract, the farmer agreed to deliver specified numbers of tonnes of canola to Input over the next six years, including 700 base tonnes in 2013, plus bonus tonnes consisting of 15% of any yield over 30 bushels per acre.
Last week, the farmer completed delivery of 712 tonnes of canola to a grain elevator at Raymore, Saskatchewan, and Input received payment of $359,862 from the elevator, for an average net price of $505 per tonne.
Once the final yield reconciliations are completed on this farm, the final number of bonus tonnes will be calculated and delivered to Input's account with the same grain company.
President and CEO Doug Emsley said, "Many investors have told us they want to see Input complete the circle and see capital deployed, turned into canola tonnes, and sold for cash.
"This first canola delivery completes that circle and demonstrates the strength of Input's proprietary agriculture streaming model.
"Only 9 months after deploying the capital, Input is recognizing revenue and has been paid for the first deliveries under this contract."
For more information, call 306-347-1024.