Input Capital Corp. Announces Account Resolution
5/11/2016
REGINA, May 11, 2016 /CNW/ - Input Capital Corp. ("Input") (TSX Venture: INP) (US: INPCF) is pleased to announce
that it has now substantially resolved the largest of the three streaming contracts which were terminated in
November 2015.
As a result of management's determined collection efforts related to this streaming contract, the following results
have been achieved:
In late March, Input took titled possession of approximately 2,000 acres of farmland;
On May 1, a farm equipment auction was held in which approximately 60% of the equipment held as security
was auctioned. The auction was very successful, with over 800 bidders registered to bid and gross sales
exceeding the expectations of the auctioneer; and
Late yesterday, the titles to approximately 3,000 acres of additional farmland were transferred to Input.
Input has taken possession of the balance of the equipment and is planning a second auction for June 2016.
The 5,000 acres of farmland now owned by Input have been rented to local farmers for the 2016 growing season.
Input plans to market the land for sale after harvest and has already had several inquiries from potential
purchasers.
Management expects that the proceeds of the auctions and the planned land sales will result in a complete
recovery of Input's capital associated with this streaming contract.
"This resolution proves the strength of Input's security package and realization process," said President & CEO Doug
Emsley. "We have always been determined to protect our capital, and these results prove that this works in practice
and not just in theory. If a canola stream goes bad, Input's capital remains safe so that it can be recovered and
redeployed with other farmers, continuing the growth trajectory of Input's streaming business."
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM
Moon Equity Holdings, Corp. Announces Acquisition of Wikolo, Inc. • MONI • May 7, 2024 9:48 AM