Business & Finance
Business and Finance
Business and Finance
Wed, November 28, 2012
Tue, November 27, 2012 Gendis Inc. Announces New Investment in Agri-Business Sector
November 27, 2012 15:29 ET
Gendis Inc. Announces New Investment in Agri-Business Sector
WINNIPEG, MANITOBA--(Marketwire - Nov. 27, 2012) - James E. Cohen, President and Chief Executive Officer of Gendis Inc. ("Gendis" or the "Company") (TSX:GDS), is pleased to announce today that the Company has made additional inroads into the agri-business sector with an investment of $1-million for the purchase of 1-million shares in the world's first and only agricultural commodity streaming company.
Input Capital Corp. ("Input Capital") is a Regina, Saskatchewan-based company that provides upfront financing to Saskatchewan canola farmers who are seeking capital. Input Capital enters into canola streaming contracts with pre-qualified Saskatchewan farmers to produce and market canola grown in the rich farmlands of eastern Saskatchewan and western Manitoba.
Commenting on the investment, Mr. Cohen said: "One of our stated goals at Gendis is to enhance our position within the burgeoning agri-business sector. This investment represents an exciting new opportunity for us and further complements our existing holdings in Western Canada-based energy companies and real estate operations."
It is the Company's intention to focus on the global agri-foods sector as a third area of involvement alongside its energy and real estate investments. "It is our view that the global agri-business sector will complement existing investments, feeding the increasing global demand for energy and related food consumption," Mr. Cohen added.
The Company is confident that its focus on the combined energy and agri-business related investment portfolio will bode well as global living standards continue to increase.
In agricultural terms, Input Capital is in the business of providing upfront financing and agronomic services to farmers in exchange for a crop share, or a share of the crop over the life of the contract. In return for upfront financing, Input Capital receives a canola streaming agreement. This agreement gives Input Capital a share of the canola produced by that farmer for between five and 10 cropping seasons.
Input Capital is a privately-held, non-operating farming company with a growing portfolio of canola streams. It plans to undertake an Initial Public Offering in late 2013.
