Skip to main content

AGI Announces Exercise in Full of Over-Allotment Option in Connection with Public Offering of Senior Subordinated Unsecured Debentures

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESWINNIPEG, Manitoba, Nov. 22, 2019 (GLOBE NEWSWIRE) — Ag Growth International Inc. (TSX: AFN) (“AGI” or the “Company“) is pleased to announce that the underwriters of its offering of 5.25% senior subordinated unsecured debentures (the “Debentures“) exercised in full their over-allotment option, resulting in the issue of an additional $11,250,000 aggregate principal amount of Debentures, bringing the total offering to $86,250,000 aggregate principal amount of Debentures.
The Debentures have an interest rate of 5.25% per annum, have a maturity date of December 31, 2024, and are listed for trading on the Toronto Stock Exchange under the symbol “AFN.DB.G “.AGI will initially use the net proceeds of the offering to repay outstanding indebtedness under its revolving credit facilities, which facilities will then be redrawn to fund the redemption of the Company’s 5.00% convertible unsecured subordinated debentures due December 31, 2020 and for general corporate purposes.The underwriting syndicate was book run by CIBC Capital Markets, National Bank Financial Inc., RBC Capital Markets and Scotia Capital Inc., and included TD Securities Inc., Raymond James Ltd., Cormark Securities Inc., Desjardins Securities Inc. and Laurentian Bank Securities Inc.This press release is not an offer of Debentures for sale in the United States. The Debentures may not be offered or sold in the United States absent registration under the U.S. Securities Act of 1933, as amended, or an exemption from such registration. The Company has not registered and will not register the Debentures under the U.S. Securities Act of 1933, as amended. The Company does not intend to engage in a public offering of Debentures in the United States. This press release shall not constitute an offer to nor shall there be any sale of the Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful.Company ProfileAGI is a leading provider of equipment solutions for agriculture bulk commodities including seed, fertilizer, grain and feed systems with a growing platform in providing equipment and solutions for food processing facilities. AGI has manufacturing facilities in Canada, the United States, the United Kingdom, Brazil, France, Italy and India and distributes its product globally.Further information can be found in the disclosure documents filed by AGI with the securities regulatory authorities, available at www.sedar.com and on AGI’s website, www.aggrowth.com.Forward-Looking InformationThis press release contains certain forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “believe”, “plan”, “intend”, “objective”, “continuous”, “ongoing”, “estimate”, “expect”, “may”, “will”, “project”, “should” or similar words suggesting future outcomes. In particular, this press release includes forward-looking information relating to the anticipated use of the net proceeds of the offering. This information is based on current expectations that involve a number of risks and uncertainties which could cause actual results to differ from those anticipated. These risks include, but are not limited to, the potential reallocation by AGI of all or a portion of the net proceeds for business reasons, including, among others, due to results of operations or as a result of other business opportunities that may become available. Additional information on these and other factors that could affect AGI’s operations, financial results or dividend payments are included in AGI’s annual information form and other reports on file with Canadian securities regulatory authorities, which can be accessed through the SEDAR website at www.sedar.com. AGI assumes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or any other reason, other than as required by applicable securities laws. In the event AGI does update any forward- looking information, no inference should be made that it will make additional updates with respect to that information, related matters, or any other forward-looking information.For More Information Contact:Investor Relations
Steve Sommerfeld
204-489-1855
steve@aggrowth.com

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.