Latest news with #AgGrowthInternational
National Post
3 days ago
- Business
- National Post
AGI Announces Closing of $85 Million Public Offering of Senior Subordinated Unsecured Debentures
Article content Article content WINNIPEG, Manitoba — Ag Growth International Inc. (TSX: AFN) ('AGI' or the 'Company') is pleased to announce that it has closed the previously announced public offering of $85 million aggregate principal amount of senior subordinated unsecured debentures (the 'Debentures') at a price of $1,000 per Debenture (collectively, the 'Offering'). A syndicate led by CIBC Capital Markets and including National Bank Financial, TD Securities Inc., Scotia Capital Inc., ATB Securities Inc., BMO Capital Markets, RBC Capital Markets, Desjardins Capital Markets, Raymond James and Cormark Securities Inc. (collectively, the 'Underwriters') acted as underwriters for the Offering. Article content The Debentures bear interest at 7.50% per annum, payable semi-annually in arrears on June 30 and December 31 each year, commencing December 31, 2025. The Debentures have a maturity date of June 30, 2030, and are listed for trading on the Toronto Stock Exchange under the symbol ' Article content AGI has granted the Underwriters an over-allotment option, exercisable in whole or in part for a period expiring 30 days following closing of the Offering, to purchase up to an additional $12.75 million aggregate principal amount of Debentures at the same price per Debenture. Article content The net proceeds of the Offering will initially be used to repay indebtedness under the Company's senior operating credit lines, which will then be available to be redrawn for general corporate purposes. Article content AGI Company Profile Article content AGI is a provider of the physical equipment and digital technology solutions required to support global food infrastructure including grain, fertilizer, seed, feed, and food processing systems. AGI has manufacturing facilities in Canada, the United States, the United Kingdom, Brazil, India, France, and Italy and distributes its product globally. Article content 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 sell, nor shall there be any sale of, the Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful. Article content CAUTIONARY STATEMENTS Article content This press release contains forward-looking statements and information [collectively, 'forward-looking information'] within the meaning of applicable securities laws. All information and statements contained herein that are not clearly historical in nature constitute forward-looking information. Forward-looking information involves known or unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Undue reliance should not be placed on forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which it is based will occur. In particular, the forward-looking information in this press release includes information relating to the anticipated use of the net proceeds of the Offering. Such forward-looking information reflects our current beliefs and is based on information currently available to us, including certain key expectations and assumptions. Forward-looking information involves significant risks and uncertainties. A number of factors could cause actual results to differ materially from results discussed in the forward-looking information, including, but 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 to the Company. Additional risks and uncertainties are described under 'Risks and Uncertainties' in our management's discussion and analysis and in our most recently filed Annual Information Form, all of which are available under the Company's profile on SEDAR+ [ Article content Article content ]. These factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking information. We cannot assure readers that actual results will be consistent with this forward-looking information. The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. The forward-looking information included in this press release is made as of the date of this press release and AGI undertakes no obligation to publicly update such forward-looking information to reflect new information, subsequent events or otherwise unless so required by applicable securities laws. Article content Article content Article content Article content Article content Contacts Article content For More Information Contact: Article content Article content Andrew Jacklin Article content Article content Article content
National Post
04-06-2025
- Business
- National Post
AGI Announces Filing of Final Prospectus
Article content Article content NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES Article content WINNIPEG, Manitoba — Ag Growth International Inc. (TSX: AFN) ('AGI' or the 'Company') is pleased to announce today that it has filed, and obtained a receipt for, a final short form prospectus (the 'Prospectus') in each of the provinces of Canada, other than Québec, with respect to the previously announced bought deal offering of $85 million principal amount of 7.50% senior subordinated unsecured debentures (the 'Offering') through a syndicate of underwriters (the 'Underwriters') led by CIBC Capital Markets. The Company has also granted the Underwriters an option to purchase up to an additional $12.75 million aggregate principal amount of Debentures, on the same terms and conditions, exercisable in whole or in part, from time to time, up to 30 days following the closing of the Offering. Article content Access to the Prospectus and any amendment thereto is provided in accordance with securities legislation relating to procedures for providing access to a prospectus and any amendment thereto. The Prospectus and any amendment thereto is accessible on SEDAR+ at An electronic or paper copy of the Prospectus and any amendment thereto may be obtained, without charge, by contacting CIBC Capital Markets at 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8, by phone at (416) 956-6378 or by email at by providing the contact with an email address or address, as applicable. Prospective investors should read the Prospectus in its entirety before making an investment decision. Article content The closing of the Offering is expected to occur on June 9, 2025, subject to customary closing conditions. Article content AGI Company Profile Article content AGI is a provider of the equipment and solutions required to support the efficient storage, transport, and processing of food globally. AGI has manufacturing facilities in Canada, the United States, Brazil, India, France, and Italy and distributes its product worldwide. Article content 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 sell, nor shall there be any sale of, the Debentures in any jurisdiction in which such offer, solicitation or sale would be unlawful. Article content FORWARD LOOKING STATEMENTS Article content This press release contains certain forward–looking information and statements within the meaning of applicable securities laws. The use of any of the words 'expect', 'anticipate', 'continue', 'estimate', 'may', 'will', 'project', 'should', 'believe', 'plans', 'intends' and similar expressions are intended to identify forward-looking information or statements. In particular, but without limiting the forgoing, this press release contains statements concerning the over-allotment option and the closing date of the Offering. Although AGI believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them because AGI can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements contained in this press release are made as of the date hereof and AGI undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Article content Article content Article content Article content Article content Contacts Article content For More Information Contact: Article content Article content Article content Article content
Associated Press
02-06-2025
- Business
- Associated Press
AGI Announces Board Chair and Committee Chair Appointments
WINNIPEG, Manitoba--(BUSINESS WIRE)--Jun 2, 2025-- Ag Growth International Inc. (TSX: AFN) ('AGI', the 'Company', 'we', or 'our') announced today the appointment of Daniel Halyk as Chair of the Board of Directors effective immediately. Mr. Halyk succeeds the outgoing Chair, Janet Giesselman, who stepped down prior to this year's Annual General Meeting and who had served in the Board Chair role since 2023. 'Dan is a thoughtful, strategic leader with diverse skills that will be highly valuable for AGI as we execute our strategy,' said Paul Householder, President & CEO of AGI. 'Dan's extensive operational experience will be a tremendous asset for the Company as we implement our global growth plans. I look forward to partnering closely with Dan and the entire Board to deliver on our commitments to shareholders, customers, and employees. We are equally grateful to Janet for her steady leadership and commitment to AGI over the past ten plus years.' 'It's an honor to take on this role at such an important time for AGI,' commented Daniel Halyk. 'AGI has some exciting opportunities to grow its business and enhance shareholder returns. I'm committed to supporting the leadership team and working with my fellow Board members to deliver meaningful, positive business outcomes while providing appropriate governance and oversight.' In addition, several other Committee Chair appointments were made to further strengthen Board oversight and will serve to support the Company in the execution of its strategic plan. These include: 'These leadership appointments mark an important step forward in AGI's commitment to strong governance and shareholder returns,' remarked Mr. Halyk. 'On behalf of the entire Board of Directors, I'd like to thank our shareholders for their trust and support.' View source version on CONTACT: Andrew Jacklin Sr. Director, Investor Relations +1-437-335-1630 [email protected] KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: OTHER MANUFACTURING TECHNOLOGY AGRITECH TRANSPORT MANUFACTURING FOOD/BEVERAGE LOGISTICS/SUPPLY CHAIN MANAGEMENT AGRICULTURE RETAIL NATURAL RESOURCES SOURCE: Ag Growth International Inc. Copyright Business Wire 2025. PUB: 06/02/2025 07:00 AM/DISC: 06/02/2025 06:58 AM
National Post
21-05-2025
- Business
- National Post
AGI Provides Governance Update
Article content Article content WINNIPEG, Manitoba — Ag Growth International Inc. (TSX: AFN) ('AGI', the 'Company', 'we' or 'our') announced today that Janet Giesselman, the Chair of AGI's Board of Directors and a director since March 2013, and Anne De Greef-Safft, the Chair of AGI's Human Resources and Compensation Committee and a director since December 2018, have advised AGI that they will not be standing for re-election at the Annual General Meeting of shareholders (the 'AGM') that will take place on May 21, 2025. Article content There are now seven candidates standing for election at the AGM: Rohit Bhardwaj; Jean-Philippe Choquette; Mike Frank; Daniel Halyk; Paul Householder; Corrine Ricard; and Mary Shafer-Malicki. The Board of Directors will select a new Chair in due course. Article content AGI's Board of Directors thanks Ms. Giesselman and Ms. De Greef-Safft for their significant contributions and service to AGI and its shareholders during their tenure. Article content AGI Company Profile AGI is a provider of the equipment and solutions required to support the efficient storage, transport, and processing of food globally. AGI has manufacturing facilities in Canada, the United States, Brazil, India, France, and Italy and distributes its product worldwide. Article content Article content Article content Article content Contacts Article content Article content
Yahoo
08-05-2025
- Business
- Yahoo
Ag Growth International Inc. (TSE:AFN) First-Quarter Results: Here's What Analysts Are Forecasting For This Year
It's been a good week for Ag Growth International Inc. (TSE:AFN) shareholders, because the company has just released its latest first-quarter results, and the shares gained 9.1% to CA$36.23. Ag Growth International beat revenue forecasts by a solid 13%, hitting CA$287m. Statutory losses also blew out, with the loss per share reaching CA$0.90, some 94% bigger than the analysts expected. This is an important time for investors, as they can track a company's performance in its report, look at what experts are forecasting for next year, and see if there has been any change to expectations for the business. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. Taking into account the latest results, Ag Growth International's seven analysts currently expect revenues in 2025 to be CA$1.35b, approximately in line with the last 12 months. Earnings are expected to improve, with Ag Growth International forecast to report a statutory profit of CA$2.14 per share. Before this earnings report, the analysts had been forecasting revenues of CA$1.32b and earnings per share (EPS) of CA$2.66 in 2025. So it's pretty clear the analysts have mixed opinions on Ag Growth International after the latest results; even though they upped their revenue numbers, it came at the cost of a real cut to per-share earnings expectations. See our latest analysis for Ag Growth International There's been no major changes to the price target of CA$48.50, suggesting that the impact of higher forecast revenue and lower earnings won't result in a meaningful change to the business' valuation. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. The most optimistic Ag Growth International analyst has a price target of CA$55.00 per share, while the most pessimistic values it at CA$40.00. Analysts definitely have varying views on the business, but the spread of estimates is not wide enough in our view to suggest that extreme outcomes could await Ag Growth International shareholders. These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Ag Growth International's past performance and to peers in the same industry. We would highlight that revenue is expected to reverse, with a forecast 2.4% annualised decline to the end of 2025. That is a notable change from historical growth of 9.0% over the last five years. By contrast, our data suggests that other companies (with analyst coverage) in the same industry are forecast to see their revenue grow 8.7% annually for the foreseeable future. So although its revenues are forecast to shrink, this cloud does not come with a silver lining - Ag Growth International is expected to lag the wider industry. The biggest concern is that the analysts reduced their earnings per share estimates, suggesting business headwinds could lay ahead for Ag Growth International. They also upgraded their revenue estimates for next year, even though it is expected to grow slower than the wider industry. There was no real change to the consensus price target, suggesting that the intrinsic value of the business has not undergone any major changes with the latest estimates. Keeping that in mind, we still think that the longer term trajectory of the business is much more important for investors to consider. We have estimates - from multiple Ag Growth International analysts - going out to 2027, and you can see them free on our platform here. And what about risks? Every company has them, and we've spotted 1 warning sign for Ag Growth International you should know about. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
