By Bill Preston
Congratulations to Assiniboia Farmland Limited Partnership 4 for the initial closing of its public offering. Patricia Warsaba along with Melvin Gerspacher, Chris Donald, Liz Nash and Dean Stanley were pleased to have the opportunity to work once again on this uniquely Saskatchewan offering.
ASSINIBOIA FARMLAND LIMITED PARTNERSHIP 4 COMPLETES FIRST CLOSING OF INITIAL PUBLIC OFFERING
August 13, 2008
Regina, Saskatchewan – Assiniboia Farmland Limited Partnership 4 (the “Partnership”) is pleased to announce the completion of the first closing of its initial public offering of limited partnership units. The Partnership issued 167,080 Class A and 155,200 Class F limited partnership units at a price of $25.00 per unit for gross proceeds of $8,057,000. Units will continue to be offered for sale and one or more additional closings may occur until December 1, 2008.
The net proceeds of the offering, together with any borrowings by the Partnership, will be invested in a portfolio of productive Saskatchewan farmland properties, which Assiniboia Farmland GP 4 Corp., the general partner of the Partnership, believes will benefit from increasing global demand for agricultural commodities resulting from the growing worldwide demand for (i) food, driven by countries such as China and India, and (ii) for ethanol and biofuels which can be produced from crops such as corn, wheat, canola and soybeans.
The Partnership’s investment objectives are: (i) to maximize long-term total returns for Limited Partners; and (ii) to provide semi-annual distributions of its available cash to limited partners of the Partnership.
The syndicate for the offering is co-led by CIBC World Markets Inc. and RBC Dominion Securities Inc. and includes Scotia Capital Inc., Richardson Partners Financial Limited, Wellington West Capital Inc., Manulife Securities Incorporated, Canaccord Capital Corporation, Dundee Securities Corporation, Raymond James Ltd. and Research Capital Corporation.
Additional information about the Partnership is available on SEDAR (www.sedar.com).
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the limited partnership units in any jurisdiction in which such offer, solicitation or sale would be unlawful.
For more information:
President and Chief Executive Officer