Alliance Grain Traders Inc.
TSX : AGT

April 07, 2010 07:59 ET

Alliance Grain Traders Inc. to Issue Common Shares

REGINA, SASKATCHEWAN and TORONTO, ONTARIO--(Marketwire - April 7, 2010) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

Alliance Grain Traders Inc. (TSX:AGT) ("AGTI") is pleased to announce that it has entered into an agreement with a syndicate of underwriters (the "Underwriters") co-led by Genuity Capital Markets and Canaccord Financial and including GMP Securities, Cormark Securities, Macquarie Capital Markets, and Wellington West Capital Markets, pursuant to which the Underwriters have agreed to buy 1,750,000 common shares (the "Common Shares") from AGTI at a price of $32 per Common Share, representing an aggregate amount of issue of $56,000,000. AGTI has also granted the Underwriters an option exercisable in whole or in part, at the $32 offering price for a period of up to 30 days following the closing date, to purchase up to an additional 262,500 Common Shares to cover over-allotments, if any.

The net proceeds of the offering will be used to finance AGT's growth strategy, working capital requirements and general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. 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 securities in any State in which such offer, solicitation or sale would be unlawful.

About Alliance Grain Traders Inc.

AGTI is a pulse processor and exporter engaged in the business of value-added processing (cleaning, splitting, sorting and bagging) of pulses and specialty crops, for export and domestic markets. Through its processing facilities located in some of the best pulse growing regions in Canada, the U.S., Turkey and Australia, AGTI handles a full range of pulses and specialty crops including lentils, peas, chickpeas, beans and canary seed. Through its subsidiaries in Turkey, AGTI also produces Arbella Pasta, rice, and milled wheat products, such as bulgur and semolina. 

Cautionary Statements

Certain statements in this press release are forward-looking statements. The reader is cautioned that assumptions used in the preparation of such information, although considered reasonable by AGTI at the time of preparation, may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of AGTI (including its operating subsidiaries) to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the actual results of harvests, fluctuations in the price of lentils and other crops, failure of plant, equipment or processes to operate as anticipated, accidents or labour disputes, risks relating to the integration of acquisitions or to international operations as well as those factors referred to in the section entitled "Risk Factors" in the Annual Information Form of AGTI dated March 30, 2010 which is available on SEDAR at www.sedar.com, and which should be reviewed in conjunction with this document. Although AGTI has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. AGTI expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release

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