Global Agribusiness Trust

Global Agribusiness Trust
Navina Capital Corp.

Navina Capital Corp.

October 31, 2007 15:26 ET

Global Agribusiness Trust Files Final Prospectus for Initial Public Offering

TORONTO, ONTARIO--(Marketwire - Oct. 31, 2007) -


Navina Capital Corp., the Manager of Global Agribusiness Trust (the "Trust") (TSX:AGB.UN)(TSX:AGB.WT), is pleased to announce that the Trust has filed and has received a receipt from the securities regulators of all the Canadian provinces and territories for the final prospectus dated October 29, 2007 for the initial public offering of up to a maximum of 10,000,000 units of the Trust at a price of $10.00 per unit. Each unit will consist of one redeemable, transferable trust unit ("Trust Unit") and a Trust Unit purchase warrant ("Warrant"). Each Warrant entitles the holder to purchase one Trust Unit at a subscription price of $10.00 on or before 5:00 p.m. on November 30, 2010. It is anticipated that the closing of the offering will be on or about November 16, 2007.

The Trust was created to provide unitholders with exposure to a portfolio comprised primarily of publicly listed businesses engaged in the demand and supply chains of the global agribusiness industry (the "Agribusiness Issuers"). The Trust will consist of 40-60 equity securities from among the world's largest Agribusiness Issuers, including companies engaged in:

- Crop and animal production
- Aquaculture
- Agrichemicals, fertilizers and crop protection
- Farm Machinery, equipment and transportation
- Food processing, distribution and retailing
- Biofuel and other related agribusinesses
- Operations that support the global agribusiness industry such as water
treatment and climate change

The Trust's investment objectives are to (a) pay monthly cash distributions initially targeted to be $0.04167 per Trust unit ($0.50 per annum representing an annual yield of 5.0% based on the $10.00 per unit issue price); and (b) provide unitholders with long-term capital appreciation.

The portfolio will be actively managed by Lawrence Asset Management Inc., a specialized global asset management firm with interests and investments in various sectors in Canada and around the world.

The offering is being made through a syndicate of agents led by CIBC World Markets Inc. that includes BMO Capital Markets, National Bank Financial Inc., TD Securities Inc., Canaccord Adams, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Raymond James Ltd., Berkshire Securities Inc., Blackmont Capital Inc., Desjardins Securities Inc., GMP Securities L.P., MGI Securities Inc., Rothenberg Capital Management Inc., Richardson Partners Financial Limited and Wellington West Capital Inc.

Contact Information

  • Navina Capital Corp.
    Andrew Bentley
    Chief Executive Officer
    (416) 601-2430 or 1-800-513-3868