Navina Capital Corp.

Navina Capital Corp.

October 15, 2007 09:00 ET

Global Agribusiness Trust Files Preliminary Prospectus

TORONTO, ONTARIO--(Marketwire - Oct. 15, 2007) - Navina Capital Corp. is pleased to announce that a preliminary prospectus for Global Agribusiness Trust (the "Trust") has been filed with the securities regulatory authorities in each of the Canadian provinces and territories for an initial public offering of units of the Trust. 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 pm on November 30, 2010.

The Trust was created to provide unitholders with exposure to a portfolio comprised primarily of publicly listed businesses engaged in 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 Nesbitt Burns Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corporation, 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
    Website: www.navinacapital.com