Saskatchewan Wheat Pool Inc.

Saskatchewan Wheat Pool Inc.

May 19, 2006 15:42 ET

Pool's Subscription Agreement with Mitsui Closes

REGINA, SASKATCHEWAN--(CCNMatthews - May 19, 2006) - Saskatchewan Wheat Pool Inc. (TSX:SWP) is pleased to announce that a subscription agreement with Tokyo-based Mitsui & Co. has now closed. Mitsui purchased $8 million of the Pool's common shares at a price of $7.6436 per common share on a private placement basis. The agreement was first announced on May 16, 2006.

Proceeds of Mitsui's investment will be used for general corporate purposes. With the close, the Pool has 90,250,764 common shares outstanding.

Mitsui, together with its subsidiaries and associated companies, is one of Japan's largest general trading companies. Mitsui trades in a diverse range of goods and is also engaged in international infrastructure and other major projects. Mitsui participates in sales and marketing, import and export, and international trading and manufacturing in business segments including metal products and minerals, machinery, electronics and information, chemicals, energy, and foods and retail services.

Saskatchewan Wheat Pool Inc. is a publicly traded agribusiness headquartered in Regina, Saskatchewan. Anchored by a Prairie-wide grain handling and agri-products marketing network, the Pool channels Prairie production to end-use markets in North America and around the world. These operations are complemented by value-added businesses and strategic alliances, which allow the Pool to leverage its pivotal position between Prairie farmers and destination customers. The Pool's common shares are listed on the Toronto Stock Exchange under the symbol SWP.

Contact Information

  • Saskatchewan Wheat Pool Inc.
    Colleen Vancha
    Vice-President, Investor Relations & Communications
    (306) 569-4782
    Saskatchewan Wheat Pool Inc.
    Susan Cline
    Media Relations
    (306) 569-6948
    Mitsui & Co., Ltd.
    Kaoru Shiraki
    Manager, Corporate Communication Division