SSC Security Services Corp INPCF

INPUT CAPITAL CORP. ANNOUNCES FISCAL 2014 YEAR END RESULTS

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https://www.inputcapital.com/news/Press-Release-Details/2014/Input-Capital-Corp-Announces-Fiscal-2014-Year-End-Results/default.aspx

REGINA, /CNW/ - ("Input" or the "Company") (TSX Venture Exchange: INP) has released its audited results for the 2014 fiscal year ended . All figures are presented in Canadian dollars.

2014 Highlights (12 months)

• Revenue of .
• Canola sales of 6,549 metric tonnes ("MT" or "tonnes") from streaming contracts sold at an average price of , generating canola streaming revenue of .
• Average cash cost per MT1 of , resulting in cash operating margins1 of per MT.
• Realized canola trading gross margin of on canola trading revenues of .
• Net loss of primarily due to one-time and non-cash items related to going public and IFRS-required market value adjustments to the carrying value of the Company's canola interests.
• Without these items, the Company had an adjusted net loss1 of ( per share).
• Operating cash flow of ( per share).
• Adjusted EBITDA1 of ( per share).
• Invested into multi-year streaming contracts, adding 116,979 contracted MT to the Company's future canola sales for an average upfront cost of per MT.
• Finished the year with:
  • Cash and cash equivalents of ;
  • Total canola interests of (current portion and long-term portion);
  • Multi-year streaming contracts with 15 farm partners, with 132,740 contracted base MT of canola remaining to be delivered to the Company over the terms of the streaming contracts, of which 13,960 MT are from the 2013 harvest;
  • Total shareholder's equity of ; and
  • No debt.

Fourth Quarter Highlights (3 months)

• Revenue of .
• Canola sales of 3, from streaming contracts sold at an average price of , generating canola streaming revenue of .
• Average cash cost per MT1 of , resulting in cash operating margins1 of per MT.
• Realized canola trading gross margin of on canola trading revenues of .
• Net income of .
• Operating cash flow of ( per share).
• Invested of upfront payments into multi-year streaming contracts, adding 54,509 contracted MT to the Company's future canola sales for an average upfront cost of per MT.

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1 Please refer to to the section titled Non-IFRS Measures at the end of this press release.

Input President & CEO commented, "This marks the year end of Input's first real year of operation. In that year, we've proven the value of streaming contracts with farmers, taken the Company public, completed a financing to accelerate the growth of the business, and are well on our way to selling our portion of canola production from the 2013 crop. Our deal pipeline is bigger than ever, and we're excited about the future growth prospects for the Company."

Grant of Incentive Stock Options

Input also announces today that, pursuant to the provisions of its incentive stock option plan, the Board of Directors of Input has approved the grant of 36,600 incentive stock options to a consultant to the Company to purchase 36,600 common shares in the capital stock of the Company. The options are exercisable on or before at a price of . The options granted to the consultant vest one-half on each of the first and second anniversary of the grant date.

Grant of Deferred Share Units

Input also announces today that, pursuant to the provisions of its deferred share unit plan, the Board of Directors of Input has approved the grant of 102,728 deferred share units to the independent directors to the Company. Each independent director has elected to receive 100% of his annual board retainer in the form of deferred share units. Such deferred share units are granted on an annual basis but vested by quarterly instalments throughout the fiscal year. The number of deferred share units granted was determined by dividing the annual board retainer amount by the th closing price of the Company's common shares traded on the TSX Venture Exchange. Deferred share units are paid out in cash when a participant ceases to be a director of the Company. The deferred share unit plan does not permit the granting of shares in lieu of cash and therefore no approval of TSX Venture Exchange is required.

Webcast and Conference Call Details

A conference call will be held on Wednesday, May 28, 2014 starting at 8:30 am Saskatchewan time () to further discuss the fourth quarter and annual results. To participate in the conference call use the following dial-in number:

in – North America Toll Free: [phone]
Local Dial-In #: [phone]

Webcast URL: https://www.newswire.ca/en/webcast/detail/1348135/1490627

It is recommended that participants dial in five minutes prior to the commencement of the conference call. Soon after the completion of the call, the webcast will be available for download on the Input website.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.