Mission Produce Inc T.AVO

Primary Symbol: AVO

Consumer Defensive Packaged Foods

Mission Produce, Inc. is engaged in the farming, packaging, marketing, and distribution of avocados to food retailers, distributors and produce wholesalers. It operates through three segments: Marketing and Distribution, International Farming, and Blueberries. Its Marketing and Distribution segment sources fruit from growers and then distributes the fruit through its global distribution network. Its International Farming segment owns and operates orchards from which all fruit produced is sold to its Marketing and Distribution segment. Its farming activities range from cultivating early-stage plantings to harvesting from mature trees. Its Blueberries segment is a farming operation that cultivates blueberry plants in Peru. It provides value-added services including ripening, bagging, custom packaging, logistical management, and quality assurance. The Company also provides its customers with merchandising and promotional support, insights on market trends and hands-on training.

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Post by Clarenceon May 08, 2017 8:31am

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Post# 26215398

Good news for todays SP !

Avigilon Enters Into Agreement to Sell Office Tower for $107.5M

~Sale and leaseback frees cash, reduces debt, and secures facility~

VANCOUVER, CANADA, May 8, 2017 /CNW/ - Avigilon Corporation ("Avigilon" or the "Company") (TSX: AVO), provider of trusted security solutions, today announced that it has entered into an agreement to sell the Company's downtown Vancouver office tower and associated land (the "Building") for expected gross proceeds of approximately CAD $107.5M (the "Transaction"). Avigilon will lease back the Building, thereby securing its facility needs while reducing its debt, providing cash for general working capital purposes, and enhancing shareholder value.

"We're very pleased with the investment we made in the Building," said Alexander Fernandes, Avigilon's Founder, President, Chief Executive Officer and Chairman of the Board. "The Transaction unlocks over $100 million in cash, will substantially reduce our debt, and secures a state-of the-art facility to support our growing business."

Avigilon purchased the Building in November 2015 for CAD $42M. Renovations on the Building are nearing completion, and Avigilon expects to move in Q2 2017.

The Transaction is subject to certain conditions that are typical for a transaction of this nature, including completion of the purchaser's due diligence, completion of applicable filings under the Competition Act (Canada), satisfaction of Avigilon's obligations under its credit facility, and finalization of the terms of the Building lease.

About Avigilon

Avigilon Corporation provides trusted security solutions to the global market. Avigilondesigns, develops, and manufactures video analytics, network video management software and hardware, surveillance cameras, and access control solutions. To learn more about Avigilon, visit avigilon.com.

For further information:

Investor Enquiries:
Darren Seed
Vice President, Capital Markets & Communications
T: (604) 629-5182
investors@avigilon.com

Media Enquiries:
Amy Day
Manager, Global Communications
T: (604) 629-5182 x2625
media@avigilon.com