UNITY - North West Terminal Ltd. has announced the launch of a $2 million proposed subordinated unsecured notes offering through a non-brokered private placement. The notes will carry a 10 per cent per annum interest rate and have a five-year maturity date. The private placement will be conducted in accordance with the accredited investor exemption.
The net proceeds from the offering will be used for the construction of warehouses for the aging of alcohol and for general corporate purposes. The offering has a minimum of $500,000 and a maximum of $2 million, with a minimum investment of $25,000 per investor.The expected closing date for the offering is April 26, 2023.
"The board is excited to be launching this funding series, as it provides potential investors an opportunity to earn interest income directly from the Company," said Brad Sperle, president of NWT. "The money raised under this private placement is expected to assist with building warehouses for aging alcohol. This new business line is part of NWT's strategic goal to add value to grain produced in Saskatchewan," Sperle added.
Sperle, who farms near Unity, Saskatchewan, leads the farmer-shareholder owned company based in the North West region of the province.
NWT owns and operates an inland-grain terminal and a plant-based fermentation facility at its Unity location. NWT is also a minority owner of Alliance Seed Corp. (ASC) in Winnipeg, Manitoba, and Alliance Grain Terminal Ltd. (AGT) in Vancouver, B.C.
