According to a recent Bloomberg article: "Corn is the most common grain in the U.S., with its production historically concentrated in a Midwestern region stretching from the Ohio River valley to Nebraska and trailing off in northern Minnesota. It had been ungrowable in the fertile farmland of Canada’s breadbasket. That is changing as a warming climate, along with the development of faster-maturing seed varieties, turns the table on food cultivation. The Corn Belt is being pushed north of what was imaginable a generation ago. Growing seasons on the Canadian prairie have lengthened about two weeks in the past half-century.

1. Agcapita Update – Canadian Growing Season Lengthens 2 Weeks Over Last 50
Years, Farmland Values to Benefit?
FOR IMMEDIATE RELEASE, ATTENTION INVESTMENT EDITORS – April 17, 2014 -
Calgary
According to a recent Bloomberg article: "Corn is the most common grain in the
U.S., with its production historically concentrated in a Midwestern region
stretching from the Ohio River valley to Nebraska and trailing off in northern
Minnesota. It had been ungrowable in the fertile farmland of Canada’s
breadbasket. That is changing as a warming climate, along with the development
of faster-maturing seed varieties, turns the table on food cultivation. The Corn
Belt is being pushed north of what was imaginable a generation ago. Growing
seasons on the Canadian prairie have lengthened about two weeks in the past
half-century. The mean annual temperature is likely to climb by as much as 3
degrees Celsius (5 degrees Fahrenheit) in the region by 2050, according to
Canadian researchers."
Stephen Johnston, founder of Agcapita, a Canadian farmland investment fund,
commented "Agcapita believes that prices of Canada farmland, in particular
Saskatchewan farmland, are deeply discounted to world averages for a tonne of
productive capacity. Part of our investment premise is that this gap will close and
with the attention that Canadian farmland is receiving from investors it can
obviously happen quite quickly. It is this "margin of safety" return driver that
attracted us to Canada and Saskatchewan in the first place. In the event that the
Canadian growing season continues to lengthen, additional upward pressure
should be placed on Canadian farmland prices as productivity increases,
providing yet another return driver to the investment premise.”
Agcapita believes that farmland funds continue to show great appeal to
conservative investors concerned with inflation and the volatility of their existing
public equity investments. Canadian farmland has similar inflation hedging
qualities to gold but with an ongoing cash yield that gold lacks. Canadian
farmland returns have exhibited low volatility and this combined with higher
absolute returns equate to a favorable Sharpe ratio. Agcapita’s funds directly
hold diversified portfolios of farmland in western Canada, and in particular in the
highly price competitive province of Saskatchewan. Agcapita’s fund’s give
investors the benefit of a direct investment in farmland combined with a model of
front-end loaded cash rents. Agcapita believes farmland is a safe investment,
that supply is shrinking and that unprecedented demand for "food, feed and fuel"
will continue to move crop prices higher over the long-term. Agcapita is one of
Canada's most experienced farmland fund managers, launching its first fund in
Q1 2008.

2. This news release may contain certain information that is forward looking and, by
its nature, such forward-looking information is subject to important risks and
uncertainties. The words "anticipate," "expect," "may," "should" "estimate,"
"project," "outlook," "forecast" or other similar words are used to identify such
forward looking information. Those forward-looking statements herein made by
Agcapita, if any, reflect Agcapita's beliefs and assumptions based on information
available at the time the statements were made (including, without limitation, that
(i) the demand for agricultural commodities will continue to grow at a pace that is
unlikely to be matched by growth in agricultural productivity, and (ii) investment
demand for tangible assets such as agricultural commodities and farmland will
continue to increase for the foreseeable future). Actual results or events may
differ from those anticipated or predicted in these forward-looking statements,
and the differences may be material. Factors which could cause actual results or
events to differ materially from current expectations include, among other things:
risks associated with the ownership and operation of farmland, including
fluctuations in interest rates, rental rates and vacancy rates; general economic
conditions; local real estate markets; supply and demand for farmland;
competition for available farmland; weather; crop diseases; the price of grain and
other agricultural commodities; changes in legislation and the regulatory
environment; and international trade and global political conditions. Readers are
cautioned not to place undue reliance on any forward-looking information
contained in this news release (if any), which is given as of the date it is
expressed herein. Agcapita's undertakes no obligation to update publicly or
revise any forward-looking information, whether as a result of new information,
future events or otherwise.