On July 16, 2008, Alliance Grain Traders Income Fund (TSX-V: AGT.UN) announced that it had completed a private placement of 970,000 units at a price of $15.50 per unit for gross proceeds of $15,035,000. The Fund plans to use the net proceeds of this financing for acquisitions, working capital and general corporate purposes. The private placement was brokered by Wellington West Capital Markets Inc., leading a syndicate of agents that included Genuity Capital Markets and First Republic Capital Corp. The Fund is an income trust which derives its income from the operations of its operating subsidiary, Alliance Pulse Processors Inc., which is engaged in the business of sourcing and processing specialty crops, primarily for export markets. The Fund's companies in Canada, the U.S. and Australia handle the full range of pulses and specialty crops including lentils, peas, chickpeas, beans and canary seed through six processing plants. The Fund was advised in this transaction by a team from Fasken Martineau that included, among others, Gary Fogler, Bozidar Crnatovic and Daye Kaba.