The Offer is to wholesale investors of Units representing partnership capital in Gold Income LP, a Limited Partnership to be formed to acquire established SunGold orchards during calendar year 2021.
Subject to the success of this Offer, the Partnership will purchase orchards and meet orchard purchase costs and syndicate establishment costs using a combination of contributed capital to be raised in this Offer and bank debt to a maximum overall loan to value ratio (‘LVR’) of 35%. The calculation of LVR excludes establishment fees and costs. The LVR for a particular orchard purchase may go as high as 50% in the short term to fund the initial settlement.
The Offer is to raise $15m of partnership capital in Gold Income LP, plus over-subscriptions at the Offeror's discretion. The minimum amount that must raised in the Offer is $7 million (7 million Units on a fully paid basis). The amount of capital raised in the Offer will determine the number of SunGold orchards that can be purchased (one or more) and the rate that unpaid capital is called.
The minimum investment is $50,000 and thereafter the size of an investment can be increased in multiples of $10,000 (10,000 Units). Payment of $0.20/Unit is due at the time of application. Payment of unpaid capital will be called in multiples of $0.10/Unit and subject to 20 business days notice.
As a limited partner the maximum amount payable is $1.00 per Unit and no other payments are required to be made other than those specifically agreed to.
IMPORTANT DATES: Initial Closing Date 10th March 2021 subject to raising a minimum of $7 million on a fully paid basis. Final Closing Date – 15th April 2021.