Market Overview

BIOCERES and UNION ACQUISITION CORP. announce Bioceres' unaudited quarterly operating results for the period ended December 31, 2018


Union Acquisition Corp.'s Sponsor and/or affiliates announce
intent to make open market purchases of Union's securities

Bioceres, a leading Latin American agricultural biotech company (the
"Company"), and Union Acquisition Corp. (NYSE:LTN) ("UAC"), a special
purpose acquisition company, today announced the Company's unaudited
operating results for the quarter ended December 31, 2018. The parties
had previously announced the execution of a definitive share exchange
agreement (the "Exchange Agreement") pursuant to which the Company will
contribute its agricultural solutions business in exchange for equity of

The Company reported unaudited revenues of $62.6 million during the
quarter ended December 31, 2018, which represents a 33% growth rate over
the same period a year ago. The adjustments and the translation
mechanism from the application of IAS 29 had a positive impact of $8.7
million during the quarter ended December 31, 2018. Additionally, the
Company's management team expects Gross Profit and EBITDA margin
performance to exceed that of the same period a year ago.

Members of UAC's sponsor and, or entities affiliated with members of the
sponsor, today announced their intent to make purchases of up to $3
million of UAC's ordinary shares, rights and/or warrants in the open
market in their discretion. The actual number of shares, rights and/or
warrants which will be purchased, and the timing of such purchases, will
be determined by the members of UAC's sponsor, or entities affiliated
with members of the sponsor, and the price which the Company will pay
for the securities will be the market price at the time of the
purchases. It is anticipated that any such purchases will be made in
accordance with the applicable provisions of Securities and Exchange
Commission ("SEC") Rule 10b-18, to the extent applicable.

About Bioceres

Bioceres is a fully integrated provider of crop productivity solutions,
including seeds, seed traits, seed treatments, biologicals, high-value
adjuvants and fertilizers. Unlike most industry participants that
specialize in a single technology, chemistry, product, condition or
stage of plant development, Bioceres has developed a multi-discipline
and multi-product platform capable of providing solutions throughout the
entire crop cycle, from pre-planting to transportation and storage.
Bioceres' platform is designed to cost effectively bring high value
technologies to market through an open architecture approach. Bioceres'
headquarters and primary operations are based in Argentina, which is its
key end-market as well as one of the largest markets globally for GM
crops. Through its main operational subsidiary, Rizobacter, the Company
has a growing and significant international presence, particularly in
Brazil and Paraguay. Bioceres leverages its relationship with its
historical shareholders, many of whom are agricultural leaders and key
participants in Bioceres' end markets, to increase adoption of its
products and technologies.

Bioceres Investment Highlights:

  • Leading position in large and growing agricultural markets with
    favorable industry dynamics, with a focus on biological assets aimed
    at crop protection, nutrition and seeds.
  • Global leader in drought-tolerance technologies, through the HB4
    family of products – the only technology of its type available today
    for soybean production.
  • Through the Rizobacter brand, Bioceres is a world leader in production
    and sale of soybean biologicals, with over 20% global market share in
  • Extensive distribution & commercial platform with over 700
    distributors globally and sales in 25 different countries.
  • Proven track-record of delivering strong financial results.

About UAC

Union Acquisition Corp. is a blank check company organized for the
purpose of effecting a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization, or other similar business
combination with one or more businesses or entities. UAC's efforts to
identify a prospective target business are not limited to any particular
industry or geographic region, although UAC has focused on target
businesses located in Latin America. UAC is led by Juan Sartori,
Chairman of the Board of UAC and Chairman and founder of Union Group
International Holdings Limited, and Kyle P. Bransfield, Chief Executive
Officer of UAC and Partner of Atlantic-Pacific Capital, Inc.

Forward Looking Statements

This communication includes "forward looking statements" within the
meaning of the "safe harbor" provisions of the United States Private
Securities Litigation Reform Act of 1995. Forward-looking statements may
be identified by the use of words such as "forecast," "intend," "seek,"
"target," "anticipate," "believe," "expect," "estimate," "plan,"
"outlook," and "project" and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. Such forward looking statements include estimated
financial information. Such forward looking statements with respect to
revenues, earnings, performance, strategies, prospects and other aspects
of the businesses of UAC, Bioceres or the combined company after
completion of the business combination are based on current expectations
that are subject to known and unknown risks and uncertainties, which
could cause actual results or outcomes to differ materially from
expectations expressed or implied by such forward-looking
statements. These factors include, but are not limited to: (1) the
occurrence of any event, change or other circumstances that could give
rise to the termination of the Exchange Agreement and the proposed
business combination contemplated therein; (2) the inability to complete
the transactions contemplated by the Exchange Agreement due to the
failure to obtain the approval of the shareholders, or other conditions
to closing in the Exchange Agreement; (3) the ability of UAC to continue
to meet applicable NYSE listing standards; (4) the risk that the
proposed business combination disrupts current plans and operations of
Bioceres as a result of the announcement and consummation of the
transactions described herein; (5) the ability to recognize the
anticipated benefits of the proposed business combination, which may be
affected by, among other things, competition, the ability of the
combined company to grow and manage growth profitably, maintain
relationships with customers and suppliers and retain its management and
key employees; (6) costs related to the proposed business combination;
(7) changes in applicable laws or regulations; (8) the possibility that
Bioceres may be adversely affected by other economic, business, and/or
competitive factors; and (9) other risks and uncertainties indicated
from time to time in the definitive registration statement of UAC in
connection with the proposed business combination and the proxy
statement/prospectus contained therein, including those under "Risk
Factors" therein, and other documents filed or to be filed with the SEC
by UAC. Investors are cautioned not to place undue reliance upon any
forward-looking statements, which speak only as of the date made. UAC
and Bioceres undertake no commitment to update or revise the
forward-looking statements, whether as a result of new information,
future events or otherwise. Investors should carry out their own due
diligence in connection with the assumptions contained herein. The
forward-looking statements in this communication speak as of the date of
this communication. Although UAC may from time to time voluntarily
update its prior forward-looking statements, it disclaims any commitment
to do so whether as a result of new information, future events, changes
in assumptions or otherwise except as required by applicable securities

Additional Information and Where to Find It

In connection with the proposed transaction, UAC has filed a
Registration Statement on Form S-4, which includes a preliminary proxy
statement/prospectus of UAC. Once the Registration Statement is declared
effective by the SEC, UAC will mail a definitive proxy
statement/prospectus and other relevant documents to its shareholders.

Investors and security holders of UAC are advised to read the
preliminary proxy statement/prospectus, and amendments thereto, and when
available, the definitive proxy statement/prospectus in connection with
UAC's solicitation of proxies for its extraordinary general meeting of
shareholders to be held to approve the proposed transaction because the
proxy statement/prospectus will contain important information about the
proposed transaction and the parties to the proposed transaction.

Shareholders are also able to obtain copies of the Registration
Statement, including the proxy statement/prospectus, without charge on
the SEC's website at,
or by directing their request to: Union Acquisition Corp., 400 Madison
Ave., Suite 11A, New York, NY 10017.

No Offer or Solicitation

This announcement is for informational purposes only and is neither an
offer to sell, nor a solicitation of an offer to buy any securities or
the solicitation of any vote in any jurisdiction pursuant to the
proposed transactions or otherwise, nor shall there be any sale,
issuance or transfer of securities in any jurisdiction in which the
offer, solicitation, or sale would be unlawful prior to the registration
or qualification under the securities laws of any such jurisdiction. No
offer of securities shall be made except by means of a prospectus
meeting the requirements of Section 10 of the Securities Act of 1933, as

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