Q2 Financial Report - 2014

Ag Growth International Inc.
NOTES TO UNAUDITED INTERIM CONDENSED
CONSOLIDATED FINANCIAL STATEMENTS
[in thousands of Canadian dollars, except where otherwise noted and per share data]
June 30, 2014
Levies ["IFRIC 21"]
IFRIC 21 provides guidance on accounting for levies in accordance with the requirements of
IAS 37, Provisions, Contingent Liabilities and Contingent Assets. The interpretation defines a levy
as an outflow from an entity imposed by a government in accordance with legislation. It also notes
that levies do not arise from executor contracts or other contractual arrangements. The
interpretation also confirms that an entity recognizes a liability for a levy only when the triggering
event specified in the legislation occurs. The application of IFRIC 21 has not materially impacted
the unaudited interim condensed consolidated financial statements.
These unaudited interim condensed consolidated financial statements do not include all the
information and notes required by IFRS for annual financial statements and therefore should be
read in conjunction with the audited annual consolidated financial statements and notes for the
Company's fiscal year ended December 31, 2013, which are available on SEDAR at
www.sedar.com.
[b] Basis of preparation
The unaudited interim condensed consolidated financial statements are presented in Canadian
dollars, which is also the functional currency of the parent company Ag Growth International Inc.
All values are rounded to the nearest thousand. They are prepared on the historical cost basis,
except for derivative financial instruments and available-for-sale investments, which are measured
at fair value.
Accounting measurements at interim dates, rather than at year end, inherently involve a greater
reliance on estimates. In the opinion of management, the unaudited interim condensed
consolidated financial statements include all adjustments of a normal recurring nature to present
fairly the unaudited interim condensed consolidated financial position of the Company as at
June 30, 2014.
[c] New standards issued but not yet effective
Standards issued but not yet effective up to the date of issuance of the Company’s unaudited
interim condensed consolidated financial statements are listed below. This listing is of standards
and interpretations issued, which the Company reasonably expects to be applicable at a future
date. The Company intends to adopt those standards when they become effective.
Financial instruments: classification and measurement ["IFRS 9"]
IFRS 9 as issued reflects the first phase of the IASB’s work on the replacement of the existing
standard for financial instruments [“IAS 39”] and applies to classification and measurement of
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