TORONTO and WICHITA, KS, Nov. 17,
2015 /CNW/ - Ceres Global Ag Corp. (TSX: CRP) ("Ceres" or
the "Corporation") announced today that it has entered into an
agreement with Koch Fertilizer Canada, ULC ("Koch"), for the
storage and handling of dry fertilizer products at Ceres' Northgate
Commodities Logistics Centre in Northgate, Saskatchewan at the Canada-United
States border.
Once constructed, the Ceres facility will
include three storage bays with a total capacity of approximately
26,000 short tons. Koch will have exclusive use of the facility
upon its completion in May of 2017.
"This agreement with Koch is an important
milestone in our build-out of the Northgate facility," stated
Patrick Bracken, chief executive
officer of Ceres. "The addition of fertilizer to the suite of
commodities that we are able to handle at Northgate will further
diversify and grow our revenue at this facility. In addition,
we expect that Ceres' ability to offer fertilizer distribution will
make Northgate a more attractive destination for farmers to sell
their grain. The opportunity for farmers to backhaul
fertilizer is expected to increase Northgate's draw area in
Saskatchewan and Manitoba for grain origination."
"We continue to look for innovative ways to provide a portfolio
of fertilizer products to our customer base," said Todd Minnihan, managing director, for Koch
Fertilizer Canada, ULC. "The relationship with Ceres will help
Koch serve the needs of our Western Canadian customers."
About Ceres Global Ag Corp.
(ceresglobalagcorp.com)
Ceres Global Ag Corp. is a TSX-listed company
focused on two primary businesses: a Grain Storage, Handling and
Merchandising unit, anchored by its 100% ownership of Riverland Ag
Corp., and a Commodity Logistics unit, containing its 25% interest
in Stewart Southern Railway Inc. and its development of the
Northgate, SK Commodity Logistics Centre. Riverland Ag Corp. is a
collection of nine (9) grain storage and handling assets in
Minnesota, New York, and Ontario having aggregate storage capacity of
approximately 47 million bushels. Riverland Ag also manages two (2)
facilities in Wyoming on behalf of
its customer-owner. Stewart Southern Railway Inc. is a short-line
railway with a range of 130 kilometres that operates in
Southeastern Saskatchewan. The
Northgate Commodities Logistics Centre is a state-of-the-art grain,
oil and oilfield supplies transloading site being developed in
conjunction with Riverland Ag and several potential energy company
partners, connected to BNSF Railway.
About Koch Fertilizer
Koch Fertilizer, LLC and its affiliates own or have interests in
nitrogen fertilizer plants in the United
States, Canada, and
Trinidad and Tobago. The companies
cover global demand through state-of-the-art terminals in the U.S.,
Canada, Mexico, Brazil, Australia, France and the United Kingdom. Koch Fertilizer, LLC and its
affiliates have the capability to market and distribute more than
13 million tons of fertilizer products annually. Koch Fertilizer,
LLC is a subsidiary of Koch Ag & Energy Solutions, LLC. Learn
more about Koch Fertilizer, LLC at www.kochfertilizer.com.
Cautionary Notice: This news release contains
"forward-looking information" within the meaning of applicable
Canadian securities legislation and United States securities laws. Forward-looking
information may include, but is not limited to, statements
regarding future operations and results, anticipated business
prospects and financial performance of Ceres and its subsidiaries,
including the plans, costs, timing and capital for the development
of the Northgate Commodities Logistics Centre, expectations or
projections about the future, strategies and goals for growth,
expected and future cash flows, costs, planned capital
expenditures, regulatory change, general economic political and
market conditions anticipated capital projects, construction and
completion dates, operating and financial results, critical
accounting estimates, the expected financial and operational
consequences of future commitments. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate",
"believes", "may have implications" or variations of such words and
phrases or statements that certain actions, events or results
"may", "could", "would", "might", or "will be taken", "occur", or
"be achieved". Forward-looking information is based on the opinions
and estimates of management at the date the information is made,
and is based on a number of assumptions and subject to a variety of
risks and uncertainties and other factors that could cause actual
events or results to differ materially from those projected in the
forward-looking information. Key assumptions upon which such
forward-looking information is based are listed in the
"Forward-Looking Information" section of the interim MD&A for
the quarter ended December 31, 2014.
Many such assumptions are based on factors and events that are not
within the control of Ceres and there is no assurance they will
prove to be correct. Factors that could cause actual results to
vary materially from results anticipated by such forward-looking
information include, among others, risks related to weather,
politics and governments, changes in environmental and other laws
and regulations, competitive factors in agricultural, food
processing and feed sectors, construction and completion of capital
projects, labour, equipment and material costs, access to capital
markets, interest and currency exchange rates, technological
developments, global and local economic conditions, the ability of
Ceres to successfully implement strategic initiatives and whether
such strategic initiatives will yield the expected benefits, the
ability of Ceres to successfully defend the claim by The Scoular
Company, the operating performance of the Corporation's assets, the
availability and price of commodities and regulatory environment,
processes and decisions. Although Ceres has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking information, there may be other factors that cause
actions, events or results that are not anticipated, estimated or
intended. There can be no assurance that forward-looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Ceres undertakes no obligation to update
forward-looking information if circumstances or management's
estimates or opinions should change, except as required by
applicable securities laws. The reader is cautioned not to place
undue reliance on forward-looking information.
SOURCE Ceres Global Ag Corp.