MINNEAPOLIS, MN, Jan. 13, 2020 /CNW/ - Ceres Global Ag Corp. (TSX:
CRP) ("Ceres" or the "Company") announced today that its Chief
Financial Officer, Kyle Egbert, will
leave Ceres in February, 2020 to pursue a new opportunity. Mr.
Egbert's leadership has played a key role in the Company's growth
over the past several years.
The Company also announced that John
Haug will join Ceres on January 13,
2020 and will replace Mr. Egbert as the Company's Chief
Financial Officer, on an interim basis, effective February 1, 2020. Mr. Egbert will remain
with the Company through mid-February, 2020 to ensure a smooth and
effective transition. Mr. Haug has over 30 years of financial and
operational experience in the commodity sector. Most recently, Mr.
Haug led the finance and accounting function for Cargill, Incorporated's energy,
transportation, metals and financial services businesses, where he
successfully integrated three large international groups across
North America, Europe and Asia to streamline and improve efficiency and
control. The Company will begin its search for a permanent Chief
Financial Officer in the near future.
"Through his strategic leadership of the finance department and
enhancement of our back office capabilities over the past two and a
half years, Kyle has made a significant contribution to the growth
and evolution of our business. We wish him all the best in his new
role," said Robert Day, President
and Chief Executive Officer at Ceres. "On behalf of Ceres and its
Board, I am pleased to welcome John
Haug to Ceres. John's deep knowledge of the commodities
sector and his broad experience as a leader of finance and
accounting job families across many geographies worldwide will help
facilitate Ceres' continued growth and positive momentum while we
conduct our upcoming search for Kyle's permanent replacement."
About Ceres Global Ag Corp. (ceresglobalagcorp.com)
Through its network of commodity logistics centers and team of
industry experts, Ceres merchandizes high-quality North
American agricultural commodities and value-added products and
provides reliable supply chain logistics services to agricultural,
energy and industrial customers worldwide.
Ceres is headquartered in Minneapolis,
Minnesota, and together with its affiliated companies,
operates 13 locations across Saskatchewan, Manitoba, Ontario, and Minnesota. These facilities have an aggregate
grain and oilseed storage capacity of approximately 30.8 million
bushels.
Ceres has a 50% interest in Savage Riverport, LLC, a joint
venture with Consolidated Grain and Barge Co., a 50% in Gateway
Energy Terminal, a joint venture with Steel Reef Infrastructure
Corp., a 25% interest in Stewart Southern Railway Inc., a
short-line railway located in southeast Saskatchewan with a range of 130 kilometers,
and a 17% interest in Canterra Seed Holdings Ltd, a Canada-based seed development company.
For more information about Ceres, please visit
www.ceresglobalagcorp.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
the timing and completion of the Private Placement and the proposed
use of proceeds. Generally, forward-looking information can be
identified by the use of forward-looking terminology such as
"expects," "intends," "anticipates," "believes" or variations of
such words and phrases or statements that certain actions, events
or results "may," "could," "would" or "might," "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. 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.