MINNEAPOLIS, April 7, 2020 /CNW/ - Ceres Global Ag Corp. (TSX:
CRP) ("Ceres" or the "Company") today released a letter from its
Chief Executive Officer, Robert Day,
providing an update on measures the Company and its affiliates
(collectively "Ceres Global") have taken to ensure business
continuity during the COVID-19 pandemic.
Mr. Day's letter reads as follows:
"Dear Ceres Global stakeholders,
The purpose of this letter is to provide you an update on the
status and activities that Ceres Global, along with rest of the
world, continues to confront related to the challenges of COVID-19.
We hope that this information will provide our stakeholders -
employees, shareholders, suppliers, customers, and others – with
confidence that Ceres Global is taking the steps necessary to
effectively operate our businesses and deliver on our commitments
during this unprecedented time. The safety and health of our
employees, those with whom we do business, and the communities in
which we operate are our highest priority, and Ceres Global will
continue to take proactive measures to promote safety and health
while minimizing disruptions to our business.
Let me begin by sharing that Ceres Global remains confident in
its business outlook and expects to continue to serve its
customers' needs even in this uncertain environment. We are working
diligently to ensure that all our business operations continue; at
this time no significant interruptions to operations have occurred
and we have taken steps to minimize that possibility. While the
U.S. and Canadian border has closed to non-essential travel,
essential trade between the two countries continues. Both
Canada and the Unites States have
recognized that food, energy and industrial supply chain businesses
such as those operated by Ceres Global are essential businesses
that need to continue to operate during this pandemic.
Let me now turn to specifics. Ceres Global formed a "Pandemic
Response Team" in early February, 2020 comprised of senior managers
responsible for the areas of safety, commercial operations, and
human resources. The team has met daily to identify and address
COVID-19-related issues. Some of the key steps that Ceres Global
has undertaken include the following:
- Proactive development and communication of a flexible
multi-phase response plan to be implemented in location-specific
phases as may be necessitated by the spread of the virus.
- Early implementation of key elements of the response plan such
as enhanced sanitation and personal protective equipment and
procedures, physical distancing requirements, limitations on
business travel, and preparation for the possibility of remote work
arrangements.
- In mid-March, Ceres Global implemented remote work arrangements
for all personnel whose job functions could be performed remotely,
including all personnel at its Minneapolis-based corporate offices.
- All locations have been operating under strict procedures
intended to minimize contact between individuals. As one example,
the Northgate, Sakatchewan facility has changed its grain receiving
process to involve zero contact between Ceres Global personnel and
third-party personnel delivering grain.
- To ensure continuity of operations, each location has developed
a backup plan to be implemented in the event that one or more
employees contract the virus.
- Workflow changes and/or backup have been developed for
implementation in the event that any member of the Ceres Global
executive team contract the virus; and,
- Paid leave policies have been amended for use on a case-by-case
basis to ensure no employee feels obligated to come to work while
ill or potentially ill.
I'd like to close by thanking all of our employees and team
members at Ceres Global. They have been working tirelessly to keep
our businesses running smoothly and efficiently. We will continue
to work together to do our part to perform the critical role in the
supply chain we play while we do all we can to help slow COVID-19's
spread.
Stay safe and healthy, everyone.
Sincerely,
Robert Day"
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,
MN and together with its wholly-owned affiliates, operates
12 locations across Saskatchewan,
Manitoba, Ontario, and Minnesota. These facilities have an aggregate
grain and oilseed storage capacity of approximately 30.8 million
bushels.
Ceres also has a 50% interest in Savage Riverport, LLC, a joint
venture with Consolidated Grain and Barge Co., a 50% interest in
Gateway Energy Terminal, an unincorporated 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.
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.