MINNEAPOLIS, May 25, 2020 /CNW/ - Ceres Global Ag Corp. (TSX:
CRP) ("Ceres" or the "Corporation") today announced that its
wholly-owned subsidiary, Delmar Commodities Ltd. ("Delmar"), has
entered into agreements to partner with two highly
specialized seed companies, Sevita International Corporation
("Sevita") and Horizon Seeds Canada Inc. ("Horizon") to distribute
corn and soybean seed products in Western
Canada. In combination with these new relationships,
Delmar will be rebranding its Legend Seeds Canada trade name to
"Ceres Global Seeds" and will no longer be distributing Legend
Seeds Inc.'s corn or soybean products.
"By acquiring Delmar less than one year ago, and through the
inclusion of its seed and processing division, we made significant
progress on our goal to diversify into agriculture-related
businesses in regions we know and understand well," said
Robert Day, President and Chief
Executive Officer of Ceres. "To enhance that diversification, we
conducted a rigorous review to identify the best possible seed
companies that will allow us to continue delivering superior value
to our dealer network and their growers. Our team identified
Sevita and Horizon as partners with high-quality products and a
strong commitment to service, which is consistent with our
corporate vision to be the most trusted and valued partner to
quality-conscious customers."
About Sevita International Corporation
Sevita is a Canadian-owned soybean company with a mission to
collaborate with farmers to grow the finest varieties while
advancing soybean genetics and driving local partnerships
throughout Canada. It has a
reputation for excellence in terms of genetics, quality and
reliability, and its independent research company, Sevita Genetics,
is one of the leading developers of soybean varieties in
Canada. Sevita commercializes
high-performing genetics across all major trait platforms available
in soybeans today including but not limited to Roundup Ready 2
Xtend, Enlist E3 and, Non-GMO Food Grade. Sevita also represents
Canadian soybeans in high-value markets around the world with
proprietary food grade varieties. Sevita works closely with food
manufacturers to better understand their unique needs and deliver
value to their business.
About Horizon Seeds Canada Inc.
Horizon Seeds is a Canadian owned and operated family seed corn
business located in Courtland, ON
that focuses on the commercialization of corn hybrids across
Canada. With a focus on product
performance and customer support, Horizon Seeds has continued to
grow and remain a trusted supplier of the Canadian farmer.
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.