MINNEAPOLIS, MN, Sept. 2, 2020 /CNW/ - Ceres Global Ag Corp.
(TSX: CRP) ("Ceres Global" or the "Company"), a global
agricultural, energy and industrial products merchandizing and
supply chain company, announced today that it has completed its
previously announced acquisition of Cargill Limited's grain
elevator and associated assets referred to as "Nicklen Siding",
located in Ridgedale,
Saskatchewan. The acquisition was funded with existing
working capital. As part of the transaction, Ceres Global assumed
Cargill's open grain purchase
contracts and has retained all Cargill personnel who were employed at the
Nicklen Siding facility.
"The completion of the Nicklen Siding acquisition continues the
meaningful progress we have made on our goal to add strategic
origination capabilities for our core products while also further
expanding our geographic footprint in Canada," said Mr. Robert Day, President and Chief Executive
Officer at Ceres. "We welcome the talented team from the Nicklen
Siding location and sincerely look forward to working together to
connect growers in Saskatchewan
with Ceres' valued end-use customers."
About Ceres Global Ag Corp. (ceresglobalagcorp.com)
Through its network of commodity logistics centers and team of
industry experts, Ceres Global 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 Global 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 Global 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 Global, 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.