Farmers Grain, LLC to enhance region's
grain handling capacity
MINNEAPOLIS, MN, Feb. 11, 2021 /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 its subsidiary, Riverland Ag Corp.
("Riverland") and Farmer's Cooperative Grain and Seed Association
("FCGS") have completed the formation and establishment of Farmers
Grain, LLC, which includes a grain merchandising facility based in
Thief River Falls, Minnesota (the
"Joint Venture"). The Joint Venture will commence an
expansion project in the spring of 2021 designed to enable loading
unit trains within 18 months. The facility will be serviced by
Canadian Pacific ("CP") and FCGS will continue to operate its
non-grain merchandising businesses independent of the operation of
the Joint Venture.
"Completion of the joint venture with FCGS in Thief River Falls continues the meaningful
progress we've made around our goal to add strategic origination of
our core products while also expanding our geographic footprint in
the upper Midwest region of the U.S.," said Mr. Robert Day, President and Chief Executive
Officer at Ceres. "We welcome the FCGS employees who will staff the
Joint Venture and sincerely look forward to working with the
hundreds of grower-members of FCGS and other growers in Northwest,
MN to connect with Ceres and Riverland's end–use customers."
About Ceres Global Ag Corp. (ceresglobalagcorp.com)
Through its network of commodity logistics centers and team of
industry experts, Ceres and its subsidiaries ("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 14 locations across Saskatchewan, Manitoba, Ontario, and Minnesota. These facilities have an aggregate
grain and oilseed storage capacity of over 32 million
bushels.
Ceres Global has a 50% interest in Savage Riverport, LLC, a
joint venture with Consolidated Grain and Barge Co., a 50% interest
in Farmers Grain, LLC, a joint venture with Farmer's Cooperative
Grain and Seed Association, 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
About Farmer's Cooperative Grain and Seed Association
(farmerscooptrf.com)
Established in 1940, FCGS provides a broad range of agricultural
products and services to producers, customers and patrons,
including grain merchandising and storage, agronomy services, seed
products and trucking services. FCGS' patron base consists of over
400 growers across a 3-county area.
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.