Minneapolis, MN, (August 16, 2019) – Ceres Global Ag Corp. (TSX: CRP) (“Ceres” or the “Company”), a global agricultural, energy and industrial products merchandizing and supply chain company, has announced today that it has completed its acquisition of Delmar Commodities, Ltd. (“Delmar”) based in Winkler, Manitoba. Ceres has acquired 100% of Delmar’s issued and outstanding shares for approximately CAD $15.25 million in cash paid to Delmar’s shareholders, and the assumption of approximately $7.6 million in existing term debt. The acquisition was funded with a combination of debt and existing working capital.
“With the completion of this acquisition we have made meaningful progress on our goal to diversify our product lines, add strategic origination capabilities for our core products, and expand our geographic footprint in Canada,” said Mr. Robert Day, President and Chief Executive Officer at Ceres. “We welcome the talented team at Delmar to Ceres and look forward to working together as we continue to execute on our growth strategy.”
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