Minneapolis, MN (October 5, 2020) – Ceres Global Ag Corp. (TSX: CRP)
(“Ceres” or the “Corporation”) today announced that it has agreed with VN Capital Management, LLC and VN Capital Fund C, L.P. (collectively “VN Capital”) to terminate certain restrictions on VN Capital’s and its affiliates’ ability to engage in the trading of the Corporation’s common shares and to engage in certain other related activities (“Trading Restrictions”). Specifically, the Trading Restrictions prohibited VN Capital, through March 30, 2021, without the consent of the Corporation’s board of directors, from purchasing the Corporation’s shares except from private parties in blocks of 250,000 or more shares, and from engaging in certain other related activities. The agreement to terminate the Trading Restrictions early enables VN Capital and its affiliates to acquire additional shares or otherwise trade common shares of the Corporation, subject only to any applicable regulatory restrictions.
Ceres and VN Capital originally agreed to the Trading Restrictions in connection with a non-brokered private placement event in September 2019, under which VN Capital Fund C, L.P. subscribed for 2,757,487 Shares. VN Capital, which holds 49.8% of the Corporation’s common shares, is currently the Corporation’s largest shareholder.