Minneapolis, MN (February 11, 2020) – 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.”