TORONTO, June 16, 2014 /CNW/ - Ceres Global Ag Corp. ("Ceres" or the
"Corporation") (TSX: CRP) announces that it has received a complaint
initiated by The Scoular Company ("Scoular") in the United States
District Court of the District of Minnesota. Scoular is seeking
injunctive relief and unspecified damages relating to the development
and construction of a grain facility at the Corporation's Northgate
Commodity Logistics Centre.
The Corporation is currently reviewing the complaint and intends to
vigorously defend against this action.
About Ceres Global Ag Corp. (ceresglobalagcorp.com)
Ceres Global Ag Corp. is a Toronto‐based company focused on two primary
businesses: a Grain Storage, Handling and Merchandising unit, anchored
by its 100% ownership of Riverland Ag Corp., and a Commodity Logistics
unit, containing its 25% interest in Stewart Southern Railway Inc. and
its development of the Northgate, SK Commodity Logistics Centre.
Riverland Ag Corp. is a collection of nine (9) grain storage and
handling assets in Minnesota, New York, and Ontario having aggregate
storage capacity of approximately 48 million bushels. Riverland Ag also
manages two (2) facilities in Wyoming on behalf of its customer‐owner.
Stewart Southern Railway Inc. is a short-line railway with a range of
130 kilometres that operates in South‐eastern Saskatchewan. The
Northgate Commodity Logistics Centre is a proposed $90 million grain,
oil and oilfield supplies transloading site being developed in
conjunction with Riverland Ag and several potential energy company
partners, connected to BNSF Railway.
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 in this news release are subject to a number of risks and
uncertainties that could cause actual events or results to differ
materially from current expectations. Ceres undertakes no obligation
to update forward-looking information if circumstances or management's
expectations should change, except as required by applicable securities
laws. The reader is cautioned not to place undue reliance on
SOURCE: Ceres Global Ag Corp.
For further information:
(416) 815-0700 ext. 238