TORONTO, June 9, 2014 /CNW/ - Ceres Global Ag Corp. ("Ceres" or the "Company") (TSX: CRP) today announced that directors Gary Selke, Chairman, and Tom Muir resigned their seats on the Board of Directors effective the close of business June 6, 2014. The Board has appointed Douglas Speers as Chairman.
Concurrent with their departure, VN Capital, an investment advisory entity controlled by Ceres board member James Vanasek, purchased all of the Ceres shares owned and/or controlled by Messrs. Selke, Muir and Detlefsen, being 1,054,162 common shares, at a price of $7.00 per share, increasing VN Capital's ownership of Ceres to 16.1%.
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.
SOURCE: Ceres Global Ag Corp.
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