CERES GLOBAL AG CORP. ANNOUNCES ACCEPTANCE BY TSX OF NORMAL COURSE ISSUER BID

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

TORONTO, Oct 7 /CNW/ - (TSX: CRP, CRP.WT) - Ceres Global Ag Corp. (the "Corporation") announced today acceptance by the Toronto Stock Exchange (the "TSX") of the Corporation's Notice of Intention to Make a Normal Course Issuer ("NCIB").  Pursuant to the NCIB, the Corporation proposes to purchase through the facilities of the TSX, from time to time over the next 12 months, if considered advisable, up to an aggregate of 1,016,638 common shares ("Shares") of the Corporation, being approximately 10% of its unrestricted public float, as of October 4, 2010.  Purchases may commence through the TSX on October 8 and will conclude on the earlier of the date on which purchases under the bid have been completed and October 7, 2011. The Corporation may purchase up to a daily maximum of 3,657 Shares, except where such purchases are made in accordance with the "block purchase" exception under applicable TSX rules and policies.

The Shares may be purchased for cancellation through the facilities of the TSX and may be purchased when the net asset value per Share exceeds its trading price. The purpose of the normal course issuer bid is to provide the Corporation with a mechanism to decrease the potential spread between the net asset value per Share and the market price of the Shares. 

On June 18, 2009, the Corporation commenced a normal course issuer bid to purchase up to 1,122,058 Shares through the facilities of the TSX.  Under that bid, which expired on June 17, 2010, the Corporation has purchased a total of 441,415 of its Shares at an average price of $6.15 per Share.  As of the date hereof, the Corporation has 15,357,054 issued and outstanding Shares. 

About Ceres Global Ag Corp.

Ceres is an investment company focused on the agriculture sector.  Its main investment is in Riverland Ag Corp., which is an agricultural grain supply chain ingredient business that owns and operates 12 grain storage and handling facilities in Minnesota, North Dakota, New York and Ontario, Canada with a total storage capacity of 44 million bushels.  Riverland Ag customers include leading food and beverage companies.  In addition, a significant number of its facilities act as delivery locations for certain futures contracts on the Minneapolis and Chicago exchanges.

No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being offered have not been and will not be offered or sold in the United States or to, or for the account or benefit of, a "U.S. person", as such term is defined in Regulation S under the United States Securities Act of 1933, as amended. This news release is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any of these securities in the United States.

For further information:

Jason Gould, Chief Financial Officer, at [phone]