Ceres Global Ag Corp. Announces Pending Departure of Chief Financial Officer and Appointment of Interim Chief Financial Officer

MINNEAPOLIS, MN, Jan. 13, 2020 /CNW/ - Ceres Global Ag Corp. (TSX: CRP) ("Ceres" or the "Company") announced today that its Chief Financial Officer, Kyle Egbert, will leave Ceres in February, 2020 to pursue a new opportunity. Mr. Egbert's leadership has played a key role in the Company's growth over the past several years.

The Company also announced that John Haug will join Ceres on January 13, 2020 and will replace Mr. Egbert as the Company's Chief Financial Officer, on an interim basis, effective February 1, 2020.  Mr. Egbert will remain with the Company through mid-February, 2020 to ensure a smooth and effective transition. Mr. Haug has over 30 years of financial and operational experience in the commodity sector. Most recently, Mr. Haug led the finance and accounting function for Cargill, Incorporated's energy, transportation, metals and financial services businesses, where he successfully integrated three large international groups across North America, Europe and Asia to streamline and improve efficiency and control. The Company will begin its search for a permanent Chief Financial Officer in the near future.

"Through his strategic leadership of the finance department and enhancement of our back office capabilities over the past two and a half years, Kyle has made a significant contribution to the growth and evolution of our business. We wish him all the best in his new role," said Robert Day, President and Chief Executive Officer at Ceres. "On behalf of Ceres and its Board, I am pleased to welcome John Haug to Ceres. John's deep knowledge of the commodities sector and his broad experience as a leader of finance and accounting job families across many geographies worldwide will help facilitate Ceres' continued growth and positive momentum while we conduct our upcoming search for Kyle's permanent replacement."

About Ceres Global Ag Corp. (ceresglobalagcorp.com)

Through its network of commodity logistics centers and team of industry experts, Ceres merchandizes high-quality North American agricultural commodities and value-added products and provides reliable supply chain logistics services to agricultural, energy and industrial customers worldwide. 

Ceres is headquartered in Minneapolis, Minnesota, and together with its affiliated companies, operates 13 locations across Saskatchewan, Manitoba, Ontario, and Minnesota. These facilities have an aggregate grain and oilseed storage capacity of approximately 30.8 million bushels. 

Ceres has a 50% interest in Savage Riverport, LLC, a joint venture with Consolidated Grain and Barge Co., a 50% in Gateway Energy Terminal, a joint venture with Steel Reef Infrastructure Corp., a 25% interest in Stewart Southern Railway Inc., a short-line railway located in southeast Saskatchewan with a range of 130 kilometers, and a 17% interest in Canterra Seed Holdings Ltd, a Canada-based seed development company.

For more information about Ceres, please visit www.ceresglobalagcorp.com  

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 may include but is not limited to, statements regarding the timing and completion of the Private Placement and the proposed use of proceeds. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects," "intends," "anticipates," "believes" or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would" or "might," "be taken," "occur" or "be achieved." Forward-looking information is based on the opinions and estimates of management at the date the information is made and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Ceres undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

SOURCE Ceres Global Ag Corp.

Katelynn Thissen, NATIONAL Capital Markets, 416-848-1427, [email protected]