Ceres Global Ag Corp. Completes Acquisition of Nicklen Siding, SK Elevator from Cargill Limited

MINNEAPOLIS, MN, Sept. 2, 2020 /CNW/ - 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 it has completed its previously announced acquisition of Cargill Limited's grain elevator and associated assets referred to as "Nicklen Siding", located in Ridgedale, Saskatchewan. The acquisition was funded with existing working capital. As part of the transaction, Ceres Global assumed Cargill's open grain purchase contracts and has retained all Cargill personnel who were employed at the Nicklen Siding facility.

"The completion of the Nicklen Siding acquisition continues the meaningful progress we have made on our goal to add strategic origination capabilities for our core products while also further expanding our geographic footprint in Canada," said Mr. Robert Day, President and Chief Executive Officer at Ceres. "We welcome the talented team from the Nicklen Siding location and sincerely look forward to working together to connect growers in Saskatchewan with Ceres' valued end-use customers."

About Ceres Global Ag Corp. (ceresglobalagcorp.com)

Through its network of commodity logistics centers and team of industry experts, Ceres Global 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 Global 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 Global 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 Global, 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]