Ceres Global Ag Corp.
TSX : CRP
TSX : CRP.WT

Ceres Global Ag Corp.

June 16, 2009 14:29 ET

Ceres Global Ag Corp. Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - June 16, 2009) -

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

Ceres Global Ag Corp. (the "Corporation") (TSX:CRP)(TSX:CRP.WT) announces a normal course issuer bid. The Corporation intends to purchase, through the facilities of the Toronto Stock Exchange ("TSX"), up to 1,122,058 common shares of the Corporation ("Shares") representing approximately 10% of its unrestricted public float. The unrestricted public float of the Corporation as of June 5, 2009 was 11,220,579 Shares. The Corporation may purchase up to a daily maximum of 6,115 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 commencing on June 18, 2009 through to June 17, 2010 through the facilities of the TSX and may be purchased when the net asset value per Share exceeds its trading price. A Notice of Intention to Make a Normal Course Issuer Bid has been accepted by the TSX effective as of June 16, 2009.

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.

About Ceres Global Ag Corp.

The Corporation is an actively managed investment company established to provide investors with an opportunity to gain direct and indirect exposure to global agricultural assets. The investment objective of the Corporation is to achieve long-term capital appreciation, while reducing risk and preserving capital, through global exposure to agricultural assets involved in the supply and demand chains of the agricultural sector and sector influenced industries, including crop and animal production, agrichemicals and fertilizers, farm machinery, equipment, transportation and storage, food processing, distribution and retailing, biofuels and other agribusinesses; and agricultural commodities. The Corporation will invest in non-public and public issuers or assets.

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 more information, please contact Investor Services at 1-800-513-2832.

Contact Information

  • Ceres Global Ag Corp.
    Jason Gould
    Chief Financial Officer
    (416) 915-2426