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

Ceres Global Ag Corp.

February 08, 2010 17:20 ET

Ceres Global Ag Corp. Announces the Appointment of Brian Little as Director

TORONTO, ONTARIO--(Marketwire - Feb. 8, 2010) -

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Ceres Global Ag Corp. ("Ceres" or the "Corporation") (TSX:CRP)(TSX:CRP.WT) is pleased to announce that the Board of Directors has appointed Brian Little as a director and as a member of the Audit Committee and the Corporate Governance and Nominating Committee.

Mr. Little has over thirty-three years experience in agriculture banking and finance at RBC Royal Bank ("RBC"). Brian recently retired as National Manager of the agriculture and agribusiness at RBC, during which time he was responsible for business development and strategy. In addition, he was responsible for the overall growth and profitability and quality of the portfolio and worked closely with industry, government and academic personnel in Canada. Other responsibilities included new lending, investment and deposit products, and the delivery of these products to the RBC client base. In addition to his agriculture and agribusiness role, Brian was responsible for the strategic direction of the Public Sector and Knowledge Based Industries for RBC for the past three years.

"We are pleased that Brian has agreed to join our Board. Brian is a well respected participant in Agribusiness in North America with a wealth of experience that will be beneficial to Ceres moving forward," said Gary Selke, Chairman and CEO of the Corporation.

The Corporation also announces that Gary Mize has tendered his resignation as a director and as Chairman of the Corporation due to the need for the Corporation to have at least 3 independent directors. Mr. Mize in conjunction with his consulting firm has been engaged by the Corporation to conduct industry research for the Corporation and, as such, can no longer be considered to be "independent". It is the intention of the Corporation to increase the number of directors on the Board of the Corporation at the next shareholders' meeting, at which time Mr. Mize will be re-nominated. Concurrent with this resignation, the Board appointed Mr. Gary Selke as Chairman in addition to his current CEO role with the intention that this role will be split at the next shareholders' meeting.

About Ceres

The Corporation is an actively managed investment company. The investment objective 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 may invest in non-public and public issuers and assets.

This news release contains forward-looking statements concerning the Corporation's business and operations. The Corporation cautions that, by their nature, forward-looking statements involve risks and uncertainty and the Corporation's future actual results could vary materially from those expressed or implied in such statements. Reference should be made to the Corporation's annual audited financial statements, its management discussion and analysis, or the initial public offering prospectus dated December 13, 2007 for a description of the major risk factors.

Contact Information

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