Front Street Capital

Front Street Capital

December 08, 2010 19:09 ET

Front Street Capital Insiders Announce Increase in Holdings in Ceres Global Ag Corp.

TORONTO, ONTARIO--(Marketwire - Dec. 8, 2010) - Gary Selke, Frank Mersch, Norm Lamarche, David Conway, Linda Hryma, Tracey Patel, Prakash Hariharan, Jason Gould, Tom Muir and Michael Detlefsen (the "Front Street Insiders") have collectively acquired control and direction over 1,362,333 common shares (the "Shares") in the capital of Ceres Global Ag Corp. ("Ceres") for $6.91 per Share, representing 8.9% of all outstanding common shares of Ceres (the "Acquisition"). The Shares were acquired pursuant to the "private agreement" exemption in Section 100.1 of the Securities Act (Ontario).

Prior to the Acquisition, the Front Street Insiders owned 1,730,758 common shares of Ceres. As a result of the Acquisition, the Front Street Insiders own 3,093,091 common shares of Ceres and 1,626,750 warrants of Ceres representing 27.8% of the total outstanding common shares of Ceres assuming conversion of the outstanding warrants held by the Front Street Insiders.

The Shares were acquired by the Front Street Insiders for long-term investment purposes. The Front Street Insiders may from time to time, depending on market and other conditions, increase or decrease such holdings of Shares or other securities of Ceres.

Contact Information

  • For further information, or to obtain a copy
    of the joint early warning report, please contact:
    Front Street Capital
    Jason Gould
    416 -915-2426
    Front Street Capital
    33 Yonge Street
    Toronto, Ontario
    M5E 1G4