Ceres Global Ag Corp.

11:12 AM EST - Ceres Global Ag Corp. : Announced that its wholly owned subsidiary, Riverland Ag Corp. has entered into an agreement with Farmer's Co-op Grain and Seed Association, an agricultural cooperative based in Thief River Falls, Minnesota , to form a grain merchandising joint venture to be based in Thief River Falls. FCGS will contribute its existing grain elevator and related grain merchandising assets in Thief River Falls to the Joint Venture, with Riverland contributing cash. The transaction is expected to close in January 2021 . Following closing, the Joint Venture will undergo an expansion project designed to enable loading unit trains. The facility will be serviced by Canadian Pacific (CP) and FCGS will continue to operate its non-grain merchandising businesses independent of the operation of the Joint Venture. Ceres Global Ag Corp.
shares T.CRP are trading down $0.02 at $3.78.