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Ceres to Acquire Stake in Berthold Farmers Elevator

Berthold is a grain originator and merchandiser with locations in North Dakota

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Ceres Global Ag Corp. announces its wholly owned subsidiary, Riverland Ag Corp., has entered into a letter of intent to acquire Columbia Grain International’s 50% membership interest in Berthold Farmers Elevator, LLC, a grain originator and merchandiser with locations in Berthold, ND, and Carpio, ND.

Riverland will pay cash for the investment, coming from working capital and available debt capacity. The other 50% membership interest in BFE is owned by Berthold Farmers Elevator Co., a farmer cooperative also based in Berthold, ND.

The letter of intent contains a binding purchase option exercisable by Riverland through April, 29, 2022, by which date the transaction is expected to close.

“Becoming a joint venture owner with Berthold Farmers Elevator Co. advances our strategy to partner with growers and increase origination of our core products,” says Robert Day, president and CEO at Ceres.

“We look forward to connecting the hundreds of growers who make up the co-op in Berthold with Ceres and Riverland’s customers and collaborating with all parties to bring solutions, starting from the farmgate and ending with consumers in the U.S. and internationally.”

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