Winnipeg, Manitoba, Canada
September 29, 2015
CANTERRA SEEDS and France-based LIMAGRAIN, through its listed company Vilmorin et Cie S.A., are pleased to confirm that all conditions necessary for the formation of the new cereal breeding and development partnership, Limagrain Cereals Research Canada, contemplated by the press release dated July 2, 2015, have been met and they are pleased to announce that the partnership has been established.
LIMAGRAIN has also completed its acquisition of a minority stake in CANTERRA SEEDS for approximately C$7 million and Cecile Cuzenic, Patrick Spadin and Thomas Jolliffe have all been appointed, as representatives of LIMAGRAIN, on the CANTERRA SEEDS board of directors.
CANTERRA SEEDS also announces that Mr. Chad Wonderling, representative of Ceres Global Ag Corp., has resigned from the board of CANTERRA SEEDS to make way for these new appointees. CANTERRA SEEDS would like to thank Mr. Wonderling for his contribution to CANTERRA SEEDS during his time on the board.
Additional details regarding these transactions are set out in the press release dated July 2, 2015 and the agreements signed on July 2, 2015, copies of which have been filed on www.sedar.com.
CANTERRA SEEDS
Owned by western Canadian seed growers and agricultural retailers, LIMAGRAIN, Ceres Global Ag and private investors, CANTERRA SEEDS is committed to sourcing genetically superior seed products that deliver agronomic and economic benefits for producers, while also meeting end-user needs. With a versatile portfolio of cereals, pulses and canola, CANTERRA SEEDS seeks opportunities that allow for mutual success in the agriculture industry.
LIMAGRAIN
LIMAGRAIN, an international cooperative group created and directed by French farmers, moves agriculture forward to meet food challenges. As a creator and producer of plant and cereal varieties, the Group markets seeds and cereal products intended for farmers, growers, home gardeners and for agri-food industrialists and consumers.
LIMAGRAIN is the fourth largest seed company in the world (field seeds and vegetable seeds), the European leader for functional flours, and the No. 1 French industrial baker, all with strong brands in their markets.
LIMAGRAIN makes sales of almost 2 billion Euros and has nearly 9,000 employees spread over 42 countries, including more than 1,800 working in research. The Limagrain Cooperative has almost 2,000 farmer members.
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