Canadian Warrants

Designated market-maker: Independent Trading Group
Transfer agent and registrar: CIBC Mellon Trust Co. at its principal offices in Toronto
Unitholders need not take any action with respect to receiving the common shares and warrants upon separation of the units. Registration of interests in and transfers of the common shares and warrants shall be made through the book-based system operated by CDS Clearing and Depository Services Inc. Transfers of ownership of common shares or warrants will be effected through records maintained by CDS participants. Certificates evidencing common shares or warrants will be issued on request for transfer of ownership. Additional information on the units, common shares and warrants may be found in the final prospectus dated Dec. 13, 2007, which is available at www.sedar.com. Capitalized terms not otherwise defined are as defined in the prospectus.
 
Warrants: Each warrant entitles the holder thereof to acquire, subject to adjustment in certain circumstances, one common share at a price of $13.50 at any time on or prior to the close on Dec. 21, 2010, after which time the warrants will become null and void. The warrants are governed by the terms of the warrant indenture dated as of Dec. 21, 2007, between the company and CIBC Mellon Trust Co. as warrant agent. The warrant indenture provides for appropriate adjustments to the rights of holders of warrants in the event of stock dividends, subdivisions, consolidations or other forms of capital reorganization.
 
Dividends: The company has not paid any dividends on its outstanding common shares. The board of directors, in consultation with the manager and/or the investment adviser, may from time to time, and on the basis of any earnings, the company's financial requirements and any other relevant factor, consider paying dividends in the future if operational circumstances of the company permit, including earnings, cash flow, financial, and legal requirements and business considerations.
 
Ceres Global gets $4.72-million from overallotment
 
2008-01-14 10:49 MT - News Release
Ceres Global Ag Corp. has issued an additional 393,480 units at a price of $12 per unit, for gross proceeds of $4,721,760, pursuant to the exercise by the agents of a portion of their overallotment option. Each unit consists of one common share in the capital of the corporation and one common share purchase warrant.
The units will separate into common shares and warrants on March 1, 2008. Each warrant entitles the holder to acquire, subject to adjustment in certain circumstances, one common share of the corporation, at a price of $13.50 on or before Dec. 21, 2010, as described in the final prospectus of the corporation dated Dec. 13, 2007. Including the overallotment option, total gross proceeds raised under the corporation's initial public offering were $154,721,760. The units, common shares and warrants are listed on the Toronto Stock Exchange under the symbols CRP.UN, CRP and CRP.WT, respectively.
The syndicate of agents was co-led by BMO Nesbitt Burns Inc., Credit Suisse Securities (Canada) Inc. and Wellington West Capital Markets Inc., and included CIBC World Markets Inc., RBC Dominion Securities Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corp., Richardson Partners Financial Ltd., and Tuscarora Capital Inc.
The corporation and Front Street Capital 2004 (the manager) have entered into a management agreement, pursuant to which the manager has agreed to manage and administer the day-to-day business and affairs of the corporation. The manager has retained Front Street Investment Management Inc. to provide investment advisory services to the corporation. The investment adviser's lead investment manager, responsible for managing the corporation's agricultural assets, will be Frank L. Mersch, who has over 29 years of experience in the investment industry. In addition, Muir Detlefsen & Associates Ltd. has been retained by the manager, on behalf of the corporation, to provide strategic, management and transactional services to the corporation. The investment adviser and the partner will work closely together in the identification of non-public and less-liquid public investments, with the ability to potentially acquire a controlling interest, that present significant value appreciation opportunities.
 
Ceres Global closes $150-million IPO
 
2007-12-21 10:25 MT - News Release
Ceres Global Ag Corp. has completed its initial public offering. At today's closing, the corporation issued 12.5 million units at $12 per unit, for gross proceeds of $150-million. Each unit consists of one common share in the capital of the corporation and one common share purchase warrant. The corporation has granted the agents an overallotment option to acquire up to 1,875,000 additional units, which is exercisable at any time during the next 30 days.
The units will separate into common shares and warrants on March 1, 2008. Each warrant entitles the holder to acquire, subject to adjustment in certain circumstances, one common share of the corporation at a price of $13.50 until Dec. 21, 2010. The units, common shares and warrants are listed on the Toronto Stock Exchange under the symbols CRP.UN, CRP and CRP.WT, respectively.
The syndicate of agents was co-led by BMO Nesbitt Burns Inc., Credit Suisse Securities (Canada) Inc. and Wellington West Capital Markets Inc., and included CIBC World Markets Inc., RBC Dominion Securities Inc., National Bank Financial Inc., TD Securities Inc., Canaccord Capital Corp., Richardson Partners Financial Ltd. and Tuscarora Capital Inc.
The corporation and Front Street Capital 2004 (the manager) have entered into a management agreement pursuant to which the manager has agreed to manage and administer the day-to-day business and affairs of the corporation. The manager has retained Front Street Investment Management Inc. (the investment adviser) to provide investment advisory services to the corporation. The investment adviser's lead investment manager responsible for managing the corporation's agricultural assets will be Frank L. Mersch, who has over 29 years of experience in the investment industry. In addition, Muir Detlefsen & Associates Ltd. (the partner) has been retained by the manager, on behalf of the corporation, to provide strategic, management and transactional services to the corporation. The investment adviser and the partner will work closely together in the identification of non-public and less-liquid public investments, with the ability to potentially acquire a controlling interest, that present significant value-appreciation opportunities.