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SCOULAR AFFIRMS ITS CANADIAN STRATEGY
Source: Scoular Company news release

The Scoular Company has learned that Ceres Global Ag Corp. intends to use its subsidiary, Riverland Ag, to design and develop a grain elevator at the logistics hub being developed by Ceres in Northgate, Saskatchewan.

The information was first communicated to Scoular at the end of January, and Scoular has vigorously objected to this unilateral action. Termination of Scoular's relationship to the Northgate project and with Ceres remains under discussion, the details of which are not being released.

"This decision is disappointing to Scoular and, more importantly, is a setback for customers at Northgate who will be deprived of access to our long-established international shipping networks serving end-use customers," said Bob Ludington, Chief Operating Officer of Scoular.

"However, Northgate was a prong in Scoular's much larger strategy to add value for producers and efficiency for end-users through an extensive transportation and logistics network supported by best-in-class grain merchants. Scoular will continue aggressively to pursue that strategy in Canada and elsewhere."


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