Brief: Ceres Global AG Corp. Suspends Crush Project Terminates Equipment Contract

Ceres Global Ag

24/06/2022 16:33

Ceres Global Ag Corp  CRP.TO :
    * CERES GLOBAL AG CORP. SUSPENDS CRUSH PROJECT; TERMINATES
EQUIPMENT CONTRACT
    * CERES GLOBAL AG CORP. SUSPENDS CRUSH PROJECT; TERMINATES
EQUIPMENT CONTRACT
    * CERES GLOBAL AG CORP- CURRENTLY ESTIMATES THAT IMPAIRMENT
WILL
BE IN RANGE OF $25 MILLION TO $30 MILLION
    * CERES GLOBAL AG CORP - TERMINATION OF CONTRACT AND
SUSPENSION OF
PROJECT WILL RESULT IN A Q4 IMPAIRMENT CHARGE
    * CERES GLOBAL AG CORP- INTENDS TO CONTINUE TO EXPLORE
AVENUES TO
PURSUE A CANOLA CRUSH PROJECT OF SOME FORM IN FUTURE
    * CERES GLOBAL AG - DECISION TO PAUSE PROJECT INCLUDE
INFLATIONARY
PRESSURES RESULTING IN HIGHER COSTS THAN PROJECTED, SHIFTING
MACROECONOMIC CONDITIONS

Source text for Eikon:  ID:nCNWvzHT2a 
Further company coverage:  CRP.TO