Alliance Buys Finora Canada

TORONTO - Dec 18/09 - SNS -- Alliance Grain Traders paid U.S.$8.9 million to buy the assets of Finora Inc.

The assets to be acquired include four processing plants in three locations - two plants at Wilkie, Saskatchewan (approximately 175 km northwest of Saskatoon, Saskatchewan), a plant at Assiniboia, Saskatchewan (approximately 100 km southwest of Moose Jaw, Saskatchewan) and a plant at Gibbons, Alberta (approximately 40 km north of Edmonton, Alberta).

AGTI will acquire the plants, approximately 20,000 MT of bulk product storage and certain land and equipment.

Completion of the transaction is subject to a number of conditions, including certain due diligence and other customary closing conditions. The transaction is currently scheduled to close on or about December 31, 2009. All of the processing plant staff and plant management team will remain with AGTI after the acquisition.

"Finora has great assets that complement our current processing locations and drawing areas. It immediately provides advantages to our bulk shipping program through the ability to capitalize on excellent rail service with CP Rail at Wilkie and Assiniboia and CN Rail at Gibbons, Alberta.

"The ability to access container shipping from Edmonton adds another logistical advantage. The assets add capacity to react to the growing volumes of our core crops - lentils, peas, chickpeas and canary seeds, available to our Western Canadian business. This is another strategic "tuck-in" acquisition for us that immediately expands our operations and delivers value and growth opportunities for our shareholders, producers and customers," commented Murad Al-Katib, President and CEO of Alliance Grain Traders Inc.

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