Genesis Grain and Fertilizer Limited Partnership has released a new offering memorandum in an effort to raise capital from farmers for its fertilizer distribution business.
Genesis is a farmer-owned grain handling and fertilizer distribution business led by Farmers of North America (FNA) and AgraCity Crop and Nutrition.
A goal of the group is to build a nitrogen fertilizer manufacturing plant, known as Project-N, in Belle Plaine, Saskatchewan.
"This announcement is very important to us and for our members," explains spokesperson Bob Friesen. "We announced the creation of Genesis on October 16, 2014 and were working very quickly to raise the necessary funds from farmers through an OM which at that time included an opportunity for farmers to acquire a majority partnership share of the CWB, but the results of that opportunity have been widely reported. FNA and AgraCity will continue to determine if there are ways to work with the CWB to ensure maximum efficiency of the use of farm capital. We will also be working to identify any other opportunities to capitalize on grain handling opportunities."
Details of the offering memorandum will be released to accredited investors only.