Sept 20 (Reuters) - Ceres Global Ag Corp CRP.TO :
* CERES GLOBAL AG CORP. ANNOUNCES PROPOSED PRIVATE PLACEMENT
* CERES GLOBAL AG - INTENDS TO SELL, ON A NON-BROKERED PRIVATE PLACEMENT BASIS, 2.8 MILLION COMMON SHARES OF COMPANY AT A PRICE OF $4.53/SHARE
* CERES GLOBAL AG CORP - PROCEEDS FROM PRIVATE PLACEMENT WILL BE USED INITIALLY TO REPAY DEBT INCURRED IN CONNECTION WITH INVENTORY FINANCING
* CERES GLOBAL AG - VN CAPITAL HAS AGREED TO A STANDSTILL AGREEMENT FOR A PERIOD OF 18 MONTHS FROM CLOSING OF PRIVATE PLACEMENT