Fort Saskatchewan, Alberta and Marengo, Saskatchewan: Providence Grain Group Inc. (“Providence”) and Meridian Grain Corporation ("Meridian") announced today that all of the conditions under Providence's offer to purchase the outstanding common shares of Meridian under  Providence's February 23, 2012 circular (the "Offer") have been met.
 
1,875,836 Class "A" shares in the capital of Meridian (the "Deposited Shares") have been validly deposited to the Offer and not withdrawn. As all of the conditions of the Offer have been satisfied or waived, Providence has taken up and accepted for payment in accordance with the Offer all of the Deposited Shares. Providence now owns 97.3% of the outstanding Meridian shares.
 
Providence has acquired the Deposited Shares for consideration of 916 Class “A” shares of Meridian for 1 Class “A” Series 2 share of Providence.  Any rounding of shares will be paid out by Providence at $1.00 per Class “A” share of Meridian.
 
Providence was incorporated on August 1, 2002, is a farmer owned Ag Solutions business that helps producers grow and market the finest crops in the world, and employs people that are engaged in connecting producers with end users, understanding local community values and committed to customers and shareholders alike.
 
Chief Executive Officer of Providence, Milt Miller, said the completion of the Offer is a significant step forward for Providence. Providence's Chairman Mike Kalisvaart added "I want to welcome and congratulate Meridian's shareholders for joining us in building a stronger, more diverse farmer owned Grain Company. We look forward to successfully growing the business together". 
 
"We are very pleased with the response provided by Meridian shareholders and with the support of the Meridian Board of Directors. This acquisition will add significantly to Providence's growth strategy."
 
The offer has now expired and will not be extended.
 
As the Offer was accepted by holders of more than 90% of the issued and outstanding Meridian shares, Providence intends to exercise its rights under the compulsory acquisition provisions of The Business Corporations Act (Saskatchewan) to acquire all of the outstanding Meridian shares that it does not currently own. Providence expects to mail a notice of compulsory acquisition to all remaining holders of Meridian shares shortly.
 
Providence is an Alberta corporation with its head office located in Fort Saskatchewan, Alberta.  Meridian is a Saskatchewan corporation with its registered office located in Marengo, Saskatchewan.  There is no published market for either Meridian shares or Providence shares.
 
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
 
This press release may contain “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Providence assumes no obligation for the accuracy or completeness of those forward looking statements and undertakes no obligation to revise these forward looking statements to reflect subsequent events or circumstances.  Readers are cautioned not to place undue reliance on the forward-looking statements made in this press release.
 
For further information please contact:
 
For Providence Grain Group Inc.
8716 – 112th Street
Fort Saskatchewan, Alberta
T8L 2S8
Attention:  Milt Miller, C.E.O.
Tel (780) 997-0211
Fax (780) 997-0217
 
For Meridian Grain Corporation
1 Elevator Road
Marengo, Saskatchewan
S0L 2K0
Attention : Trevor Martin
Phone (306) 968-2033
Fax (306) 968-2036