Genesis Grain and Fertilizer continues to move ahead with their plans.

The company which is looking to develop farmer ownership in the fertilizer chain has reached its minimum raise of $15.3 million dollars.

Bob Friesen confirming they have reached their minimum target raise, adding that now they have to secure more financing.

“Were continuing our capital raise. Our business plan calls for seven super centers so we are continuing the capital raise. I believe there are many farmers that are now going to say, we have achieved a very important milestone and now I want to get engaged as well. So we will be continuing the capital raise.”

Friesen says that the engagement of farmers is a positive thing.

“This is a real game changer. Farmer ownership in fertilizer supply chain. It’s very positive news that farmers are engaged to the level that they are and that we did raise the minimum. That now means that we can go forward with our business plan.”

Friesen notes they will continue with their capital raise adding that once secure bank financing is in place, they can put shovel in the ground on the first super center at Belle Plaine.