AgraMarke Quality Grains, Inc. is a Missouri nonstock cooperative association that was organized on January 2, 2001, under Missouri Statutes, Chapter 274. The Company’s business affairs are managed by and under the direction of its Board of Directors, which is currently comprised of five persons who must be members. The Cooperative was formed to allow its membership to potentially receive additional value from the identity preserved (IP) grain the members, “producers of agricultural products”, grow by processing such grain and marketing the processed grain products. It is comprised of over 600 independent producers located primarily in the states of Missouri, Kansas, Nebraska and Iowa.
Lifeline Foods, LLC (Lifeline) is a privately owned company whose ownership is comprised of 49% ownership held by ICM, Inc, an industry leading ethanol design/build firm and 51% ownership held by AgraMarke Quality Grains, Inc. The members of AgraMarke Quality Grains produce and deliver up to 100% of the corn processed at Lifeline into food, ethanol, animal feeds and industrial products for both domestic and international markets.
Member Ownership of Participation Units (Units)
Members of AgraMarke Quality Grains, Inc. must be “producers of agricultural products” which means persons engaged in the production of one or more agricultural products, including tenants of land used for production of such products and lessors of such land that receive as rent therefore any part of the product of such land. A condition of membership in the cooperative is entry into a Uniform Marketing and Delivery Agreement under which the member/unitholder will be obligated to meet annual corn delivery obligations to AgraMarke Quality Grains, either through direct delivery or through procurement agreements with parties that will procure and deliver corn on the member’s behalf. Only members have voting power. Each member shall be entitled to only one vote in the affairs of the Company, and are restricted to only one vote regardless of the number of Units held by that member. All members are required to hold a minimum of at least two (2) Units. All sales and transfers of Units must be approved by the Board of Directors.
Trade Requirements
A Seller will be required to pay the Escrow Agent a fee of three percent (3.0%) of the gross sales price or one hundred seventy-five ($175.00) dollar fee per transaction, whichever is greater.
Forward Looking Statements
This description contains “forward-looking statements,” which are subject to a number of risks and uncertainties, many of which are beyond our control. Forward-looking statements are typically identified by the words “believe,” “expect,” “anticipate,” “intend,” “estimate” and similar expressions. Actual results could differ materially from those contemplated by these forward-looking statements as a result of many factors, including the economic conditions generally and in our principal markets, the availability and prices of commodities, food safety, competitive practices and consolidation in the food and energy production and processing industries, actions of domestic or foreign governments, hedging risk, changes in interest rates and foreign currency exchange rates, consumer demand and preferences, the cost of compliance with environmental and health laws, loss of key customers or suppliers, loss of key employees, labor relations, and consolidation among our customers.
In light of these risks and uncertainties, there can be no assurance that the results and events contemplated by the forward-looking information contained in this description will in fact transpire. Readers are cautioned not to place undue reliance on these forward-looking statements. We do not undertake any obligation to update or revise any forward-looking statements. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by these factors.