AgriMarine Holdings Inc.
TSX VENTURE : FSH

AgriMarine Holdings Inc.

September 14, 2009 09:30 ET

AgriMarine Commences Operations in China

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 14, 2009) -

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AgriMarine Holdings Inc. ("AgriMarine", or the "Company") (TSX VENTURE:FSH) is pleased to announce that the Honorable John Reynolds (Chairman) and Richard Buchanan (CEO) attended the Benxi China Maple Leaf Festival on September 10th at the invitation of Mayor Gang Rui of Benxi Municipal Government. The Hon. John Reynolds delivered greetings on behalf of Mayor Susan Fennell, from Brampton, Ontario, the Canadian sister city of Benxi. AgriMarine is developing the world's first commercial closed containment fish farm in the Benxi Region of Liaoning Province and has established its China headquarters in Benxi.

The Guanmenshan Power Reservoir in Benxi Region is the site of the closed containment fish farm developed utilizing AgriMarine's proprietary floating solid wall rearing container technology. The 24-metre diameter tanks, containing 3,000,000 liters of circulating water, was manufactured in Shenyang, assembled at the reservoir farm and stocked with 50,000 juvenile trout (fingerlings) from the Benxi Salmon & Trout Hatchery Center. The steelhead trout will grow to harvest size and be ready for consumer markets over the next 10 to 12 months. Representatives of the local government and the Canadian Embassy trade section attended an open house, presentation and tour of the farm following the Maple Leaf Festival.

The city of Benxi, located in the mountainous region in eastern Liaoning Province, has a strong and diverse industrial raw materials base producing iron and steel, coal, building materials and chemical products. Recently the city has established a pharmaceutical and traditional medicine research and development park, and over 120 companies are establishing production facilities to support China's growing need for natural pharmaceutical products. Benxi has a strong commitment to sustainable industrial practices and economic growth.

"The start of operations represents an important milestone in the history of the Company," said Richard Buchanan, CEO. "The technology emphasizes and demonstrates that aquaculture can be carried out in an environmentally responsible and economically feasible manner. Benxi city, with its commitment to sustainable industry practices, is a perfect location to demonstrate our fish farm technology. Local government officials have been extremely helpful in permitting and advancement of the project and we are grateful for their continued support."

AgriMarine's solid-wall containment technology was developed to solve many issues faced by traditional net cage rearing practices that are used worldwide. AgriMarine's system reduces local nutrient pollution of the receiving water systems through the capture of waste feed/feces and facilitates improved feed conversions; mitigates environmental effects on wild fish through the prevention of escapes and avoids proximal contaminations such as marine parasites.

About AgriMarine Holdings Inc.

AgriMarine Holdings Inc., through its wholly owned subsidiary, AgriMarine Industries, has developed proprietary technology for the rearing of salmon and other finfish in floating solid wall closed containment systems that allows for total control of the rearing water environment. AgriMarine's technology resolves many of the environmental issues created by present net cage rearing practices worldwide and permits the installation of fish production systems in close proximity to consumer markets. Through AgriMarine Industries' Asian subsidiary, Benxi Agrimarine, the first commercial tank farm is currently being installed in China to produce large steelhead trout. The Company is also examining applications of its technology for tuna and other warm water species.

Forward-Looking Information

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