AgriMarine Holdings Inc.
TSX VENTURE : FSH
FRANKFURT : A2G

AgriMarine Holdings Inc.

December 09, 2013 09:30 ET

AgriMarine Completes Acquisition of West Coast Fishculture

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 9, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

AgriMarine Holdings Inc. (TSX VENTURE:FSH)(FRANKFURT:A2G) (the "Company" or "AgriMarine") is pleased to announce that it has completed the arm's length transaction announced November 28, 2013 to acquire all of the issued and outstanding shares of West Coast Fishculture (Lois Lake) Ltd. and West Coast Fishculture Ltd. (collectively, "WCFC") for cash consideration of $5.2 million (the "Acquisition"), subject to certain agreed adjustments, including post-closing biomass inventory reconciliation. The Company received final approval from the TSX Venture Exchange with respect to the Acquisition and all closing conditions have now been satisfied.

For additional details regarding the Acquisition, please refer to the Company's news release dated November 28, 2013 and the material change report dated December 3, 2013, copies of which are available under the Company's SEDAR profile at www.sedar.com.

About AgriMarine Holdings Inc.

Canadian-based AgriMarine is a producer of sustainable fin fish. The Company utilizes its proprietary, clean aquaculture technology to create an optimal fish rearing environment with economic and environmental benefits to meet the growing demands for healthy and sustainable food sources. The Company's mission is to build a global portfolio of fish farms utilizing its clean rearing technology.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-Looking Information

Information set forth in this news release may involve forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.

THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.

Contact Information

  • Sean Wilton
    President & CEO
    sean@agrimarine.com

    Alexia Helgason
    Manager, Communications and Marketing
    alexia@agrimarine.com

    AgriMarine Holdings
    Suite 1218-1030 West Georgia Street
    Vancouver, BC V6E 2Y3
    604-568-4672