AgriMarine Holdings Inc.
TSX VENTURE : FSH
FRANKFURT : A2G

AgriMarine Holdings Inc.

October 07, 2010 08:30 ET

AgriMarine Expands Market Reach in the People's Republic of China

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 7, 2010) -

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AgriMarine Holdings Inc. (TSX VENTURE:FSH)(FRANKFURT:A2G) (the "Company" or "AgriMarine"), a leader in floating closed containment technology and production for sustainable aquaculture, reports on recent activity at its fresh water closed containment fish rearing facility in Benxi, China.

Assembly work on the third tank at the Benxi farm is nearing completion following the commencement of the harvest of the Company's first crop. Tank 4 is being prepared and will be manufactured during the month of October with assembly taking place in early November. Utilizing a new design, pump efficiency will improve to 80-90% and significantly reduce electricity costs, which are already less than 8% of production costs in China.

The Company has also successfully procured a license to sell fish which is no longer limited to major cities in China but throughout the entire nation. "This is a major accomplishment for our team in China. With this license in place, we are able to make our top-quality product available to consumers anywhere in China," said Sean Wilton, President of Benxi AgriMarine.

As part of the continued re-development and modernization of the Benxi hatchery, a new incubation cell was procured employing North American technology. "This critical part of our hatchery will now be ready to receive and hatch all of the eggs required for our rapidly growing business plans," commented Sean Wilton. "Our rearing schedule will now include future crops of Coho salmon with ova under cultivation."

About AgriMarine Holdings Inc.

AgriMarine is in the business of producing fish sustainably in its proprietary closed containment systems in China for the rearing of trout, salmon and other finfish such as tuna in floating solid-wall closed containment systems that allows for control of the rearing water environment. The 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.

Forward-Looking Information

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