AgriMarine Holdings Inc.
TSX VENTURE : FSH

AgriMarine Holdings Inc.

July 09, 2009 15:19 ET

AgriMarine Holdings Inc. Announces Private Placement of Units

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 9, 2009) - AgriMarine Holdings Inc. (TSX VENTURE:FSH) (the "Company" or "AgriMarine") is pleased to announce that it has arranged, subject to regulatory approval, a non-brokered private placement consisting of up to 2,000,000 units (the "Units") at a price of $0.25 per Unit to qualified investors, raising up to $500,000. Each Unit consists of one common share and one share purchase warrant exercisable into an additional common share of the Company at a price of $0.35 per share for a period of two years.

Finders' fees may be paid in accordance with TSX Venture Exchange policies. Proceeds of the offering will be used to advance development of the Company's business and for general working capital.

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

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.

This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The Common Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Neither 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 release.

Contact Information

  • AgriMarine Holdings Inc.
    Richard Buchanan
    President and Chief Executive Officer
    (604) 484-5761
    (604) 484-5760 (FAX)
    rbb@agrimarine.com
    or
    AgriMarine Holdings Inc.
    Investor Relations
    (778) 998-9468
    www.agrimarine.com