AgriMarine Holdings Inc.
TSX VENTURE : FSH
FRANKFURT : A2G

AgriMarine Holdings Inc.

July 08, 2010 10:00 ET

AgriMarine Holdings Inc. Reports on Progress

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 8, 2010) -

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AgriMarine Holdings Inc. (TSX VENTURE:FSH)(FRANKFURT:A2G) (the "Company" or "AgriMarine"), a technology company with proprietary closed containment systems for sustainable aquaculture, announces its progress towards commercial revenue from its first harvest at the Guanmenshan Reservoir fish rearing facility in Liaoning Province, China.

"Based on customer feedback, we are extending the rearing cycle of AgriMarine's first tank harvest in order to grow larger fish. We will now commence harvesting in early fall, 2010. This will allow the Company to best serve the specifications of our clients and generate the Company's first commercial revenue from the AgriMarine designed closed containment system" said Richard Buchanan, President and CEO of AgriMarine Holdings.

"We have sent some of our experienced team from our operations in Campbell River to assist our staff in China in preparation for the upcoming harvest there. While we have recently had another successful harvest from our test facility here, it is our first full scale commercial harvest in China." Sean Wilton, President of Benxi AgriMarine, "We are adding support with equipment design and sourcing support as well so that we ensure that we are ready for a successful first harvest."

AgriMarine has signed distribution agreements with top distributors in China servicing the five-star hotel and restaurant market and our fish growth rate is on track, despite being slowed down by record cold waters this year at Guanmenshan. The Company plans to set up permanent automated harvesting equipment at the farm at Guanmenshan and to continue to prepare for the harvest this fall.

About AgriMarine Holdings Inc.

AgriMarine is in the business of producing fish sustainably in its proprietary closed containment systems. AgriMarine has developed proprietary technology 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. 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.

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.

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