AgriMarine Holdings Inc.
TSX VENTURE : FSH
OTCQX : AGMHF
PINK SHEETS : AGMHF
FRANKFURT : A2G

AgriMarine Holdings Inc.

November 17, 2011 14:06 ET

AgriMarine Report from Chinese Operations

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2011) - AgriMarine Holdings Inc. (TSX VENTURE:FSH)(OTCQX:AGMHF)(PINK SHEETS:AGMHF)(FRANKFURT:A2G) (the "Company" or "AgriMarine"), the leader in floating solid-wall containment technology for sustainable aquaculture, reports a steady harvest of salmon trout from its Benxi rearing facility in the People's Republic of China. The Company is supplying the 5-Star restaurant and hotel service industry in tier 1 cities in Northern China and plans to enter the retail market in 2012. With over 100,000 Chinook salmon now in production, an additional 600,000 Chinook and Coho juveniles in the hatchery, a steady supply of salmon trout and more tanks being deployed, the Company is increasing production capacity for fish sales by 100%.

"Our 5th floating solid-wall closed containment tank at Benxi is already in the water and we are now working to deploy our 6th tank in early 2012. Although Norwegian salmon prices have dropped in the last couple of months, our Eco-Salmon™ is being recognized for its freshness, superior taste and environmentally sustainable rearing practices," said Richard Buchanan, President and CEO of AgriMarine. "We are seeing more awareness of eco-labels and certifications than ever before."

Salmon imports to the PRC are subject to added import taxes, air freight charges and additional inspections and quarantines, giving AgriMarine's local salmon production a considerable advantage. Mr. Buchanan added, "By adding more tanks, we are not only increasing production capacity but we are also ensuring that we can deliver fresh salmon year-round to the Chinese market."

About AgriMarine Holdings Inc.

Canadian-based AgriMarine is an aquaculture technology company engaged in the development, commercialization and licensing of proprietary solid-wall closed containment systems for the rearing of finfish. The Company utilizes its innovative, clean technology to rear salmon and trout in its farms in China and Canada. The AgriMarine System can be applied worldwide in warm or cold climate conditions, in oceans, reservoirs and lakes. The AgriMarine System addresses sustainability issues in finfish aquaculture, creates an optimal fish rearing environment, offers a better farm management system with added environmental benefits over net cage rearing practices and meets consumer and retailer demands for sustainable aquaculture.

Forward-Looking Information

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