AgriMarine Holdings Inc.

AgriMarine Holdings Inc.

September 22, 2010 09:30 ET

AgriMarine's Technology Brings in Successful First Harvest

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 22, 2010) -


AgriMarine Holdings Inc. (TSX VENTURE:FSH)(FRANKFURT:A2G) (the "Company" or "AgriMarine"), a leader in floating closed containment technology and production for sustainable aquaculture, is pleased to report that the first harvest at its Benxi farm in Liaoning Province, China is underway.

The Company is in the midst of the fall harvest of Steelhead trout from the first floating closed containment tank situated in the Guanmenshan Reservoir, installed and stocked in September 2009. In order to avoid long shipping times of freshly harvested fish, the Company established processing facilities in close proximity to its farm.

The fish are harvested, chilled and processed for next-day delivery, which provides the freshest possible flavour and consistency of flesh for sashimi and other dishes created for hotel and restaurant customers. Chefs and wholesalers have positively remarked about the flesh quality and colour of the AgriMarine fish.

Working through distributors in Beijing and Shanghai, AgriMarine is currently selling fresh and frozen product exclusively to hotel and restaurant customers in tier one cities in northern and central China. The Company is also selling live trout to meet market demands as traditional trout farms in northern China were negatively affected by major flooding this past summer.

"We are extremely pleased with our progress to date and will continue harvesting through to mid-October. The demand for sustainable seafood in China is increasing and we are gaining exposure to top chefs in northern China that are conscious of both the quality of the fish and the way it is raised, in order to meet the demands of a growing middle class population," said Richard Buchanan, CEO of AgriMarine Holdings and founder of the Company. "We have developed new procedures that will aid us in improving our next harvest and most importantly, we have successfully proven the commercial viability of our technology."

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. 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.

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.

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 release.

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