Feronia Inc. Announces Exercise of Over-Allotment Option

TORONTO, ONTARIO--(Marketwire - March 29, 2011) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Feronia Inc. ("Feronia" or the "Company") (TSX VENTURE:FRN) is pleased to announce that it has received notice from Wellington West Capital Markets Inc., on behalf of itself and Renaissance Capital (Kenya) Limited (collectively, the "Joint Bookrunners") that the Joint Bookrunners have exercised their over-allotment option (the "Over-Allotment Option") to acquire an additional 5,775,000 units of the Company (the "Over-Allotment Units") at a price of $0.65 per Over-Allotment Unit for gross proceeds to the Company of $3,753,750. The Over-Allotment Option was granted to the Joint Bookrunners in connection with the previously announced offering (the "Offering") of 38,500,000 units of the Company (the "Units") at a price of $0.65 per Unit for gross proceeds of $25,025,000. As a result of the exercise of the Over-Allotment Option, 44,275,000 Units in aggregate are being issued pursuant to the Offering for total gross proceeds of $28,778,750.

The sale of the Over-Allotment Units will close concurrently with the closing of the Offering, which is scheduled to close on or about March 31, 2011.

About Feronia Inc.:

Feronia Inc. is a large-scale commercial farmland and plantation operator in the Democratic Republic of the Congo ("DRC"). The Company uses modern agricultural practices to operate and develop its oil palm plantations and arable farming business division. Feronia believes in the immense agricultural potential of the DRC for high-quality foodstuffs and edible oils given its ideal climate, excellent soil and highly skilled and experienced workforce. Feronia's management team is comprised of senior agriculturalists with extensive experience in managing both plantations and large-scale mechanized farming operations in emerging markets. Feronia is committed to sustainable agriculture, environmental protection and providing support for local communities.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities referred to herein in the United States or in any jurisdiction where such offer or sale would be unlawful. The securities referred to herein 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 or for the account or benefit of a "U.S. person" (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. No public offering of securities is being made in the United States.

Nothing in this announcement constitutes an offer of securities for sale in any jurisdiction where it is unlawful to do so.

Cautionary Notes

Certain statements contained in this press release, the short form prospectus filed in connection with the Offering (the "Prospectus") and documents incorporated by reference in the Prospectus constitute "forward-looking statements". All statements other than statements of historical fact contained in this press release, the Prospectus and documents incorporated by reference in the Prospectus, including, without limitation, those regarding the Company's future financial position and results of operations, strategy, plans, objectives, goals and targets, future developments in the markets where the Company participates or is seeking to participate, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.

Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to, those discussed under "Risk Factors" in the Prospectus and documents incorporated by reference in the Prospectus. All of the forward-looking statements made in this press release, the Prospectus and documents incorporated by reference in the Prospectus are qualified by these cautionary statements, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. Investors are cautioned not to put undue reliance on forward-looking information. The forward-looking statements are made as of the date hereof and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.

The forward-looking statements in this press release, the Prospectus and documents incorporated by reference in the Prospectus are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future, including assumptions regarding expected crop yields, commodity prices, business and operating strategies, and the Company's ability to operate its production facilities and plantations on a profitable basis.

Some of the risks which could affect future results and could cause results to differ materially from those expressed in the forward-looking statements include: risks related to foreign operations (including various political, economic and other risks and uncertainties), termination or non-renewal of concession rights or expropriation of property rights, political instability and bureaucracy, limited operating history, lack of profitability, lack of infrastructure in the DRC, high inflation rates, limited availability of debt financing in the DRC, fluctuations in currency exchange rates, competition from other businesses, reliance on various factors (including local labour, importation of machinery and other key items, business relationships, and two refining factories), a shift in commodity trends and demands, vulnerability to fluctuations in the world market, the lack of availability of qualified management personnel and stock market volatility.

The distribution of this announcement in certain jurisdictions may be restricted by law. Persons into whose possession this announcement comes are required by each of the Company and the Joint Bookrunners to inform themselves about, and to observe, any such restrictions.