FRN Feronia Inc

Feronia Inc. ("Feronia" or the "Company") (TSX VENTURE:FRN) is pleased to
announce that the shareholders of the Company approved a resolution at its
special meeting held earlier today in Toronto, providing for a private placement
of common shares of the Company with Golden Oil Holdings Limited ("GOHL") which
will result in the creation of a new "control person" of the Company, being the
African Agriculture Fund ("AAF"), GOHL and their associates and affiliates. 


On January 14, 2013, AAF (through its subsidiary GOHL) acquired 42,028,000
common shares of the Company in connection with the first tranche of a private
placement financing completed pursuant to the terms of a subscription agreement
entered into between GOHL and Feronia. The approval of the resolution by
shareholders at the Company's special meeting today was required under the
policies of the TSX Venture Exchange (the "TSXV") prior to the completion of the
second tranche of the financing.


Completion of the investment by AAF in the second tranche is subject to various
terms and conditions as set out in the subscription agreement, including TSXV
approval. For additional information regarding the second tranche, please refer
to the news release of the Company dated January 15, 2013 which is available
under the Company's profile on SEDAR at www.sedar.com.


The AAF is a leading pan-African agriculture and food private equity fund that
is managed by Phatisa, an Africa-based private equity investment management
firm. The AAF includes among its limited partner investors a number of European
development finance institutions ("DFIs") such as the Agence Francaise de
Developpement (AFD), the Spanish Agency for International Development
Cooperation (AECID), and Promotion et Participation pour la Cooperation
Economique (Proparco); a number of African DFIs such as the African Development
Bank (AfDB), the Development Bank of Southern Africa (DBSA), the West African
Development Bank (BOAD) and the ECOWAS Bank of Investment and Development
(EBID); and other private European and USA investors.


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. For more
information, please see www.feronia.com. 


Cautionary Notes 

Except for statements of historical fact contained herein, the information in
this press release constitutes "forward-looking information" within the meaning
of Canadian securities law. Such forward-looking information may be identified
by words such as "anticipates", "plans", "proposes", "estimates", "intends",
"expects", "believes", "may", "will" and includes without limitation, statements
regarding the completion of the second tranche of the financing. There can be no
assurance that such statements will prove to be accurate; actual results and
future events could differ materially from such statements. Factors that could
cause actual results to differ materially include, among others, the inability
to complete the second tranche of the financing on terms acceptable to the
Company or at all, the level of participation from other qualifying investors in
the second tranche of the financing, regulatory risks, risks inherent in foreign
operations, commodity prices, competition, and investments having no history of
operations. Most of these factors are outside the control of the Company.
Investors are cautioned not to put undue reliance on forward-looking
information. Except as otherwise required by applicable securities statutes or
regulation, the Company expressly disclaims any intent or obligation to update
publicly forward-looking information, whether as a result of new information,
future events or otherwise. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Feronia Inc.
Ravi Sood
Chairman
(416) 907-2026
Ravi.Sood@feronia.com


Feronia Inc.
Bill Dry
CEO
44 (0) 7887 525 046
Bill.Dry@feronia.com
www.feronia.com

Feronia (TSXV:FRN)
Historical Stock Chart
From Jun 2024 to Jul 2024

Feronia (TSXV:FRN)
Historical Stock Chart
From Jul 2023 to Jul 2024