(Dallas, TX. – October 6, 2011) StockGuru Shines its Spotlight on AgriMarine Holdings Inc. (TSX-V: FSH)(OTCQX: AGMHF)(FRANKFURT:A2G). The Company is a leader in floating solid-wall containment technology and production for sustainable aquaculture. It announced yesterday that the Company has signed an agreement with The People’s Government of Benxi County with the intent of developing two additional farm sites in Benxi County, Liaoning Province, PRC. AgriMarine’s flagship salmon and trout farm is situated in the clean water reservoir of Guanmenshan and plans to expand its operation into new sites on the nearby Guanyinge Reservoir. The Company traded down 28 percent yesterday, closing at $0.2186, trading in a fifty-two week range of $0.6418 – 0.2625.
Once sites on the Guanyinge Reservoir are selected, the Company will file all necessary permitting applications and third party environmental reports to obtain rights for long term land and water use. The Company feels that the Guanyinge Reservoir is well suited for AgriMarine’s non-polluting, clean aquaculture technology for salmon rearing due to its proximity to the Company’s existing operating farm, hatchery and processing facility. As a water supply, power generation and flood control reservoir, Guanyinge also offers a pristine environment with excellent water resources and extensive capacity for AgriMarine’s salmon farms.
“The government of Benxi County is pleased with AgriMarine’s progress in establishing a sustainable aquaculture industry in its county and has been supportive of the Company’s farming technologies based on floating solid-wall containment fish farm systems”, said Richard Buchanan, President and CEO of AgriMarine. “Based on the proven sustainability advantages demonstrated at our existing farm, we will be working closely with the Benxi County in developing and expanding the proposed farms at Guanyinge.”
The Honourable John Reynolds, Senior Strategic Advisor to AgriMarine, presided over the signing ceremony which took place during the Benxi Maple Leaf Festival. The Hon. Reynolds remarked on the importance of the relationship between Canada and the PRC in terms of promoting cooperation and trade.
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 and creates an optimal fish rearing environment. AgriMarine offers a better farm management system with added environmental benefits over net cage rearing practices and meets consumer and retailer demands for sustainable aquaculture.
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.
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