AgriMarine Holdings, Inc. (AGMHF: OTC Link) | AgriMarine Announces $5M Private Placement


AgriMarine Announces $5M Private Placement

Feb 15, 2012

OTC Disclosure News Service

Vancouver, BC, Canada –



AgriMarine Holdings Inc.  (the “Company” or “AgriMarine”), the leader in floating closed containment technology and production for sustainable aquaculture, is pleased to announce a non-brokered private placement of up to 25,000,000 units (each a “Unit”) at a price of $0.20 per Unit for gross proceeds of up to $5,000,000 (the “Offering”), subject to the acceptance of the TSX Venture Exchange (the “Exchange”). Each Unit will be comprised of one common share in the capital of the Company (a “Share”) and one-half of one common share purchase warrant.  Each whole warrant (a “Warrant”) will entitle the holder to purchase an additional common share (a “Warrant Share”) at a purchase price of $0.30 for a period of two years from the date of issue.

All Shares issued pursuant to the Offering and any Warrant Shares issued upon exercise of any Warrants will be subject to a hold period in accordance with the policies of the Exchange and applicable securities laws.

Finder’s fees may be payable in connection with the Offering in accordance with Exchange policies. Net proceeds of the Offering will be used by the Company for the expansion of its salmon farming operations in China and Canada and working capital purposes to market the technology internationally.

This press release is not an offer of securities for sale in the United States. Securities may not be offered or sold in the United States or to or for the account or benefit of US persons (as such terms are defined in Regulation S under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), absent registration or an exemption from registration. The securities offered have not been and will not be registered under the U.S. Securities Act or any state securities laws and, therefore, may not be offered for sale in the United States, except in transactions exempt from registration under the U.S. Securities Act and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

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 economic and environmental benefits and meets consumer and retailer demands for sustainable aquaculture.

For further information contact:
Richard Buchanan                    Alexia Helgason
President and CEO                  Manager, Media Relations and Marketing      

AgriMarine Holdings Inc.            
1810 – 999 West Hastings Street,         
Vancouver, B.C., V6C 2W2
Telephone: (604) 568-4672

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

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