AgriMarine Holdings, Inc. (AGMHF: OTC Link) | AgriMarine Increases Private Placement


AgriMarine Holdings Inc. (the “Company” or “AgriMarine”) (TSX-V:FSH; FRANKFURT:A2G, OTCQX: AGMHF), the leader in floating solid-wall containment technology and production for sustainable aquaculture, is pleased to announce that due to strong institutional investor demand, the Company has now increased the size of its non-brokered private placement announced February 15, 2012 (the “Offering”) from a maximum of 25,000,000 Units to a maximum of up to 50,000,000 Units. Each Unit will still be issued at a price of $0.20 per Unit, for total gross proceeds of up to $10,000,000, and each Unit will still be comprised of one common share in the capital of the Company and one-half of one common share purchase Warrant, with each Warrant entitling the holder thereof to purchase an additional common share at an exercise price of $0.30 per Warrant share for a period of two years from the date of issue.

The net proceeds of the Offering will still be used by the Company for working capital and general corporate purposes. 

Finder’s fees will continue to be payable in connection with any portion of the Offering in accordance with TSX Venture Exchange policies, and the Offering remains subject to prior acceptance by the TSX Venture Exchange.

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. 

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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