VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 29, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
AgriMarine Holdings Inc. (the "Company" or "AgriMarine") (TSX VENTURE:FSH)(OTCQX:AGMHF)(FRANKFURT:A2G) is pleased to announce that, pursuant to the Company's Annual General and Special Meeting of Shareholders held on April 26, 2013 (the "Meeting"), the shareholders approved all resolutions put forward by management and the Board of Directors.
At the Meeting shareholders approved an ordinary resolution, as disclosed in the Information Circular mailed to shareholders in advance of the Meeting, to alter the share capital of the Company by way of the proposed consolidation (the "Consolidation") of all the issued and outstanding common shares of the Company on the basis of one post-Consolidation common share of the Company for up to 15 pre-Consolidation common shares of the Company.
The Consolidation remains subject to the prior approval by the TSX Venture Exchange (the "Exchange"), which the Board of Directors of the Company intends to seek promptly.
As of April 26, 2013, a total of 108,257,197 common shares in the capital of the Company were issued and outstanding and, accordingly, a total of not less than 7,217,146 common shares of the Company would be issued and outstanding following the completion of the maximum Consolidation ratio as approved at the Meeting.
The Company does not intend to change its name in connection with the Consolidation. AgriMarine's common shares will continue to trade on the TSX Venture Exchange under its current symbol, "FSH".
About AgriMarine Holdings Inc.
Canadian-based AgriMarine has developed innovative aquaculture technology for farming salmon, trout and other high value fin fish species in closed containment. The Company utilizes its solid-walled floating tanks to address sustainability issues in aquaculture, to create an optimal fish rearing environment with added economic and environmental benefits and to meet consumer and retailer demands for sustainable fin fish products. The AgriMarine System™ can be applied in warm or cold climate conditions, in oceans, reservoirs and lakes.
Forward-Looking Information
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.
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 news release.
