FRN Feronia Inc

Feronia Inc. ("Feronia" or the "Company") (TSX VENTURE:FRN) is pleased to
announce that it has incorporated a wholly-owned subsidiary in the Democratic
Republic of Congo ("DRC") to pursue the production of agricultural lime and
other fertilizers.


The Company anticipates becoming a major consumer of agricultural lime,
primarily in the arable farming division. Feronia is also a rapidly growing
consumer of various fertilizers in both its arable and oil palm operations.
Local fertilizer prices are currently in excess of $1,000 per tonne, a
significant premium to world prices.


Large-scale deposits of both limestone and various minerals required for the
production of fertilizers are present in the DRC. Feronia plans to lease and
develop some of these deposits through its wholly-owned subsidiary and in the
process cover local requirements and ultimately export into international
markets.


Feronia has identified suitable concessions for limestone and is in the process
of securing the required leases. Additional agri-mineral concessions are being
identified and reviewed with local geologists. Following further technical
investigations, the Company anticipates that the appropriate leases will be
obtained. 


The subsidiary company is currently managed by Feronia's management team. These
opportunities are capital intensive and require specialized expertise.
Accordingly, Feronia plans to install a management team experienced in the
development of fertilizer assets and evaluate various options to fund the growth
of the subsidiary including seeking a strategic investor in the unit, acquiring
an independent public listing, or funding the growth through cash-flows of the
parent. A consultant has been engaged to complete a feasibility study and
develop a business plan for the agricultural lime business, completion of which
is anticipated by the end of Q2, 2011. 


The Company expects that the development of large scale agriculture in the DRC
and other countries in the region will result in a large increase in the demand
for agricultural lime and fertilizers. Company CEO James Siggs remarked "There
is an exciting opportunity for Feronia to leverage its 100-year operating
history in the DRC to vertically integrate into the production of agri-minerals
and create significant shareholder value in the process."


About Feronia Inc. 

Feronia is a large-scale commercial farmland and plantation operator in the 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 "plans", "proposes", "estimates", "intends", "expects",
"believes", "may", "will" and include without limitation, statements regarding
the stated use of proceeds; plan of operations and comparative advantages; and
benefits of this investment. 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, 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.

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

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