AgriMarine Holdings Inc. (TSX VENTURE:FSH)(OTCQX:AGMHF)(FRANKFURT:A2G) (the
"Company" or "AgriMarine"), the leader in floating closed containment technology
for sustainable aquaculture, and the Middle Bay Sustainable Aquaculture
Institute ("MBSAI") are pleased to announce that Sustainable Development
Technology Canada ("SDTC") has increased its contribution to the Middle Bay
solid-wall containment salmon rearing demonstration facility (the "Middle Bay
Project") located in Campbell River, BC from the $2.36 million previously
committed to a maximum of $5.77 million.


"Through our support for cutting-edge clean energy technology we are creating
high-quality jobs and protecting our environment," said Natural Resources
Minister Joe Oliver. "This project demonstrates our leadership in driving
technology innovation to help create a vibrant clean energy industry in Canada."


The SDTC contribution will be advanced to MBSAI pursuant to specific milestones,
while AgriMarine has committed $7.27 million to rear the salmon as part of the
demonstration project. The increased contribution by SDTC will be used to
provide additional support for the development and demonstration of a 4-tank
salmon operation with an annual capacity of approximately 900 tonnes. The Gordon
and Betty Moore Foundation and Coast Sustainable Trust, contributed to earlier
milestones of the project.


SDTC is a not-for-profit foundation created by the Government of Canada to
support the development and demonstration of clean technologies which provide
solutions to issues of climate change, clean air, water quality and soil, and
which deliver economic, environmental and health benefits to Canadians. SDTC
supports technologies with the potential to both meet market demand and help
achieve Canada's environmental goals.


"SDTC's contribution to the Middle Bay Project demonstrates the Canadian
government's commitment to fostering emerging clean technologies that will
contribute to the strengthening of the environment, and solid-wall containment
salmon rearing technology will assist in the protection of the marine
environment and wild fish stocks", said Richard Buchanan, President and CEO of
AgriMarine. "We believe that the Middle Bay Project will continue to demonstrate
that solid-wall containment salmon farming is a viable and cost effective
alternative to net cage operations and is capable of supporting sustainable
growth of the salmon farming industry in BC and around the world."


"The technology being developed through this project is a great example of the
combined environmental and economic benefits that clean technologies can provide
to Canadians," said Vicky Sharpe, President and CEO of SDTC. "It has the
potential to increase the rearing capacity of the Canadian and global salmon
farming industry by allowing for sustainable aquaculture growth in coastal
communities, while minimizing interference with marine environments."


About SDTC

SDTC is an arm's-length foundation created by the Government of Canada which has
received $1.05 billion as part of the Government's commitment to create a
healthy environment and a high quality of life for all Canadians.


SDTC operates two funds aimed at the development and demonstration of innovative
technological solutions. The $550 million SD Tech Fund(TM) supports projects
that address climate change, air quality, clean water, and clean soil. The $500
million NextGen Biofuels Fund(TM) supports the establishment of first-of-kind
large demonstration-scale facilities for the production of next-generation
renewable fuels.


SDTC operates as a not-for-profit corporation and has been working with the
public and private sector including industry, academia, non-governmental
organizations (NGOs), the financial community and all levels of government to
achieve this mandate.


About MBSAI

MBSAI is a not for-profit organization formed for the purpose of researching and
developing the use of commercial-scale environmentally responsible technologies
for aquaculture. In addition to MBSAI, consortium members in the Middle Bay
Project include AgriMarine Industries Inc., and the US-based Gordon and Betty
Moore Foundation. The project has received the endorsement of the following
environmental non-governmental organizations: Coastal Alliance for Aquaculture
Reform - which includes the David Suzuki Foundation, Living Oceans Society,
Georgia Strait Alliance, T. Buck Suzuki Environmental Foundation and Watershed
Watch Salmon Society - as well as Coast Sustainability Trust and the Wilderness
Tourism Association. AgriMarine and MBSAI are also very grateful to have the
cooperation and support of the K'omoks, Campbell River, Cape Mudge, and Homalco
First Nation Bands.


About AgriMarine Holdings Inc.

AgriMarine has developed and commercialized proprietary floating solid-wall
containment technology to produce salmon sustainably in its farms in China and
Canada. The technology can be applied worldwide to the rearing of other finfish
such as trout, tuna, and yellow croaker. AgriMarine's technology creates an
optimal fish rearing environment, offers a better farm management system with
added environmental benefits over net cage rearing practices and meets consumer
and retailer demands for sustainable aquaculture.


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