KAI Kenai Resources Ltd.

Feronia Inc. (TSX VENTURE:FRN) ("Feronia" or the "Company"), is pleased to
announce that its wholly-owned arable processing, storage and distribution
division, Kimpese Agro Industries Sprl ("KAI"), has achieved practical
completion of its rice mill in the Bas-Congo province of the Democratic Republic
of the Congo.


The rice mill has a five tonne per hour capacity which, allowing for downtime
and maintenance, can process up to 30,000 tonnes of paddy rice per annum to
produce approximately 20,000 tonnes of finished rice.


The Company expects to make its first commercial sales of rice by December of
this year.


Bill Dry, CEO of Feronia Inc., commented: "Completing the rice mill is a major
milestone in the development of Feronia's arable farming business. The current
installed capacity at the mill allows us to expand our rice production
substantially once we have proven commercially compelling yields.


"This is the only large-scale mill in the region and allows us to process, not
only our own crops, but those grown by local small-holder farmers. We believe
that providing access to agricultural processing will encourage local farmers to
increase production of staple crops for the benefit of all."


About Feronia Inc.

Feronia operates large-scale commercial oil palm plantations and has commenced
an arable farming operation in the DRC. The Company, through its subsidiaries,
holds concessions on land which is owned by the DRC government and on which its
oil palm plantation and farming operations take place. The Company uses modern
agricultural practices to operate and develop its oil palm plantations and
arable farming. Feronia believes in the immense agricultural potential of the
DRC for high-quality edible oils, oil derivatives and foodstuffs given the
suitability of its climate and soil and the availability of a skilled workforce.
The Company's management team is comprised of experienced administrative
executives and 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 jobs and economic growth 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Feronia Inc.
Ravi Sood
Executive Chairman
(416) 907-2026
Ravi.Sood@feronia.com
www.feronia.com

Kenai Resources Ltd. (TSXV:KAI)
Historical Stock Chart
From May 2024 to Jun 2024

Kenai Resources Ltd. (TSXV:KAI)
Historical Stock Chart
From Jun 2023 to Jun 2024