Feronia Inc. Reports Q1 2015 Results
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 05/29/15 -- Feronia Inc. ("Feronia" or the "Company") (TSX VENTURE: FRN) today released its financial results for the quarter ended March 31, 2015. All amounts in this release are expressed in US dollars unless otherwise indicated.
A copy of the unaudited condensed consolidated interim financial statements for the three months ended 31 March 2015 will be available under the Company's profile on .
Q1 2015 Highlights
Xavier de Carniere, Chief Executive Officer of Feronia Inc. commented:
"Looking at what Feronia has achieved over the past few years, I am fortunate to be surrounded by a team of seasoned professionals who know how to maximize available resources in the best interest of the Company, whilst achieving incredible results.
"The management and employees of the Company have shown such dedication to this business and the level of teamwork has been outstanding. All of their hard work is now beginning to yield results as, one by one, the indicators on our dashboard turn green and the Company begins to perform as we have always known it will. Take-off is quickly approaching and our next challenge will be to prepare for a fast ascent.
"As our replanted hectares begin to mature and the proportion of immature trees, which only create cash outflows, decreases, our confidence in being able to achieve our long term objectives increases. Combining the wealth of experience within Feronia with increasing resources generated by our growing revenues will, I believe, put us on a unique path to success."
About Feronia Inc.
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 "anticipates", "plans", "proposes", "estimates", "intends", "expects", "believes", "may" and "will". 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: risks related to foreign operations (including various political, economic and other risks and uncertainties), the interpretation and implementation of the "Loi Portant Principes Fondamentaux Relatifs A L'Agriculture", termination or non-renewal of concession rights or expropriation of property rights, political instability and bureaucracy, limited operating history, lack of profitability, lack of infrastructure in the DRC, high inflation rates, limited availability of debt financing in the DRC, fluctuations in currency exchange rates, competition from other businesses, reliance on various factors (including local labour, importation of machinery and other key items and business relationships), the Company's reliance on one major customer, lower productivity at the Company's plantations and arable farming operations, risks related to the agricultural industry (including adverse weather conditions, shifting weather patterns, and crop failure due to infestations), a shift in commodity trends and demands, vulnerability to fluctuations in the world market, the lack of availability of qualified management personnel and stock market volatility. Details of the risk factors relating to Feronia and its business are discussed under the heading "Risks and Uncertainties" in Feronia's Management's discussion and Analysis for the year ended December 31, 2014, a copy of which is available on the Company's SEDAR profile at . 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.
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.
Contacts:
Feronia Inc.
Xavier de Carniere
Chief Executive
44 (0)7468 697 658
Feronia Inc.
Paul Dulieu
Investor Relations Manager
44 (0)7554 521421
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 29.05.2015 - 21:00 Uhr
Sprache: Deutsch
News-ID 396898
Anzahl Zeichen: 0
contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Farming
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