Feronia Inc. Announces Closing of First Tranche of Secured Convertible Debenture Offering
(firmenpresse) - TORONTO, ONTARIO -- (Marketwired) -- 11/09/15 -- Feronia Inc. ("Feronia" or the "Company") (TSX VENTURE: FRN) is pleased to announce that it has closed the first tranche (the "Offering") of the previously announced private placement of secured convertible debentures in the principal amount of US$10,000,000 with CDC Group plc, the UK Government's Development Finance Institution.
The terms of the Offering are described in the of the Company issued on November 5, 2015.
Mr. Xavier de Carniere, Chief Executive Officer of Feronia, commented: "In CDC we have a committed and supportive shareholder which shares our vision to create a solid business for the future. This investment will allow us to continue to implement our business plan and support our extensive Environmental, Social and Governance programme in spite of the current low global Crude Palm Oil prices."
About Feronia Inc.
About CDC
CDC is the UK government-owned development finance institution that uses its own balance sheet to invest in the developing countries of Africa and South Asia. CDC's mission is to support the building of businesses throughout Africa and South Asia that create jobs and make a lasting difference to people's lives in some of the world's poorest places.
CDC provides capital in all its forms, including equity, debt, mezzanine and guarantees, and this capital is typically used to fund growth. This capital is provided directly and through fund managers that are aligned with its aims. It has net assets of GBP 3.4bn.
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 Officer
44 (0)7468 697 658
Feronia Inc.
Paul Dulieu
Investor Relations Manager
44 (0)7554 521421
CDC Group plc
Rhyddid Carter
Corporate Communications Manager
+44 (0)20 7963 4741 / +44(0)
7824 552 326
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Datum: 09.11.2015 - 16:38 Uhr
Sprache: Deutsch
News-ID 433064
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contact information:
Town:
TORONTO, ONTARIO
Kategorie:
Farming
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