Feronia Inc. Issues Common Shares Under Share Purchase Plan
December 16 2013 - 2:00PM
Marketwired
Feronia Inc. Issues Common Shares Under Share Purchase Plan
TORONTO, ONTARIO--(Marketwired - Dec 16, 2013) - Feronia Inc.
("Feronia" or the "Company") (TSX-VENTURE:FRN) today announced that
certain officers and employees of the Company have acquired an
aggregate of 94,934 common shares in the capital of the Company
(the "Qualifying Shares"), at a price of $0.075 per share, under
the Company's Share Purchase Plan (the "Plan"). Under the terms of
the Plan, each participant is entitled to receive the matching
number of common shares acquired pursuant to the Plan at no cost to
such participant (the "Deferred Matching Shares"). Subject to
certain conditions, such Deferred Matching Shares will be issued to
the participants over a three year period following the date of the
purchase of the Qualifying Shares. As a result, the participants
may be issued up to an aggregate of 94,934 Deferred Matching Shares
in three equal tranches over a three year period. As required under
the Plan, the Company has also issued an aggregate of 79,471
Deferred Matching Shares to certain officers, directors and
employees who acquired Qualifying Shares in December 2011 and
December 2012. Following the above noted issuance of common shares,
the Company has an aggregate of 552,050,512 common shares issued
and outstanding.
The board of directors of the Company established the Plan as a
long-term incentive programme designed to improve director, officer
and employee retention, further align the interests of the
participants with those of shareholders, and allow such
participants to take part in the long-term success of the Company.
The Plan was approved by shareholders at the annual and special
meeting of the Company on June 17, 2011.
About Feronia Inc.
- Feronia operates large-scale commercial oil palm plantations
and has commenced an arable farming operation in the Democratic
Republic of the Congo (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
business administrators 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.
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.
Feronia Inc.Ravi SoodExecutive Chairman(416)
907-2026Ravi.Sood@feronia.comwww.feronia.com
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